A recent report released by the private equity consultancy BlackRock warns that a global recession like no other is just around the corner.
And although this crisis is expected to have a much smaller impact on society than those of the last 40 years, it is still causing the labour market to falter. An economic panorama that has triggered the Employees’ concern about layoffsas explained to Business Insider Glassdoor UK economist Lauren Thomas.
On the company ratings site where Thomas works, mentions of layoffs have doubled since last October, talk of inflation has tripled, and the use of the term recession has increased. has multiplied “almost by 10”.
Employees have been thinking for some time about how a economic crisis their future careers. This summer, nearly 80 percent of American workers surveyed by Insight Global said they were worried about losing their jobs if their country experienced another recession.
While it’s difficult to find a job that’s truly “recession-proof,” some industries offer more security than others. Business Insider has spoken with several labor experts and economists to detect What are the most stable jobs? and those who are most in danger.
Jobs that are most at risk
Technology positions
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Behind him boom of hiring brought on by the pandemic, a wave of layoffs has swept through the technology sector in recent months, with significant staff cuts that have affected giants such as Goal (parent company of Facebook, Instagram and WhatsApp), Twitter and Amazonwhich have led to the dismissal of more than 24,000 workers in just a few days.
Tech companies are taking a premature economic hit, partly caused by a slowdown in digital advertising spending.
Glassdoor economist Thomas notes, however, that highly specialized tech professionals are still in high demand and are likely to be quickly rehired if laid off.
Construction sector
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The constructionwhich relies heavily on people being able to access affordable loans at reasonable interest rates, tends to be hit hard in the early months of a recession, several experts say. Business Insider.
Construction sector jobs are not only vulnerable because of their dependence on external factors, but because they are often put in place less flexible than those in other sectors when it comes to reducing their operations, says Brian Greenberg, founder and CEO of the American insurer Insurist.
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“For example, if you’re a laborer whose company laid off half its staff during a downturn, you’ll likely be able to find work elsewhere, even if your boss never comes back to you. However, if you’re an architect who specializes in designing buildings for new developments, you’ll likely have nowhere to go when you’re laid off,” Greenberg explains.
E-commerce and social networks
Following the pandemic, recruiters are already beginning to see a decline in demand for positions related to the digital world.
“The consumption of certain technologies, such as e-commerce or social networks, has decreased in the last year,” says Thomas, from Glassdoor, based on the fact that this type of professional profiles has been affected by the decline in consumer demand of these products after the pandemic, a period in which much of the marketing and purchasing was done online.
According to Glassdoor’s economist, “although the fundamentals of the sector are solid,” companies that are still adapting to the new normal may suffer a slight short-term contraction.
“Recession-proof” jobs
Health
Among the professionals who enjoy greater job security during a period of crisis are those doctors and the Nursesbut also, for example, the pharmaciststhe physiotherapists or the caregivers of the elderly and disabled, says Bartosz Sawicki.
Sawicki, market expert at the fintech Conotoxia and macroeconomic analyst, assures that the same occurs with veterinarians, “since, as our civilization develops, We take more and more care of our dogscats and other pets.”
LinkedIn Senior Economist Kory Kantenga agrees with Sawicki that healthcare is a field that is typically less exposed to fluctuations in the business cycle and, therefore, to those in the labor market.
Education
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Teaching is a high-demand profession, and professors rarely work remotely, making it harder to recruit them, according to Thomas, the Glassdoor economist.
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For his part, Conotoxia market expert Bartosz Sawicki adds that “it is likely that the largest The number of university graduates will increase even furtherwhich translates into a demand for teachers, especially in fields that have to do with technology, ICT, medicine or the right“.
Public safety and social services
Public safety and social services jobs “tend to remain stable and sometimes even grow during economic downturns, as governments pour more money into programs like job training to try to stabilize recessions,” says LinkedIn’s Kory Kantenga.
These positions include government officials, law enforcement agents, Police and the Civil Guardthe firefightersemergency medical technicians, prison officers, security guards and workplace health and safety specialists, as well as labour inspectors.
“Generally, the elimination of funds for educational, health and social services, or citizen security is usually an unpopular political measure during a crisis,” says LinkedIn’s senior economist.
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