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Talk of a recession and creeping unemployment rates are enough to make you wonder: Where can you find stability in unstable times?
Job security may not be your top criteria when choosing a job. But whether you're selecting your first career path or making a switch, it's worthy of consideration, especially in light of the current economic situation. There is no job that has 100% security, says Randall Hansen of Quintcareers.com. However, "workers in certain industries can have more comfort in knowing that, even if they are fired, there is so much demand they should be able to find another [job] very quickly," he says.
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We consulted career experts and combed through job trend data to come up with five industries that should provide safer havens to workers, no matter what the economy is doing.
Health care
Many of the nation's fastest-growing careers are in the health care industry, according to the Bureau of Labor Statistics. An increasingly aging population fuels demand in this field. And these careers should stay in demand for years to come. Some specific jobs with stable prospects include doctor, nurse, pharmacist, physical therapist and physician assistant.
Education
Just as everyone will always need a doctor, the need for teachers isn't going away either. Teachers for any grade level who specialize in high-demand fields such as math, science or bilingual education should have an easier time finding and keeping a job. And the outlook for college instructors looks stable, too. College enrollment is rising as the number of 18- to 24-year-olds increases. And more adults are returning to school to enhance career prospects.
Some areas of the country are more stable than others for teachers because education jobs follow population trends. So teachers in fast-growing states in the South and West, such as Nevada, Arizona, Texas and Georgia, will have more opportunity than in slower-growth areas in the Midwest and Northeast, according to the BLS. Inner cities tend to have more sustained demand than rural or suburban areas.
Security
Crime doesn't stop in a recession. That makes security jobs, such as police officers, detectives, private security guards and international security experts, a good bet. Layoffs in this industry are rare, according to the BLS. In the off-chance law enforcement officers lose their jobs to budget cuts, they have little difficulty finding jobs with other agencies because demand is so high.
Environmental sciences
The current "green" movement reaches far beyond changing your light bulbs to fluorescents. It's also translating into a solid career choice. The BLS expects environmental careers, including ecologists, hydrologists, environmental chemists and others, to grow 25% over the next decade -- much higher than the average for other occupations.
Demand will be driven as the population increases and moves to environmentally sensitive locations. Plus, there's an increased need to monitor our impact on the environment and to help planners and developers build in ways that protect water resources and that use land more efficiently, says the BLS.
Government
Some of the most stable jobs around are within the federal government, where firings and lay-offs happen at just one-quarter the rate in the private sector, according to the BLS. One reason: Even in hard economic times when big businesses are forced to downsize, the government must carry on. And only one in every 5,000 non-defense workers is ever fired for poor performance each year, says the Cato Institute. Those are pretty nice odds.
Due to an increasingly aging workforce, the government is doing a lot of hiring lately, especially among the 20-something crowd. Uncle Sam hires workers across a broad range of fields from accounting to zoology. See Should You Work for Uncle Sam? to learn more.
No college degree?
Workers without a higher education may have a harder time finding a stable career with a good paycheck, says Hansen. But possibilities exist. The key is to look for jobs that cannot be outsourced overseas. Hospitality and retail are stable industries for workers without a four-year degree. Health care is also a good field, particularly such jobs as home health aid and medical or dental assistant. Electrician and auto mechanic are also durable choices.
It's worth your while, however, to get as much education as possible. "Doing so leads to more career opportunities, better job security and higher wages," Hansen says.
Recession-proof your career
No matter what field you work in, you have the possibility of losing your job. But there are things you can do to protect yourself and increase your odds of getting another job, just in case.
"People should never be complacent," says Hansen. "While you do not have to be job-hunting everyday, people should be proactive about their careers." That means always keeping your resume current and building a professional network in your field.
You should also work to promote yourself within the company, says Hansen. Try to position yourself as the go-to person, and keep an eye out for ways you can save the company money or increase profits in tough times. Volunteer quickly for assignments, be cheerful, maintain high visibility and follow up with your boss to keep him or her abreast of your accomplishments. See How to Avoid Getting Fired for more tips.
POSTED BY: Joe Honick (October 13, 2008 06:03 PM)
For the lucky person in the military who never worried about losing his job, he apparently did not know how many reductions in force have taken place that put many officers into civvies.
The one recession proof job you left out: funderal directors. Cheers!
POSTED BY: Damian (October 18, 2008 01:57 PM)
Everybody forgets the hvac/r guys. Everybody needs there supermarket refrigeration running at all times. No matter what time of year it it is.
POSTED BY: Robert Labossiere (November 08, 2008 02:53 PM)
During tough economic times, what we generally call "vices" probably fare well. Bars and liquor stores, for example, and the distilleries that supply them. Prostitution probably increases. Also smuggling, loan sharking, drug dealing, petty theft, though I'd guess you couldn't really call any of these "safe havens" exactly or recommend them as career choices :) I wonder about the impact on the media/marketing industries. Will people watch more or less television? Will it be better or worse quality? Do people advertise more to better compete, or less?
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