Friday, January 27, 2023

Recession-Proof Your Career With Tech Skills - United News of Bangladesh - UNB

Last updated Tuesday, January 17, 2023 23:05 ET , Source: NewsService

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...

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