In June 2022, the World Bank warned of a coming global recession. With economic stagnation and growing inflation, you might be worried about how to weather a recession.

"Should I go back to school in a recession?" It's a common question, especially for early and mid-career professionals. Before making a decision, work through the following questions. 

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A recession is a decline in economic activity for at least six months. And recessions have a major impact on employment. During a recession, many employers lay off workers and unemployment numbers tend to grow. Recessions also often mean fewer jobs on the market and more competition for jobs. 

Workers can prepare for a recession by increasing their savings and expanding their skill sets. Going back to school is one way to compete for jobs in a recession.

READ THIS: Nearly half of small business owners fear recession before the end of 2022

Should I go back to school during a recession? Questions to ask yourself

Does it make sense for you to go back to school if there's a recession? Each person's circumstances are different. The following questions will help you make an informed decision.

What direction do I want to take my career in?

Consider your five-year and 10-year career goals. Are you hoping to move into a new industry? Or do you want to move up in your current field? Once you have a clear picture of the direction you want to go, you'll be able to consider the best ways to reach your goals.

For example, a professional certification or online courses might help you strengthen gaps in your current role. However, going back to school might be the best option if you're making a big career change.

Am I already competitive for the jobs I want?

Look at your resume with neutral eyes. How competitive are you for the jobs you want? 

If you're already a stand-out candidate, going back to school might not enhance your options during a recession. 

Then consider any gaps in your resume. Would you benefit from management training? Or would a certificate bolster your credentials in a key area? Now might be the right time to go back to school.

Can I learn the skills I need without enrolling as a full-time student?

Whether you're seeking career advancement or transitioning into a new field, you'll need certain skills. 

But school might not be the only option