While the media may be focusing on a recession, the experts can’t seem to agree on whether or not we are actually in one. According to the most-used definition, “two consecutive quarters of negative gross domestic product,” the United States entered a recession in the summer of 2022. However, the National Bureau of Economic Research (NBER) disagrees. A recession is “a significant decline in economic activity that is spread across the economy and that lasts more than a few months.” So, in that case, we are not in a recession because specific indicators like unemployment measures are doing well. Fortunately for us, the job market is still strong and has kept us out of an economic downturn.
However, almost everyone agrees that we are most likely heading toward a recession. According to CNBC’s September Fed survey, the experts surveyed said there is a 52% chance that a recession could start in the next 12 months.
What Happens During a Recession?
During a downturn in the economy, people will spend less money, businesses will make fewer sales, and economic growth will stall or becomes nonexistent. As a result, companies will cut costs by laying off staff or delaying hiring for open positions. This results in more people experiencing unemployment and looking for work.
So far this year, there have been layoffs in many of the largest technology and tech-adjacent, retail, and media companies in the United States, including Google, Gap, and Netflix. More layoffs and hiring freezes are expected in the next six to twelve months. Because fewer employers are hiring and more workers are searching for jobs, it is challenging to find work during a recession.
Job Hunting Right Now
However, we are experiencing a very unique job market right now. Because of the pandemic, supply chain disruptions, continual climate crisis events, political unrest, and stock market fluctuations, almost every industry has been in the middle of a major hiring crisis for the last two years. Even if we do slide into a recession this year, experts think there will be pockets of industries that will continue to hire employees just to fill those gaps.
Some of these recession-proof industries are healthcare, food manufacturing and supply, infant care and education, repair services, financial services, and legal services. If you are looking for a job, these are the companies you should target. They need you immediately.
How Can a Recruiter Help?
The best recruiters have been preparing for the possibility of a recession for months. They’ve strengthened their relationships with employers in these recession-proof industries, culled their applicant rosters to those who are the most marketable, and coached their applicants to think differently about their job hunt. So how can you not want to partner with these experts in your job hunt? Need more reasons? Here are nine.
- Deeper Working Relationship – A recruiter’s job is to help you navigate the job search process successfully. In slower hiring times, recruiters will have more time to spend coaching you. As a result, you have the opportunity to work together on a one-to-one basis and build a strong, sustainable relationship that can be fruitful for both of you.
- Expert Advice – Along those lines, recruiters are a valuable source of information, especially when you target industries or companies you are unfamiliar with. They can also help you refine your resume, cover letter, and interview skills. A good recruiter will advise you on making an excellent first impression and navigating a discussion of your qualifications and skills, leaving the hiring manager excited to hire you.
- Become the Go-To Candidate – With a deeper relationship comes the advantage of being top-of-mind for your recruiter. When hiring volume decreases, recruiters will focus on quality candidates they are proud to represent. They will campaign for you every day.
- Unpublished Opportunities – Sometimes, employers don’t post available positions and partner directly with recruiters to find candidates. This can be especially true during an economic downturn when so many people are looking for jobs. Employers would rather have the recruiter sort through the candidates before they start interviewing. When you work with a recruiter, you may have access to more job opportunities than the average job searcher.
- Saves You Time – Two people working to find you a job is better than one. It can save you significant time in finding a job, and you will be saved from having to sort through endless job sites and postings. Instead, you can rely on the recruiter to send you only the jobs that are relevant to you.
- Increased Visibility – As the number of people looking for precious few jobs grows, so does the pile of resumes on every hiring manager’s desk. When you use a recruiter, your visibility to that hiring manager increases because they have a relationship with the hiring manager and can personally recommend you.
- Help You Navigate a Change – If you are making any kind of shift in your job, either to another type of job, a different city, or a different industry, a recruiter can be invaluable in helping you do that successfully. There are recruiters, like Desert Medical Careers, that specialize in certain industries or types of jobs. These experts will offer plenty of advice on how to break into the field. They will also help you package your experience and skills into a compelling pitch that gets you the job.
- Identify New Growth Industries and Opportunities – As discussed, several verticals seem to be recession-proof. If you have not worked in those fields, it might be wise to think about it now. A recruiter will help you identify the opportunities available and make the connections you need to explore the possibilities.
- Be Proactive – Since we have not officially entered a recession and the job market is still red hot, working with a recruiter right now would be a very smart move. Recruiters are working hard to place as many people as they can. They are reaching out to employers and building relationships for now and when the recession is over. Being a part of their pipeline can get you that job sooner.
A Note About the Healthcare Sector
Since Desert Medical Careers focuses on hiring for Arizona healthcare organizations, it is important to note that the healthcare sector is more resilient than others during economic downturns. Research has shown that between 2005 and 2017, healthcare jobs remained stable. In some areas that experienced more severe local economic downturns, employment in healthcare even increased.
We don’t really know how the healthcare sector will respond during this downturn, given the impact of COVID. As discussed in a previous blog, the Bureau of Labor Statistics reported that the overall healthcare workforce has decreased 2.7% from February 2020. That number was mostly in nursing homes. When looking at just hospitals, the workforce is down 1.8% from February 2020. By October 2021, workers leaving health care and social assistance jobs had increased 35% more than before the pandemic. The combined number of job openings is 51.9% higher than before the pandemic. That is unprecedented.
The need for talent in healthcare is so great that many employers have added signing bonuses, more vacation time and other benefits, and flexible schedules to job descriptions. The opportunity to work remotely is more prevalent in healthcare than ever before.
Also, a recession does not change our need for healthcare, so it is unlikely that all open positions will remain unfilled. If more people are looking for work in healthcare, chances are there will be opportunities for them to find jobs.
We see it here at Desert Medical Careers. We are recruiting healthcare professionals for positions in various work environments and at all experience and education levels. There are plenty of openings to choose from. The recession may be coming, but we are poised to continue our work in matching you to your ideal job.
Call us today at (602) 468-6300 or fill out the form below for more information.
[wufoo username=”desmedcar” formhash=”z1eq93o70h1yz3r” autoresize=”true” height=”547″ header=”show” ssl=”true”]