The business in the retail and hospitality sector gets the worst hit of the recession. As a result, employees from these sectors may have to encounter job losses. Besides this, people involved in sports, real estate and automotive also experience declining demand for employment during the recession.
What Are the Best Recession-Proof Jobs in India?
What Is a Recession-Proof Job?
Recession-proof jobs are those professions that come with a guarantee that despite the poor economic condition, the demand for work will continue. However, there is no such job that can offer a 100% level of security. Some professions have a higher risk of layoffs during a recession, while others have less.
By the term “recession-proof professions", people mean jobs that are less vulnerable and come with high security during challenging economic conditions. In fact, there are some jobs where the demand actually increases during economic uncertainties.
What Are the Most Recession-Proof Careers?
Following are some professional fields that remain relatively safe during poor economic conditions:
- Healthcare Jobs: Healthcare workers remain secure against job losses even during a recession. When difficult economic crises take a toll on employees' mental or physical health, they get the necessary medical assistance from healthcare professionals. There are many career options in this healthcare field, such as doctors, nurses, pharmacists, physiotherapists, hospital administrators, senior care workers, etc.
- Accountants: Working with numbers is an appalling and time-consuming task for many. This is why most of us flock to accountants to get help with taxation or other financial matters. In addition, having accountants on payroll is crucial for all businesses as they require rigorous and endless calculations of their finances, making this one of the best recession-proof jobs.
- Grocery Store Employees: Even during a recession, we need food to meet our daily requirements. Grocery stores are those places without which the purchase of necessary raw food items will be incomplete. Whether you need rice, milk, bread or butter, you must visit a grocery store, even if the economy faces a recession. This is why grocery store employees do not usually witness the brunt of an economic downturn, especially if they work for a large grocery chain.
- Government Employees: Government jobs come with almost complete protection against the harm of recession. Although the professional opportunities are few, they are stable and secure. This is why people look forward to getting these recession-proof jobs, although it takes years of preparation. People generally need to sit for competitive exams to secure a government job.
- Teachers: Whether it is a recession or a normal economic condition, the roles of teachers are irreplaceable. The progress of the next generation depends on teachers' contribution to a large extent as they prepare students for the future. Teaching comes in the list of government and non-government jobs in India. Whatever the type of employment is, teachers stay relatively secure against job losses that you can see in other sectors during a recession.
- Delivery Drivers: Purchasing online has become a habit for people, resulting in constant demand for the services delivery drivers offer. They carry necessary items from the sellers' stores to the customers' doorsteps. Therefore, you can be a professional delivery driver if you are a skilled and licensed driver.
- Lawyers: You can also see the lawyer as a recession-proof job option since people facing legal challenges must seek counselling despite poor economic conditions. You cannot ignore the fact that during a recession, reports of crimes, bankruptcies and divorce increase considerably. Besides lawyers, other legal professionals, such as courtroom reporters, assistants of lawyers, and court security guards, also stay relatively safe during a recession.
- Veterinarians: Owing to the ever-increasing number of pets nationwide, the demand for veterinarians also increases exponentially. This is so because people do not intend to compromise the well-being of their pets. Despite the economic crises and people facing a reduction in income, individuals will try to find the best expert to care for their pets.
- Insurance Agents: The purchase of insurance has nothing to do with the recession. Even during economic crises, people with automobiles need to pay the premium of a motor insurance policy after its expiry. This demand will also remain similarly relevant for other general and health insurance sectors, making insurance agents one of the recession-proof professions.
- Mechanics: Even after the recession, people need to commute by vehicle from one place to another. This is why vehicle owners can hardly avoid visiting garages, be it for regular maintenance or servicing after a breakdown. Due to this never-ending demand, the profession of trained automobile mechanics also stays safe during a recession.
What Are Recession-proof Crucial Job Skills?
Some essential skills increase your likelihood of getting jobs. To secure your employment even during vulnerable economic conditions, having these skills is better.
Here are some of the skills that will give you a competitive edge while applying for a job:
- Communication skill
- Teamwork skills
- Leadership ability
- Problem-solving skills
- Interpersonal skills
- Learning skills/adaptability
- Strong and positive work ethics
- Computer skills
- Self-management skills
- Organisational skills
- Attention to detail
- Time management
- Ability to multitask
There is almost no profession to which you can attach the "recession-proof jobs" tag. This is because the recession brings a substantial loss in demand for products and services. However, some services like teachership, automobile repair, healthcare, etc., do not encounter too severe a downward trend in their demand. If you are a fresher or looking for a job change, you will stay at an advantageous point by gaining the necessary skills and getting a relatively recession-proof career.
FAQs about Recession-Proof Jobs
During a recession, the demand for products and services declines throughout the economy. Due to this lower demand, employers refrain from hiring professionals. They can even lay off their employees during such situations.
There are certain industries in which the demand for service and products do not decline, even after the panic of recession. Some industries that thrive despite the poor economic situations are education, healthcare, utility, financial advisory, FMCG, etc.
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