With economic uncertainty dominating recent news cycles, the status of the employment market is often unstable. Amid this challenge and uncertainty, there are some sectors that are less likely to see layoffs during a recession. More specifically, There are few abilities that tend to be more in-demand, marketable, and transferrable than others. To prevent the anxiety of job instability in times of economic turbulence, you may want to add recession-proof tech skills to your CV! Let’s check out the tech skills to build a recession proof career.
Recent Recessions and Impact on Jobs
According to the Organization for Economic Co-operation and Development, the world's major economies have been slipping into recession as the global oil and inflation crises precipitated by Russia's assault on Ukraine have reduced growth by a greater amount than anticipated.
In light of the OECD's projection that global growth would drop to 2.2% in 2023 from 2.8% in June, Germany, Italy, and the United Kingdom will enter a protracted period of recession due to their reliance on costly gas for heavy industry and residential heating.
Such conditions in the world economy can fatally impact the global sector. Like the recession for the Russia and Ukraine war, the world also has seen recession for Covid-19 and its impact on jobs. From spring 2019 to spring 2020, the unemployment rate for young employees aged 16 to 24 climbed from 8.4% to 24.4%, while the unemployment rate for those aged 25 and older rose from 2.7% to 11.7%.
To stay productive even in a recession, you need to learn one or two skills that will serve you in such critical times.
Recession-Proof Job Industries and Relevant Tech Skills
Today the most in-demand tech skills include Golang, SQL, . NET. Java, Python, Ruby, PHP, and others in a short amount of time. Extensive understanding of a few different languages can open job opportunityies in the IT industry. Where you are looking for full-time, part-time or freelance coding jobs, there are immense scopes. The most popular programming jobs include, web development, software development, apps development, networking, etc.
Cyber Security Specialist
Business leaders continue to place a high premium on information technology security despite the fact that many organizations are preparing for the effects of a recession. According to the findings of a recruitment expert named Robert Half, the specialists in the cybersecurity industry have been ranked as the workers that businesses are most focused on employing in the year ahead.
When looking to hire someone for a position in cyber security, businesses prioritize a number of qualities, including knowledge of cybersecurity across several platforms, an awareness of hacking, and abilities in computer forensics.
To develop career in Cyber Security you need to have several skills including Problem-Solving, Technical Aptitude, Security knowledge across Various Platforms, Communication Skills, Computer Forensics Skills, Understanding of Hacking, etc.
Cloud computing skills include knowledge of several sectors like database management, network management, programming, cloud security, machine learning, artificial intelligence, DevOps, APIs, etc.
The cloud business is certainly recession-proof due to the high need for cloud-related professions, and putting money into digital skills is more crucial than ever. As the majority of work is performed in a cloud-based environment, massive investments in technology and adoption are on the rise, resulting in an abundance of employment openings.