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Recession-Proof Jobs: Is Yours One of Them?

Recession-Proof Jobs: Is Yours One of Them?

By Albert Sun | BusinessWeek

October 07, 2008

View the job countdown slideshow by scrolling through the pages below

These are tough times for job seekers. The U.S. unemployment rate held steady in June at 5.5%, the highest rate since October 2004. The outlook is especially bleak in residential construction and automobiles, and for workers without a college degree.

But there are employment bright spots, particularly in technology, according to a new report by job listings company Jobfox. Tech-related jobs figure prominently on Jobfox’s list of 20 “recession-proof” occupations. Among the most sought-after positions are software developer, which ranked No. 2; system administrator, who manages increasingly complex corporate networks, at No. 6; and quality-assurance tester, who designs automated processes for testing products, at No. 12. Technology executive, particularly chief technology officer, was ranked No. 16.

Stay Away from Housing

The most in-demand job is sales representative, a sign that employers remain optimistic about their prospects, says CEO Rob McGovern. “The fact that companies are hiring salespeople tells us that they think they can grow out of this recession,” McGovern says. “In the sectors where there isn’t an opportunity for top-line growth, those companies are cutting.” Washington-based Jobfox compiles a monthly list of the professions in greatest demand by recruiters and other employer agents. It mined that data over the eight-month period from November 2007 through July 7, 2008, to compile a list of the 20 jobs with the best median monthly rankings.

Recession-Proof Jobs

Jobfox was launched last year by McGovern, who also founded CareerBuilder, a job site he sold in 2002 to Tribune Co. and Knight-Ridder.

Shane Greenstein, a professor at Northwestern University’s Kellogg School of Management, concurs that technology jobs have been immune to this slowdown. “The closer you get to the housing sector, the more you’re in trouble,” McGovern says. “But the rest of the economy seems to be shrugging it off.”

Schooling Helps

Growing, cash-rich tech companies may fare particularly well, Greenstein says. “An established company in a growth area that has its act together is in a good position now,” Greenstein says, singling out Google (GOOG), Microsoft (MSFT), Apple (AAPL), Oracle (ORCL), IBM (IBM), and Intel (INTC) as examples of tech companies that are unlikely to take a big hit. Indeed, on July 15, chipmaking colossus Intel said its second-quarter profit surged 25% (BusinessWeek.com, 7/15/08) amid resilient demand for PCs and consumer electronics. “We see continued healthy demand for our products” in coming quarters, CEO Paul Otellini said in a statement.

Another way to recession-proof a job is through education and experience, figures show. The unemployment figure for those with college degrees was at 2.3% in June, compared with 2.0% a year earlier, according to the Bureau of Labor Statistics. Among management and professional occupations the unemployment rate was 2.7% in June. It was 9.1% for construction and maintenance occupations.

To be sure, the outlook for tech could dim in the event of an extended economic contraction, says Jim Wilcox, an economist at Berkeley’s Haas School of Business. Much of the tech industry has benefited in part from the dollar’s weakness, which makes U.S. goods less expensive to overseas buyers. “If in fact you have a more serious recession, it is bound to take its toll on business budgets for equipment purchases,” Wilcox says. “And when budgets get cut and people can’t buy new hardware and software, that’s got to hurt Silicon Valley.”

For now, the pain is subdued in Silicon Valley, in particular among software developers, Greenstein says. “[At] the high end of that business, those guys are pretty much recession-proof.”

View the job countdown slideshow by scrolling through the pages below

© 2008 Yellowbrix


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  • Dsc06396_copy2_max50

    lh06f

    5 days ago

    32 comments

    This is a related article with good information: How to Job Search in a Recession
    http://makingmovesincollege.blogspot.com/2008/10/how-to-job-search-...

    --
    Leyda Hernandez
    http://www.makingmovesincollege.blogspot.com

  • Photo_user_blank_big

    ashybaby0206

    about 1 month ago

    2 comments

    Wow, I must say I am a perfect example of this article. I just started a new job this week and I am an accountant. I believe it is #5 on the list. I am in the process of getting my CPA, continuing my education, too. It only too me 6 weeks to find a new job in this crazy economy. There are plenty of accounting jobs out there too! I had 5 job interviews and 1 was the perfect fit. I am passing this article on to my friends! It is a must read in these times. I have plenty of friends in the technology and engineering fields who would love to see there is light at the end of the tunnel.

  • Pi_max50

    PurpleIris

    about 1 month ago

    62 comments

    that is, "article!"

  • Pi_max50

    PurpleIris

    about 1 month ago

    62 comments

    Looks like my dream of being Pam Beesly will be met as Administrative Assistant is in the top 10! :) Otherwise, does not look favorable for artists... well, such is the term "starving artist."

    Wonderful, helpful artice!!

  • Photo_user_blank_big

    plogan721

    about 1 month ago

    8 comments

    I is good to know that I am in the right field, bt wrong place for my field. I am in Marketing, Sales, and Advertisement. Currently, I am at a retail store (the wrong end), but I am also a consultant for a direct selling company. I live close enough to the company to become a full-time employee in the marketing department, and still be an independent consultant for them. at the moment, I feel like no one is hiring for these positions in Columbus, Ohio, and the surrounding areas. I love my part-time position at the store, but I need more

  • Picture_235_max50

    basil7070

    about 1 month ago

    8 comments

    I noticed sales rep came up two times. Do they have any recommendations of what is best to sell in this market other than wall safes from Target?

  • Fon-cumbia_max50

    nae0447

    about 1 month ago

    14 comments

    keeps the the job market in perspective
    especially helps for people coming out of college &
    looking within fields to gain experience

  • Photo_user_blank_big

    teknoll0203

    about 1 month ago

    2 comments

    very helpful


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