Here are the industries and skills that hold up during economic downturns.
Transcript:
ANDREW MCCASKILL: The industries that tend to do really well in an economic downturn are your necessary services. Healthcare, education, law enforcement. Those sectors actually are going to be pretty economy agnostic. I think when you start to think about where are those places that maybe you should think about avoiding, is those industries that are very dependent upon sort of discretionary income. You know, retail, restaurants, hospitality, travel, those are some of the industries where you might not see as many new opportunities opening up, and their hiring may be a little bit more internal. Hiring when they do have roles that open up.
If you’re thinking about how can I recession proof my career, I think you need to start thinking about that right now and start building out a plan for what would you do if you actually needed to go out and get a job doing things like doing a skills assessment? Figuring out where your gaps are in skills. Looking at our skills on the rise list, are there skills that are on that list that you don’t have? Because if there are, they’re LinkedIn learning courses correlated to every single one of those skills that are free so that you can bone up on them. The other thing is start to think about, OK, maybe I can get these new skills in other ways. Can I ask for a stretch assignment at work, or ask my boss or manager if there’s new opportunities for me to take on in the interim, even if you don’t necessarily end up needing a job or needing to go out and get a job later, the fact that you’ve done that work, even internally with your manager could bode well for your career either way.
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