Job hunting can be difficult in any economic climate, and the added pressures of a recession or downturn can make the process even more intimidating.
Most solid career planning and job search advice apply whether economic times are good or bad. If you're wondering how to find a job during a recession, here are four ideas that could be especially applicable when times are tough.
1. Evaluate Your Target Industries
While any given downturn is historically unique, some industries tend to be recession-resistant and some are usually hit hardest. Consider your skills and whether you should apply them in sectors that are more likely to provide a recession-proof job.
The best jobs during a recession often share common factors. Look for industries that trend toward growth, provide services that are essential regardless of economic conditions, or sectors that people might utilize more heavily than usual during tough times. When it comes to identifying the hardest-hit industries, the worst jobs during a recession usually center around luxuries like travel and entertainment.
Some industries that may resist recession include:
2. Take a Look at Relocation and/or Remote Work
Recessions can affect particular regions or industries more heavily than others, which may change the equation when it comes to determining the best place to live. Evaluate your values, finances, and the cost of living in your area as well as the availability of work in your chosen industry there and in other locales. Should you relocate?
Willingness to relocate could allow you to cast a much wider net when it comes to your job search. Conversely, with remote work on the rise, you may no longer need to live near your place of employment at all.
3. Consider Self-Employment
Opportunity cost is a primary factor that discourages people from pursuing self-employment. Sure, you have a great idea for a business and have always wanted to give it a try. But is it worth investing the time and resources that could be spent on the job you already have?
During a recession, if job prospects or growth are weak or you face unemployment, there may be less risk by giving freelance work or starting your own business a shot. As with any kind of investment, never risk more than you can afford to lose, but if you do have the ability and resources, it may be an opportune time to make it happen.
4. Try a Staffing or Temp Agency
Temporary and staffing agencies can be valuable resources that shouldn't be overlooked. While temp work may take a hit during tough times, it's recently been on the recovery. Whether you're looking for a permanent position or something to help you through a specific period, the option offers significant positives.
Temp jobs can offer a “try before you buy” atmosphere not only for the employer but also for you, allowing you to sample working in a new industry without a permanent commitment. Even if permanent employment at a given job isn't on offer or proves not to appeal to you, the predetermined length of the engagement allows you to network, broaden your portfolio, increase your experience base, and exit gracefully with positive recommendations.
Meanwhile, staffing agencies are run by literal professional job hunters. If anyone understands how to find a job during a recession, it should be them. Having them an advocate and advisor during your job search can help take the pressure off and help you identify opportunities you may have otherwise missed.
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