You might have heard that our economy may be due for a recession. If so, you probably made the logical connection that a downturn in the economy could have a big impact on your career. However, while a shifting economy could have significant repercussions, the current economy is still strong, and employers are still hiring at a feverish pace.
If we could offer one piece of advice to anyone who may be on the fence about getting a new job or changing jobs when there’s a predicted recession on the horizon, it would be this: Don’t panic. But also, don’t relax so much that you sleep on a rare opportunity to get your next gig while the getting is good.
Read on to learn about this unique place in time and how acting now could be the best decision you’ll make in 2023.
No, It’s Not Too Late
As we mentioned earlier, the economy and the job market are still going strong. Employers are still having a difficult time filling their open roles.
Right now, there are more jobs than people to fill them. But, as companies slow down their hiring, the number of job seekers could start to catch up. That could make it harder for you to stand out in the job search process.
When there’s more competition for openings, it can also mean that job seekers have less leverage. That could make it harder to negotiate for better compensation or a flexible work arrangement like working from home.
So, while many people are predicting things could change in the future, the best way to prepare for uncertainty is to get yourself hired as soon as possible.
On the Fence About Leaving Your Current Position?
As long-time recruiters, we’ve noticed that there are two main factors that keep people from switching jobs.
First, just like the old saying, “Better the devil you know than the one you don’t,” many workers will opt to continue working a job they dislike because it’s comfortable and secure, while new jobs may come with a lot of uncertainties.
Second, looking for work is … well, work. It can seem like a part-time job in and of itself, keeping track of openings on job boards, sending out resumes, filling out applications and interviewing. And when you already have a job, most people might opt to spend their evening watching a movie and relaxing after work rather than hitting LinkedIn.
A recession has a way of changing that landscape in a jiffy, introducing uncertainties, possible layoffs and more competition for the most sought-after roles. For many, the panic this market can create is all the motivation they need to hit the job search hard. But by then, it might be too late.
But for many others, even the hint of a recession is all the motivation they need to get cracking on a job search.
Here Are the Best Jobs in a Down Economy
While it’s true that no job is completely immune to economic downturns, certain industries tend to be more resilient during a recession. They offer jobs that are typically considered essential and in demand regardless of economic conditions, such as:
ITAC Solution hires for several roles that could be similarly unaffected by fluctuations in the market. But besides essential and in-demand, there’s one defining characteristic that sets any job apart in a downturn.
To put it simply, the best job during a recession is the job you have.
Get Ahead of Uncertainty
Now is the time to act and lock in on the job of your dreams. And we can help. We’re here to take the heavy lifting out of your job search and give you a leg up in the interview process.