Targeting Recession Proof Jobs in a Recovery

24 May 2010

Now that we are slowly recovering from the recession it may seem like an odd time to look at recession-proof jobs. Of course, it is always a good time to consider a career that provides job security in up and down markets.

Over 500,000 hits pop up for “recession proof jobs” on Google. The best way to research recession-proof jobs is to rely on the data from past recessions. Once you have chosen an industry, you should also look at how economic and business cycles affect employment in that industry.

Let’s see if Forbes magazine’s list holds up to the hard data. On January 25, Forbes came out with its list of recession-proof jobs. Its top five are registered nurse, retail – sales, accountant, occupational therapist and financial advisor. This list has merit when compared to the last three recessions when jobs were secure in healthcare, education, legal, IT, accounting and sales and marketing sectors.

Financial services, however, has taken a beating in past recessions. And I happen to know a few moonlighting financial advisors. Evidently, more people are more actively managing their financial assets in good markets and bad. While many companies invest in sales and marketing in a down market, retail sales follow seasonal trends.

The Forbes survey considered which positions had the most job openings during the most recent market downturn, 2007-2008. Clearly, we should place more weight on the most recent recession to account for changing market dynamics. Take advantage of all of the data available and target your research — recession-proof jobs in IT, for college graduates, overseas, and so forth.