According to a DOLE report released in October 2020, the Covid-19 issue cost almost 3.5 million Filipino workers their employment or resulted in salary cuts across the country. According to a SWS poll, adult unemployment reached a new high of 45.5 percent in July.
The pandemic set off a vicious cycle in which businesses were unable to generate revenue to function (due to a lack of sales), which led to employment cuts, and people’s purchasing power to buy products and services from businesses was eroded.
When a country’s economy is in trouble, it is called a recession. It’s prompted by a general drop in spending due to inflation, high interest rates, consumer confidence, stock market crashes, and natural disasters (such as a pandemic) and lasts for several months.
Because of these factors, recessions occur on a regular basis. While no one can foresee when or for how long a recession will occur, we as people naturally want to be financially safeguarded from these economic ups and downs.
We want occupations that will prove to be more “resilient” in the face of adversity, such as a recession. In this post, we’ll look at industries and jobs that are more likely to remain stable during recessions or other difficult economic times.
Job Characteristics that Are Recession-Proof
What makes one profession more resilient than others in times of economic hardship?
Using the list of positions below as a guide, we can notice three (3) essential characteristics that are prevalent. These are the following:
Jobs that are necessary or important
A society’s ability to function depends on its ability to obtain some of the most vital services that satisfy our most basic needs. Food, healthcare, law enforcement protection, public utilities (water and electricity), and education are all essentials, and demand for these items will always be present.
Addresses an issue or meets a necessity
The following services are those that improve our quality of life or solve a persistent need or problem. These are the things that assist us in accomplishing a variety of tasks on a daily basis and make them more convenient.
Another feature that most of these jobs have in common is the high level of specialization necessary to do them. These are vocations that require more than a few weeks or months of training.
Professionals with these positions are important because of their experience and high degree of competence, making them less likely to be laid off, especially in difficult economic times.
Philippines Jobs that are Recession-Proof
To be clear, no job is recession-proof in its entirety.
However, the following list highlights some of the most resilient jobs throughout a slump.
- Police Officers
- Public Utility Specialists
- Teachers and Educators
- Logistics personnel
- Physical & Occupational Therapists
- Social Worker
- Mental Health & Substance Abuse Professionals
- IT Workers
- Pharmacists & Pharmacy Technicians
- Senior Care Providers
- Librarians & Archivists
- Cloud Systems Administrator
- Database Administrator
- Software Developer
- Government jobs
Alternative: Work from home or from a distance
In recent years, there has been an increase in the number of Filipinos working remotely or from home (online).
According to a Payoneer research published in 2019, the Philippines placed 6th among nations with the fastest-growing gig-industry/freelancing markets, with freelance incomes increasing by 35%.
People wishing to harness their skills in a global economy can find remote and home-based online jobs as a feasible alternative to traditional 9-5 occupations. There are advantages and disadvantages to everything.
The most important point here is that freelancing work has the potential to augment or replace jobs that are at risk of being lost during a recession. The following is a list of 35 high-paying remote and online jobs for Filipinos, based on our article. For a more in-depth look at the issue and the specifics of each position, click the link.
- Digital Marketing Manager/Analyst
- Client Services Specialist
- Business Analyst
- App Developer
- Systems Engineer
- Technical Writer
- Quality Analyst
- Web Designer & Developer
- Virtual Assistant
- Web Content Writer/Producer
- Graphic Artist/Designer
How to Make Your Job Recession-Proof
Some jobs are considered to be more resilient than others during economic downturns, as we’ve shown above. However, no job is completely immune to the consequences of the recession.
There are a number of elements that influence a company’s decision on how to manage and retain its employees amid difficult economic times. From a professional standpoint, this is mostly out of our control or decision.
We may, however, boost our odds of surviving (against layoffs) or, in the worst-case situation, ready ourselves for hiring. Here are some pointers:
Make yourself indispensable.
Simply said, add value to your boss and team. Being a go-to person doesn’t necessarily imply that you take on everyone’s work; rather, it means putting yourself out there and doing whatever it takes for the team’s overall good.
You have more leverage when you make yourself indispensable. And this could be vital in saving your job if you’re facing layoffs.
Improve your job-specific skills
Always be learning new talents and honing those you already have.
Not only will these new abilities be valuable in your current job (and will be taken into account throughout the hiring process), but they will also provide you an advantage in the job market if the company closes or downsizes.
Develop your soft talents.
Soft skills are non-technical abilities that are specific to your work. Time management, attention to detail, and communication abilities are just a few of them.
Improving these skills will give you a more well-rounded skill set that will help you in other aspects of your life.
Keep up with industry developments.
Keeping up with the newest advances in your field broadens your knowledge and offers you insights that you may apply to your current or future jobs.
Spend time reading news, industry blogs, podcasts, and other sources of information. Staying current on these events and trends will be beneficial in the long run.
Let’s face it: being “visible” at work by being proactive (e.g., volunteering for business events, planning events, and so on) is a great way to get yourself known.
Increase your network
Develop genuine connections with other experts in your field. If layoffs are unavoidable, some of these folks may be able to assist you in finding new employment.