While the United States economy may be headed toward a recession, that doesn’t necessarily mean job insecurity. The United States currently has a labor shortage, and many individuals are taking the time to learn the skills they need to enter higher-paying roles. If you are having trouble choosing your new career path or want to learn how to survive in this recession, here are some occupations that will continue to be in demand for the next 8 years.
Umbrella Rationale for Hiring Needs
There are several factors that impact hiring needs. As technology continues to grow, automation continues to shape and improve our jobs. While our current automation capabilities tend to replace low-income workers, automation has created new opportunities in the job market. According to Labor 2030: The Collision of Demographics, Automation, and Inequality, automation could eliminate up to 25% of current jobs but could spark economic expansion by the start of the 2030’s.
Another factor to consider is the changing demographics of the United States. Baby Boomers make up a large portion of the current workforce. While many people will be working past their 60s, their changing needs impact the types of jobs that are available. According to the U.S. Census, older adults will outnumber children by 2030. The declining birth rates will lead to fewer people entering the workforce.
These strong shifts in the labor force and growing technology will impact the job market in several ways. If you are looking for fast growing jobs that will be in demand long after the recession, explore these occupation sectors.
Business
While we are entering a recession, that doesn’t mean business isn’t booming. There are several types of businesses that thrive during and after economic challenges. If you are looking for a recession-proof career, then pursuing a bachelor’s degree in business could be the solution. Even if the most profitable industries change over time, there will still be a strong need for individuals with business knowledge.
General and operational managers are currently in-demand and there are 226,300 new job openings projected for 2021 to 2029, making it the second most-needed position. A general management degree will provide you with the business skills you need to be successful in a wide range of industries. With a bachelor’s degree, the median income of a general or operational manager was $97,970 (1).
Financial managers benefit a lot from new technology and automation efforts. While pursuing your bachelor’s degree in financial management, you will learn several software programs and automated tools to help you track and budget money. While independent financial managers are in-demand, there are several companies seeking people to help them better oversee their finances. In fact, financial managers are the fourth in-demand job, with a projected 118,200 openings. The median annual salary for a financial manager is $131,710 (2).
Management and business analysts will also play a large role in our future economy. An analyst leverages data to assess business practices and make recommendations to executives. With automated tools, the data analysts can utilize becomes clearer and accessible. Companies frequently hire analysts to help them navigate through uncertain times and there are an estimated 124,400 open positions available. The median salary for a management analyst is $93,000 (3).
Market research and marketing specialists always play a critical role in raising awareness for products and services. As technology continues to grow, businesses in every industry need to leverage out-of-the-box thinking to develop the strategies needed to reach their target audience. While some forms of marketing can be learned without a degree, earning a Bachelor’s in Marketing can help expose you to a wide range of modern strategies and research techniques. With 163,600 projected openings and a median salary of $63,920 (4), it is easy to see why people of all ages are choosing this career path.
Accountants and auditors are also a necessity of every business. Accountants help track and manage daily finances. Auditors help to ensure regulations and
guidelines are followed in the workplace. Both positions can be learned through a bachelor’s or associate degree, making them a great choice for people who want to shift careers later in life. Accountants and auditors both have a median wage of $77,250 (5) and there are a projected 96,000 open positions.
Engineering
Innovation is an important part of any growing society. Engineers work to develop, build, and maintain structures; however, they also help to advance technology. For example, there is a growing demand for green technology. This has led to several businesses, organizations, and individuals to seek innovative building solutions to reduce their carbon footprint and curve ongoing maintenance expenses.
Most types of engineering are considered recession-proof because of the role they play in society. Chemical engineering, for example, is a highly specialized field that impacts most manufacturing. During turbulent economic times, there are a few engineering career paths that tend to be utilized more than others.
Industrial engineers often focus on reducing production waste and boosting the efficiency of machines and materials. Businesses, like consumers, always want to reduce costs, so there is a consistent need for industrial engineers regardless of issues impacting the economy. There is a projected 40,000 openings for this specialized field and the average starting wage with a degree is $95,300 (6). While pursuing your degree, you can also explore industrial machinery mechanics positions, another fast-growing career.
Construction managers lead civil engineering projects. Regardless of the economy, people need well-built and maintained buildings, roadways, bridges, and infrastructure. As a construction manager, you’ll utilize strong leadership and communication skills to coordinate daily activities. With a bachelor’s degree, construction managers earn a median annual salary of $98,890 (7).
Health Care
There are several factors impacting the demand for healthcare workers. Since the COVID-19 pandemic in 2020, there have been shortages in nearly every healthcare position. There is an immediate need for nurses, physicians, and educators. Entry-level positions aren’t the only ones affected by this shortage; it is becoming increasingly harder to fill leadership roles with qualified candidates.
In addition to the unique challenges within the industry, there has been an increase in demand for care by an aging population. Baby Boomers, for example, are prone to several health issues such as hypertension and diabetes. This means there needs to be more professionals available to help treat these conditions.
Automation can also play an important role in modern medical treatment. In addition to helping collect patient data, automated machines are frequently used to monitor patients and conduct analysis. This has created a stronger need for healthcare workers to learn technical skills, such as troubleshooting and data analysis.
While there are several advancements in medical technology, there will always be a need for medical professionals. Here are some examples of in-demand jobs within the healthcare industry.
Registered nurses are the third-most in-demand career, with 276,800 projected job openings. This is due largely in part to the pandemic; however, it is important to consider that a large portion of the workforce will be retiring within the next few years. The median pay for a registered nurse is $77,600 (8) and a bachelor’s degree is required for the position. If you would like to expand your nursing skills, there is also a heavy demand for nurse practitioners, with 114,900 estimated openings. To become a nurse practitioner, you will need to earn a Master’s degree, but the median pay is $120,680 (9).
Medical and health services managers combine business expertise with their knowledge of the healthcare industry. Medical managers coordinate services in hospitals, clinics, and facilities. They also establish policies, manage budgets, and provide administrative support to the organization. Median wages are $101,340 (10) for this in-demand role.
Postsecondary health specialties teachers have a critical impact on the industry, especially as technology continues to grow. With new automated services and advanced tools being developed every day, it is important for healthcare professionals to have access to the latest information available. While there is a country-wide shortage of educators, there is a continued increase in demand for teachers with a background in healthcare. There are an estimated 58,900 new jobs available for postsecondary health specialties teachers, many of which require a doctoral degree and field experience. This specialized field in education has a median pay of $102,720 (11).
Physical therapists are always in demand, even during uncertain economic times. As we age, our bodies can become frailer and can be easily injured. While people of all ages see physical therapists, there is an increasing demand as Baby Boomers continue to grow older. With a doctoral degree, physical therapists earn a median salary of $95,620 (12).
Physician assistants are in demand for all areas of healthcare, including surgeons, family care physicians, psychiatrists, and emergency care providers. An assistant frequently examines patients and administers treatment. Their role is to help doctors treat a larger number of patients. There is an estimated 40,100 new jobs available for physician assistants holding a master’s degree, and that number isn’t expected to decline. The average median pay for a physician assistant is $121,530 (13).
Substance abuse, behavioral disorder, and mental health counselors are increasing in demand as the recession looms closer and other factors can make the daily lives of people more stressful. While this job places at #30 on the list of in-demand occupations with an estimated 75,100 new jobs and a median wage of $48,520 (14), counselors will continue to play an important role in society for years to come.
IT
Technology is growing at an incredibly rapid pace and every industry struggles to try to keep up. The U.S. Bureau of Labor Statistics expects computer and information technology occupations to grow 13% from 2020 to 2030. This makes it among the fastest-growing industries. As technology continues to expand and make our everyday lives easier, there will be a larger emphasis on data storage, information security, and cloud computing.
Software developers and software quality assurance analysts and testers are the most in-demand profession and the need for qualified individuals in that field will continue to grow regardless of the economy. There are an estimated 409,500 job openings and the more we utilize technology, the greater the need for quality control and testing. While there are several positions within this category, bachelor degree holders earn a median income of $120,730 (15).
Computer and information systems managers will continue to play an important role as automation continues to grow. A systems manager will strategically plan, install, and monitor all of the software and hardware an organization needs to function. They will leverage their expertise to identify new tools, processes, and systems to boost security and efficiency. Because they are utilized by almost every industry, there is an estimated 52,700 new job openings. Because many systems managers are difficult to replace, they earn a median income of $159,010 (16).
Computer systems analysts learn an organization’s computer system inside and out. Their goal is to consistently identify and implements ways to improve. Working alongside systems managers, analysts often work long hours to troubleshoot issues. While many companies seek computer systems analysts with only a bachelor’s degree, you may want to consider investing in several technical certificates as well. There are an estimated 42,800 new job openings with a median pay of $99,270 (17), but each role will have different technical requirements.
Information security analysts are also a crucial part of any organization that utilizes a large computer system or network. Information security analysts also identify ways to improve digital security systems. Because many organizations also have a strong social media or web presence, analysts often investigate security breaches and mitigate risks. This highly specialized field is also considered recession proof with 47,100 expected job openings. Like other specialized technical roles, this position typically requires a bachelor’s degree and has an average median pay of $102,600 (18).
All other computer occupations are expected to grow throughout the recession. As more automated tools and services are being implemented, there will be a growing need for specialists to program, maintain, and implement technology. There are a very broad range of recession proof jobs with a median wage of $95,270 (19).
Government
Many people consider government jobs to be recession-proof; however, there are several other factors that impact the types of jobs that are in demand. While there is a major shift in demographics across the United States, there is still a steady need for some professionals regardless of location.
Elementary school teachers (except special education) and secondary school teachers (except special and career education) are both seeing heavy shortages. While elementary school teachers are in greater need than secondary school teachers, both have similar median pays of just over $61,000 (20, 21). There are several reasons for this increase in demand. For example, there is an increase in overall student enrollment. Like nursing, there are also a large number of Baby Boomers retiring or leaving the profession. After the recession, there will also be a strong need for teachers as classes that were cut begin to be reinstated.
Keep in mind that the government also employs IT specialists, engineers, financial experts, marketing and public relations specialists, project managers, and more. These positions will also become more available as cities continue to grow. According to The United States Census Bureau, the populations of southern and western cities are rapidly increasing. San Antonio, TX, for example, is one of the largest growing cities between 2020 and 2021. This means that there could be more job openings in states like Idaho, Florida, Arizona, Nevada, and Texas in the near future.
Do I need a Bachelors Degree to Get a Recession Proof Job?
While many of the fastest growing jobs in the United States require a bachelor degree, there are still several opportunities for workers with associate degrees or technical certificates. Some examples include sales representatives, truck drivers, and electricians.
Having a bachelor’s or master’s degree can help you gain a more specialized position with long-term growth potential. Exploring your education options can be a great way to find a career that interests you. You’ll also learn more about the economic factors and technical advancements affecting your industry.
How to Get Recession Proof Jobs
Degree Solutions helps students by connecting them with colleges and universities that meet their needs. Whether you are interested in a specialized technical degree or want to explore opportunities in the healthcare industry, we are here to help. Contact us today to learn more about the fastest growing jobs in the United States and explore your options.
1) https://www.bls.gov/oes/current/oes111021.htm
2) https://www.bls.gov/ooh/management/financial-managers.htm
3) https://www.bls.gov/ooh/business-and-financial/management-analysts.htm
4) https://www.bls.gov/ooh/business-and-financial/market-research-analysts.htm
5) https://www.bls.gov/ooh/business-and-financial/accountants-and-auditors.htm
6) https://www.bls.gov/ooh/architecture-and-engineering/industrial-engineers.htm
7) https://www.bls.gov/ooh/management/construction-managers.htm
8) https://www.bls.gov/ooh/healthcare/registered-nurses.htm
9) https://www.bls.gov/oes/current/oes291171.htm
10) https://www.bls.gov/ooh/management/medical-and-health-services-managers.htm
11) https://www.bls.gov/oes/current/oes251071.htm
12) https://www.bls.gov/ooh/healthcare/physical-therapists.htm
13) https://www.bls.gov/ooh/healthcare/physician-assistants.htm
14) https://www.bls.gov/ooh/community-and-social-service/substance-abuse-behavioral-disorder-and-mental-health-counselors.htm?view_full
15) https://www.bls.gov/ooh/computer-and-information-technology/software-developers.htm
16) https://www.bls.gov/ooh/management/computer-and-information-systems-managers.htm
17) https://www.bls.gov/ooh/computer-and-information-technology/computer-systems-analysts.htm
18) https://www.bls.gov/ooh/computer-and-information-technology/information-security-analysts.htm
19) https://www.bls.gov/oes/current/oes151299.htm
20) https://www.bls.gov/oes/current/oes252021.htm
21) https://www.bls.gov/oes/current/oes252031.htm