As the need for certain positions shifts with the economy, establishing job stability can be difficult. If you are unsure of what career path you want to venture down, it is important to consider what jobs can survive a recession.
While the U.S. economy has been stable in recent times, the potential for another big recession is always looming on the horizon.
To ensure your financial prospects are sound, choose a career path projected to make a substantial income regardless of the economy’s influence. The Bureau of Labor and Statistics has collected data reflecting the most secure jobs for those who are weighing their career options. If you are settled in a job but you are struggling to maintain stability, consider taking steps to change careers. Switching fields may be necessary for you to find a secure job you can rely on for the foreseeable future.
One of the most lucrative career ventures involves becoming a service technician for the wind turbine industry. You do not need to complete extensive schooling for this opportunity, though you will need as a certificate in this field to earn a role as a service technician.
Related article: Financial Planning: Are you doing enough?
As of 2016, there were approximately 5,800 wind turbine service technician positions available across the U.S., and the growth rate for this career venture is around 96 percent. This means by 2026, there are expected to be an additional 5,600 jobs available in the wind turbine industry. The median pay for this position is around $53,880 as of 2017.
For those looking at a career change or a prospective job opportunity with minimal education requirements, consider the idea of becoming a solar photovoltaic installer. This position has a median pay of around $39,490 and all you need to apply is either a high school diploma or an equivalent certificate.
As of 2016, there were approximately 11,300 solar photovoltaic installer positions available, and this industry is on pace for a growth of 105 percent over the next 10 years. Through 2026, the Bureau of Labor and Statistics projects that an additional 11,800 positions are going to become available across the United States. This provides ample opportunity to engage in a career change or to apply for open positions for this industry as they become available.
If you are interested in a career focused on providing help and care for others, consider pursuing a job as either a home health or personal care aide. For this position you need either a high school diploma or an equivalent degree, such as a GED. The median pay for this position is slightly less than others with the same level of stability, as home health aides and personal care aides make around $23,130 annually.
The growth rate for this industry is around 41 percent, with approximately 1.2 million jobs being added to the market by 2026. As of 2016, there were around 2.9 million positions available between the home health aide positions and the personal care aide positions combined. Note that while you need to be certified to retain this position, many employers provide the training you need once you are hired into a specific company.
If you are interested in helping others and have time for additional schooling, consider the prospect of becoming a physician assistant. The median pay for this role as of 2017 was around $104,860 annually, and the growth rate for this industry hovers around 37 percent. However, becoming a physician assistant requires a master’s degree for most of these job opportunities.
Related article: How to Save Money for College
As of 2016, there were around 106,200 physician assistant jobs available across the U.S., and this number is expected to increase by approximately 39,600 jobs over the next 10 years. While you will need to invest in the education to become a physician assistant, the higher salary and job stability could make it worthwhile. Graduates in the medical field more commonly find work after completing school.
Entering the field of mathematics often requires a master’s degree, but this lucrative field holds ample opportunities for those who can invest in the education. Careers as either a mathematician or a statistician are poised to see a growth rate of 33 percent over the next 10 years.
As of 2016, there were approximately 40,300 jobs available for a role as a mathematician or as a statistician. By 2026, an additional 13,500 jobs are going to be added to this overall total. People who go on to become a mathematician or a statistician make a median income of $84,760 annually which helps to pay down the cost associated with acquiring a master’s degree.
People who are seeking gainful employment that does not require a master’s degree can consider becoming an information security analyst. This type of position only requires a bachelor’s degree, but boasts a higher median salary than other fields. As an information security analyst, you are set to make approximately $95,510 annually.
The growth rate for this career is around 28 percent according to data collected by the Bureau of Labor and Statistics. As of 2016, there were 100,000 information security analyst positions available throughout the country. By 2026, an additional 28,500 jobs are going to be added to this total, meaning you have time to consider whether you want to make a career change to this field or if you want to adjust your current school major to meet the qualifications for this role.
Related article: Personal Finance Apps