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- 15 Jobs Most Likely To Disappear in the Next Recession (financebuzz.com)
With recessionary fears looming, many workers are understandably concerned about job security. While no one can predict the future, some industries are historically more vulnerable during economic downturns. Here’s a look at 15 jobs that may face cutbacks if a recession hits.
Tech Workers: The recent wave of layoffs in the tech sector signals a potential vulnerability. While tech jobs were once considered secure, economic downturns often lead to further cuts.
Hospitality and Tourism: Industries reliant on discretionary spending, such as hotels, airlines, and travel agencies, typically struggle during recessions. Consumers tend to cut back on vacations and travel when finances are tight.
Arts and Entertainment: Entertainment venues, like theaters, concerts, and museums, often see reduced attendance during recessions as consumers prioritize essential spending.
Retail Jobs: The retail sector, already impacted by the rise of online shopping, could face further challenges. Reduced consumer spending might lead to store closures and job losses, though online retail positions may increase.
Real Estate: With rising mortgage rates and recessionary concerns, the housing market may cool, impacting real estate agents and related professions.
Jobs Vulnerable to Automation: Businesses may accelerate automation efforts during a recession, replacing human workers with technology in areas like manufacturing, inventory management, and food service.
Service-Industry Jobs: Restaurants and other service-based businesses are often vulnerable to recessionary pressures. Reduced consumer spending on dining out can lead to job losses for waitstaff, cooks, and bartenders.
Hair Stylists and Barbers: While haircuts are a necessity, consumers may opt for less frequent salon visits or at-home cuts to save money during tough times.
Casino Workers: Casino jobs are doubly at risk, facing both reduced consumer spending on gambling and the increasing prevalence of online gaming platforms.
Warehouse Jobs: Warehouse positions can be impacted by both automation and decreased demand due to reduced manufacturing and consumer spending.
Transportation Jobs: The transportation sector, including trucking, airlines, and cruises, is often affected by recessions. Reduced travel and shipping needs can lead to job cuts.
Accountants: Individuals and businesses may cut back on accounting services during recessions, opting for DIY approaches or reducing their overall spending.
Construction: Both commercial and residential construction projects may be delayed or cancelled during a recession, leading to reduced demand for construction workers.
Sports and Leisure Jobs: Spending on sports and leisure activities is often reduced during economic downturns, impacting jobs related to sporting events, equipment sales, and recreational activities.
Motor Vehicle Salespeople: Consumers tend to postpone major purchases like cars, RVs, and boats during recessions, impacting sales jobs in the automotive sector.
While these jobs may be at higher risk, it’s important to remember that economic downturns are cyclical. Many industries are resilient and bounce back, creating new opportunities over time. Focusing on building transferable skills and financial preparedness can help workers navigate economic uncertainty.
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- 15 Jobs Most Likely To Disappear in the Next Recession (financebuzz.com)