Industries that have proven vulnerable during recessions include retail, manufacturing, the financial sector and technology, but employment analysts say don’t jump ship yet.
Job placement researchers at Challenger, Gray and Christmas say recession-resistant sectors often change from recession to recession, based on global, economic and societal trends at the time of the slowdown.
During 2008 education, energy, healthcare and security are all areas predicted to defy economic gravity.
Switching gears during a downturn, however, can be a “career-crippling” and financially disastrous move, said CEO John Christmas.
Instead, he recommends focusing on transferring current occupational skills to industries that remain healthy.
Industry switching among job seekers fell to a record low in 2007, but the trend is expected to reverse in 2008 if the economy continues to weaken and jobs become harder to find.