Recession Resistant Degrees & Careers

When economic conditions shift, people begin to worry about what that can mean for their job security. The economic climate can change in what seems like an instant. However, certain careers and degrees can set you up for more security, even when there's rampant economic uncertainty.

What Does Recession Resistant Mean?

For a career or degree to be recession-resistant, it means that even in an economic downturn, the job will still be secure. The cyclical nature of recessions can be hard to fully understand, so planning for tough times even when there isn't a great recession looming is important.

People who work for small businesses or are starting a new business are less likely to be recession-resistant than established larger companies. Companies that have been around longer are more likely to have infrastructure in place to weather an economic storm.

If you're evaluating what makes a career recession-resistant, start by asking yourself how reliant on disposable income is the career. For example, healthcare careers like nursing, will be essential no matter what state the economy is in.

What Jobs Are Most At-Risk During an Economic Downturn?

Jobs that are most at risk for layoffs during a recession are the ones that rely on people having money that they can freely spend. Real estate agents, for example, can only sell houses to people who have money or a good economic standing to qualify for loans. During recessions, home buying often decreases drastically.

Construction and other home improvement industries are also highly affected by the economy at large. With less disposable income, people put off home improvement projects provided by construction workers.

Non-essential services are the most likely to be impacted by a negative economic cycle. Just because a job isn't considered an essential service, doesn't mean it doesn't have value or can't provide a good income, but these jobs are less recession-resistant.

Which Industries Are Considered To Be the Most Recession-Resistant?

There are several recession-resistant industries, mostly ones involving physical well-being or preservation. The healthcare industry is one of the most recession-proof businesses because of the never-ending need for medical care, regardless of the economic condition of the country.

How Can I Make My Career Recession Resistant?

Although there are no truly recession-proof industries, there are steps you can take to make your career more resistant to tough economic times.

The Bureau of Labor Statistics has data about the Great Recession (which ran from late 2007 to mid-2009) and the growth rates of various careers and several trends appear in which industries and careers are more likely to suffer during economic downturns.

One of the best ways to make your career recession-resistant is to find a career that will be in high demand, regardless of economic condition. Careers in the healthcare industry, education, financial services, and others will have value regardless of how the economy performs.

As seen in the 2020 pandemic and recession, there was a renewed discussion around essential services and providers. Finding a degree program that prepares you for one of these essential services can help make your career recession-resistant.

Top 10 Recession-Proof Jobs

Although economic conditions can negatively impact any career, several recession-resistant industries will be more likely to have consistent cash flows, even during a recession.

1. Healthcare jobs

Degrees to work in the healthcare industry are among the best recession-resistant degrees and careers, particularly nursing and pharmaceutical work. No matter how bad the economy gets, people will still get sick or need care for chronic conditions.

2. Cybersecurity

As the world continues to become technologically reliant, cybersecurity continues to grow in importance. Especially during a recession, protecting a company or government's assets is essential. Earning a degree in cybersecurity can help set you up to work in this recession-resistant industry.

3. Financial Services

When people are worried about how the stock market will affect their retirement or other assets, they turn to financial advisors. During an economic downturn, the role of people who can help explain where to invest money and how to protect your assets provides an essential service.

4. Childcare

During a recession, people might need to work more or both parents need to work. Childcare is an additional expense, but it is often one that is required, even during tough times.

5. Working In A Grocery Store

Although there is rarely a degree requirement for working in a grocery store, this line of work is one of the most resistant to recessions. Food and other consumer staples will stay in high demand even when the economy begins to slow down. Discount retailers, in particular, like Walmart will often become more popular as people look to save money.

6. Education

Schools, regardless of education level, will be fairly independent of the economy. Although college enrollment might see a change as people have less money to spend, there will still be people looking to work on their degrees to prepare themselves to handle the next downturn in the economic cycle. Teachers and school administrators will both be in demand during recessions.

7. Repair and Trades

Although construction and other new projects might take a pause, homeowners will still need to make repairs and hire emergency services. One advantage to careers like this is that many don't require a college degree, instead, they involve trade school and apprenticeships.

8. Therapy and Mental Health Services

When there is economic distress, people often see a decrease in their mental health. Professionals who have degrees in mental healthcare-related fields might even see an increase in demand for their services as opposed to times when the economy is thriving.

9. Staffing Agencies

As workers suffer from layoffs related to an economic downturn, staffing agencies are in high demand. Graduates with degrees in human resources or other related fields are positioned to help these people get back into the workforce.

10. Law Enforcement

Sadly, economic downturns often lead to an increase in crime rates. Law enforcement workers are in high demand during recessions because of this, especially police officers and detectives.