Payscale is out with a report identifying what it called the most “recession-proof” jobs this year, all of which saw double-digit increases in pay.
The compensation software company’s 2022 End-of-Year Hot Jobs report ranked waiter or waitress positions as likely to be “least impacted by a recession.” The survey found the median annual pay for servers is $19,900, representing 30% salary growth year-over-year.
A combination of factors including labor shortages and competition makes servers and other top-ranked jobs on Payscale’s list “recession proof,” according to the report.
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Waiter/waitress was followed by private banker, which had a median salary of $93,000 and 25% pay growth this year. Media director was third, offering a $108,000 median salary and wage growth of 23%. Media directors handle marketing materials, press releases, and advertising campaigns.
Payscale put police, fire or ambulance dispatcher – at $44,500 median annual pay with 19% growth – in the No. 4 spot.
In fifth among the top “recession-proof” roles was sales consultant, a job that Payscale said came with a $56,800 median salary and 18% growth.
Rounding out the report’s top 10 were:
- Microbiologist ($59,900);
- Marketing and business development director ($119,000);
- Dockworker ($41,100);
- Electrocardiogram technician ($40,400); and
- Installation technician ($46,800).
Their salary growth was 15% year-over-year aside from marketing and development director, which was 16%.
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Other jobs deemed “recession-proof” by Payscale that saw 15% salary growth year-over-year included:
- Assembly line machine operator ($37,200);
- Bookkeeping, accounting or auditing clerk ($47,300);
- Tanker truck driver ($58,100); and
- Journalist ($46,500).
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With 14% pay growth, these jobs also made the list:
- Graphic design manager ($69,700);
- Pastry chef ($43,400);
- Diversity manager ($97,100);
- Education coordinator ($51,800);
- Drector of environmental sciences ($73,800); and
- Automobile damage estimator ($60,300)
The compensation software company created its “recession-proof” jobs list through analysis of over 1.1 million salary profiles completed by workers between October 2021 to October of this year.
Job market remains tight
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The report came amid a still-tight labor market and concerns about a potential economic downturn in 202
On Thursday, the Labor Department reported initial unemployment insurance claims for the week ended Dec. 17 came in at 216,000, up 2,000 from the prior week, and continuing claims for the week ended Dec. 10 were 1.672 million. Economists polled by Reuters had forecast 222,000 initial claims.
Some 263,000 jobs were added by employers in the U.S. in November, according to the department’s monthly payroll report released earlier in the month.
Meanwhile, worries that the Federal Reserve’s interest rate hikes, prompted by stubbornly high inflation, could possibly result in the economy entering a recession have persisted recently. In a Bloomberg survey of 38 economists, the likelihood of one occurring in the coming year went up 5% from the prior month to 70%.
Megan Henney contributed to this report.