I came across an article (see below for an excerpt) with information you may have heard, as well, about seeing warning signs of a possible recession — though it also included caveats to the related employment data.
If you’re someone who wants to plan for potential problems, however, and you’re thinking from a jobs and career change perspective, you may want to review this article, which shares ideas about “12 Recession-Proof Jobs,” or job groups, including physical and mental healthcare professionals, public servants, educators, and financial advisors: https://www.ramseysolutions.com/care…/recession-proof-jobs
Excerpt from, “Why a weaker jobs market is sparking recession fears,” (Horsley, Scott, GPB.org, Georgia Public Broadcasting, 2 Aug. 2024):
“…The U.S. economy has been remarkably resilient over the last year despite the highest interest rates in more than two decades. But the sharp downshift in hiring last month is sparking fears that’s about to change…
While the unemployment rate is still low by historical standards, the three-month average has now risen more than half a percentage point from its 12-month low — a warning sign of a possible recession…”
The article also shared a caveat, however, that, “…the rise in the unemployment rate was primarily driven by a surge of new workers: 420,000 people joined or rejoined the workforce in July, and not all of them found jobs right away. And the share of working-age people who are either working or looking for work rose to 84% — the highest level since 2001.
The Fed’s next meeting is in mid-September, and policy makers will get another employment report and two additional inflation reports before that, which would provide a fuller picture.”
https://www.gpb.org/…/why-weaker-jobs-market-sparking…
