Mallory
How can I decide on a career that will remain stable in our wavering economy?
I know that the economy has a major impact on jobs and success. I want to choose a career that will be least impacted by a bad economy. What are some examples of stable jobs, even when the economy is bad? #economy
3 answers
Leahanne Thomas
Leahanne’s Answer
Mallory, I think what you're really asking is how to ensure you will be financially safe. The short hard answer is - you can't. A technology could come to market that no one has conceived of that makes an entire industry obsolete. The best insurance you can have is to make sure you're in a career you're best suited to, that you're really good at and that you really enjoy. This will protect you from the more prevalent job disruption - being involuntary terminated due to performance.
Also, keep your skills fresh, always be looking to grow and develop - technically and emotionally, and read about what's happening in your industry. This will help you see what's coming down the pike, and allow you to adjust. You may have to make a pivot at some point due to changes in the economy/industry, but if you've kept up your skills and industry awareness, you'll be ahead of the pack instead of run over by it. Good luck!
Leahanne recommends the following next steps:
Rob Miller
Rob’s Answer
1) Look for mega trends. The things that are starting and will last into the foreseeable future (i.e...AI, Robots, Automation, Communications, Machine Learning, etc...)
2) What jobs will be needed - Let's say Robotics is a trend (automated vacuum cleaners, automated lawnmowers, etc...). What jobs may be needed. Fabrication, coding, repair, installation, etc...
3) Who are doing these jobs today? Who is hiring? Will people be able to live without the services provided by the business providing these services.
Businesses that work within mega trends tend to be protected within economy downturns. I've worked in telecommunications for 26 years. People need their cell phones...so no impact to the business in the 26 years.
I'm not saying that the examples above are the right ones...but hopefully it will give you some ideas to get started.
Do your research and you will make great choices.
Theresa White
Theresa’s Answer
That is a great question. There are two resources that I suggest to my clients:
1) Career One Stop shows which careers are growing the fastest: https://www.careeronestop.org/JobSearch/Plan/whats-in-demand.aspx
2) U.S. BUREAU OF LABOR STATISTICS, while not as easy to navigate as the first website, has the most up to date information on the projected future growth of careers: https://www.bls.gov/ooh/occupation-finder.htm. Navigate to the Occupational Outlook Handbook > Occupation Finder, and you can filter by the projected growth rate and view all careers in terms of their future projected growth.
The first website, Career One Stop, also has some career exploration tools that can help you find what careers could be a good match for you and then you can look at their projected growth from there. But when using theses assessments keep in mind that they are just making suggestions and in the end you know yourself better than any computer assessment.
While it is important to find a career that is stable and with a good outlook - it is just as important to find a career that you will enjoy. Start by thinking about what types of tasks you enjoy and how they can be used professionally. Then research the industries and stay up to date on any new developments. Networking and conducting informational interviews are also important to get an inside perspective on any industry. And always keep learning and furthering your skills. Unexpected events can happen (just like the current pandemic) and job seekers who continue to enhance their skills and keep learning are the most likely to persist through challenging times. Last but not least, trust your instincts when making a decision.
Wishing you all the best!
Theresa recommends the following next steps:
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