Millennial job seekers might be all too familiar with the recession. As a nation, Singapore has experienced a number of recessions throughout our lifetime. Today is no different. Most job seekers and fresh graduates are stuck in hard times.
We see fewer companies and organizations hiring. More layoffs and tough competition for the jobs that are available right now. But are you aware that there are significantly less competition and more job stability in recession-proof industries? In this article, Singapore manpower outsourcing agency BGC Group will list the hottest recession-proof jobs and industries of 2020. We hope that this article might inspire you to upskill and pursue careers in a more stable industry.
1. Teaching and Education
In Singapore, education is one of the most highly prized possessions. Teaching helps to ensure that the essential learning journey continues. Which is why many teachers are still working and considered to be essential employees. If you’re looking for a stable career and a way to continue paying the bills in case of another pandemic, teaching might be a career to consider.
Additionally, freelance tutors is also a career for fresh graduates looking to get a headstart into the teaching industry. Learn more about what it takes to be a teacher in Singapore on MOE’s website here.
2. Healthcare
A job in the medical field is a great place to work during turbulent times. Our bodies still fall sick whether there’s an economic recession or not. This makes the healthcare industry a recession-proof field to pursue. Popular medical professions include doctors, nurses, physician assistants, and pharmacists to name a few. Here at BGC Group, we understand that the healthcare industry is one of the most essential resources in Singapore. We have a number of specialist healthcare recruiters on hand to fill in your healthcare talent gap in Singapore. Learn more about our Healthcare Recruitment Outsourcing here.
3. Tech and IT Professionals
Think about it, working remotely from the comfort of your own home would not be possible without the help of your tech and IT friends. From IT support to cybersecurity, this is an industry littered with jobs that are expected to go on whether the economy is stable or not. Based on an article by the Straits Times, some of the hottest IT and Tech skills currently in demand include data analysis, machine learning, and software development. Popular IT jobs include computer systems analysts, network administrators, data analysts, and programmers to name a few. Other recession-proof careers in the budding industry include UX Designer and Software Tester.
For those looking to get started in the IT and Tech industry, check out some of our other highly read Tech and IT themed articles below:
4. Cybersecurity Professionals
Thanks to the circuit breaker, we’ve gotten a glimpse at just how important cybersecurity is during the pandemic. Tech and IT professionals are so prized that cybersecurity specialists have been dubbed as essential workers by the Cybersecurity and Infrastructure Security Agency (CISA). Companies whose employees have been forced to work from home will need to secure both their networks and employees to ensure that remote work can go on smoothly without falling to potential cybersecurity threats. In fact, we’ve seen just how important cybersecurity is, especially with the rise in COVID-19 related scams during the work from home season.
Looking to jump into the cybersecurity field? Lucky for you, we’ve compiled a list of the best cybersecurity courses for those looking to get a headstart in the field.
5. Delivery Services
It’s no secret that delivery and courier services were some of the hottest jobs for Singaporeans during the COVID-19 pandemic. Despite the tough competition, a job in the delivery or courier services is one that is available to just about anyone with a good means of transportation. We’ve seen just how popular this job is during the COVID-19 pandemic. With everyone locked in, there was a spike in online shopping as well as food and even alcohol delivery.
However, this is a role that's filled with strong competition. A career in the delivery and courier services might sound like a good calling. However, with the amount of competition available in this industry, we strongly recommend upskilling yourself for a variety of different recession-proof opportunities.
Below are some of the best articles we have on upskilling for Singaporeans:
6. Public Sector Jobs
There’s a reason why full-time jobs in Singapore’s public sector are called “iron rice bowls”. This is an industry that’s stable and resistant against most forms of economic recession. Fortunately, there are a number of different positions available in the public sector. A quick glimpse through Jobscentral Singapore revealed a number of jobs in Singapore’s public sector such as:
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Army Officers
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Market Researchers
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HR Executives
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IT Consultant
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Accounts Executive
Additionally, careers in public safety and public transportation are also great options for individuals looking for a recession-proof career. Emergencies happen even during economic recessions. The same goes for public transportation workers — especially in a heavily populated city like Singapore. This means that jobs such as security officers, firefighters, policemen, and bus drivers are more likely to be safe from the economic downturn.
Read: 3 Questions to Help You Determine if You Should You Work for Singapore's Private or Public Sector?
7. Bank and Finance Jobs
There are some bank and finance jobs that can be recession-proof. However, experts believe that niche positions in the field have a better ability to withstand the economic downturn compared to other more general positions in finance. Some of the safer bank and finance jobs can include accounting, credit, and debt management counselors, as well as roles in Fintech (Finance Technology).
Which of these recession-proof industries and jobs are you interested in pursuing this 2020? Share them with us in the comments section below!
Read More: Want to Save the World? Here are the Top Singaporean Jobs in Demand Right Now