Jobs will be in demand during a potential economic downturn – NBC New York (47)


NEW YORK — With soaring inflation, a volatile stock market and layoffs affecting multiple industries, the future of the job market is uncertain at best.

“The worst is yet to come,” the International Monetary Fund warned in its latest report, adding that for many people, 2023 “will feel like a recession.”

Professionals working in the United States are stressed about their job security: About 31% of Americans say they are concerned that their company is planning budget cuts or layoffs, according to a recent survey by Workforce Trust on LinkedIne, which includes data from more than 21,000 professionals.

Still, there are reasons to be cautiously optimistic about the labor market heading into 2023. Job openings continue to outstrip the number of workers available to fill them, layoffs remain historically low, and the rate of The most recent unemployment hovers around a solid 3.7%. near where it was at the start of the COVID-19 pandemic.

While no job is completely immune to economic headwinds, some roles are expected to outperform others during a potential economic downturn in 2023, according to a new report from Payscale.

Here are 10 of the most “recession-resistant” occupations that offer strong job security during an economic downturn, according to the Payscale study:



CNBC

To determine the ranking, Payscale analyzed salary data for more than 1.1 million U.S. workers on its website published between October 2021 and October 2022, as well as hiring and leaving rates for dozens of Office occupations. of Labor Statistics. .

These jobs can be considered “recession-resistant” primarily because of their double-digit salary growth over the past 12 months, says Lexi Clarke, vice president of human resources at Payscale. Some positions earn up to 30% more than last year.

Companies are spending more to fill these positions due to labor shortages and increased competition, Clarke says. She expects these jobs to “continue to be in high demand” even if a recession hits in 2023.

The list includes a mix of essential service jobs and clerical roles that are still reeling from the aftermath of the pandemic, with waiter/waitress claiming the top spot.

Indeed, restaurants are still struggling to regenerate their workforce, says Clarke. Lack of manpower has driven waiters’ wages up.

Other positions, including dockworkers and emergency dispatchers, are also in high demand because it has been more difficult to attract and retain people for these jobs, the report said. However, the services they provide are essential even in times of recession.

While these jobs may be the safest thing to look forward to in a volatile market, if you’re considering a job change anytime soon, you need to be very careful in your search, Peter C. Earle, an economist at the American Institute for Economics Research, caveats.

“Don’t leave and take a job unless you’re absolutely sure you have something safe waiting for you on the other side,” he says. “Now is not the time to mix jobs.”

You can also see these stories:

This article It was originally published in English by Morgan Smith for our sister network CNBC.com. For more on CNBC, head here.

.

Leave a Comment

Your email address will not be published. Required fields are marked *