Many employees lost their jobs because companies had to let go of employees due to economic crises. Besides, a report states that many economists have predicted the chances of a recession in 2023.

Therefore, the team of ThePleasantPersonality asked experts how people of 16 personality types would deal with such a situation. 

Not just this, but we also quipped about the personality types which might find challenging to handle such scenarios. So, we asked experts to share the ways to deal with such circumstances.

So, here are the excerpts.

If at all this situation arises, which of the 16 personality types are capable of handling such economic crises – recession? 

All 16 personality types are capable of handling economic crises such as recession, but some may have an easier time than others. For example, organized, adaptable, and good at problem-solving individuals may find it easier to handle a recession than those who are more rigid and resistant to change. 

Some personality types that may excel in handling economic crises include ISTJ, ESTJ, INTJ, ENTJ, ISTP, and ESTP, as they tend to be practical, analytical, and skilled at making decisions under pressure.

  • Dr. Ketan Parmar, MD (psychiatrist, psychologist, mental health expert) at ClinicSpots

The MBTI divides people into four categories based on two pairs of traits – introvert/extrovert and sensing/intuition. Those who fall under the INFJ category tend to be very good at dealing with stressful situations like an economic recession, as they are both introverted and intuitive. 

They tend to be able to take a step back from the situation, assess it objectively, and come up with creative solutions. Those who fall into the ISFJ category also have strong problem-solving abilities, though their focus tends to be on practical tasks, making them great at getting things done efficiently.

  • Valentina Bolivar, Mental Health and Physical Wellness Officer, Hot Frameworks

The best personality type for handling a recession is the Analytical type. They are able to take a step back and look at the situation objectively, assess the risks and make informed decisions. They are also good at problem-solving, so they will be able to come up with strategies to help them get through the recession.

All 16 types are capable of handling the recession, but each type will have advantages and disadvantages when it comes to dealing with a recession. How you take in information and make decisions will be most important in this situation.

  • Jason Shiers, Certified Advanced Transformative Coach Transactional Analysis Psychotherapist, specialist working with addictions

Given that each of the 16 personality types has specific strengths and weaknesses, it is difficult to generalize about which of the 16 personality types would be better at managing an economic crisis like a recession. 

Nonetheless, some psychological attributes, such as adaptability, resilience, and the capacity for wise financial decision-making, may be useful in managing an economic crisis. In an economic crisis, for example, people with an ISTJ, ESTJ, or INTJ personality type are likely to be organized, rational, and capable of making decisions based on facts and data.

Which of the 16 personality types may find it difficult to deal with such economic crises – recession?

  • Matthias Dettmann, a psychologist (M.Sc.), Triple-P Trainer and PMR Coach

Some personality types may find it more difficult to deal with economic crises such as a recession. For example, individuals who are highly emotional, reactive, and prone to anxiety or depression may struggle with the uncertainty and stress of a recession. 

Some personality types that may find it challenging to handle a recession include ESFP, ISFP, ENFP, INFP, ENFJ, and INFJ.

  • Dr. Ketan Parmar, MD (psychiatrist, psychologist, mental health expert) at ClinicSpots

Those who fall under the ENFP category may find dealing with an economic recession more challenging than other personality types. This is because these people are very extroverted – meaning that when faced with a difficult situation like a recession, they tend to want to “fix” everything right away and can become overwhelmed by the situation.

  • Valentina Bolivar, Mental Health and Physical Wellness Officer, Hot Frameworks

The worst personality type for handling a recession is the Expressive type. They are very emotional and tend to react rather than think things through. They may make impulsive decisions that could end up costing them a lot of money or worse, lead to them losing their job.

  • Dr. Jay Serle, LMFT, Ph.D., Licensed Marriage & Family Therapist

Some personality types, especially those with thinking as part of their type, may make decisions based more on logic versus feeling. This can be advantageous when handling a recession. It doesn’t mean that someone with feeling as part of their type can’t handle a recession, but just that it might be more difficult for them to do so.

  • Jason Shiers, Certified Advanced Transformative Coach Transactional Analysis Psychotherapist, specialist working with addictions

Similar to how it might be difficult to pinpoint which of the 16 personality types could struggle with a recession, each personality type has its own set of difficulties. Yet, those who have trouble making judgments or are less adaptive could find it harder to handle an economic crisis. 

A person with an INFP, ENFP, or ISFP personality type, for example, is more idealistic, creative, and emotional than someone with an ENFP or ISFP personality type, which may make it harder for them to handle the stress and uncertainty of an economic crisis.

What tips should individuals of 16 personality types follow to handle such situations? 

  • Matthias Dettmann, a psychologist (M.Sc.), Triple-P Trainer and PMR Coach

To handle an economic crisis such as a recession, individuals of all personality types can benefit from taking certain steps, including:

  1. Reducing unnecessary expenses and prioritizing essential needs
  2. Building an emergency fund to provide a financial cushion
  3. Seeking out new job opportunities or considering alternative sources of income
  4. Developing new skills and diversifying their skill set to stay competitive in the job market
  5. Maintaining a positive mindset and focusing on solutions rather than problems
  6. Seeking out support from friends, family, or a professional counselor to manage stress and anxiety.

The specific tips that may be most effective for each individual will depend on their unique personality traits and circumstances. Still, these general strategies can be helpful for anyone navigating an economic crisis like a recession.

  • Dr. Ketan Parmar, MD (psychiatrist, psychologist, mental health expert) at ClinicSpots

No matter your personality type, there are some tips you can follow to help you deal with economic crises more effectively. 

  1. First and foremost, it’s important to stay calm. Don’t let panic or fear take hold – instead, take a step back and assess the situation objectively. Next, try to come up with creative solutions rather than just focusing on what has been done in the past. 

Finally, don’t forget to take care of yourself physically and emotionally during this time – practice healthy habits such as eating well and getting plenty of rest so that you can remain focused and productive.

  1. By understanding how different personality types handle economic crises, you can be better prepared to deal with them in the future. Whether you are an INFJ or an ENFP, there are steps you can take to ensure that you can weather the storm and come out stronger on the other side.
  1. By understanding your unique personality type as outlined by the MBTI, as well as how certain personality types may find it more difficult than others to handle an economic recession, you will be in a better position to come up with creative solutions and stay productive during tough times. 

Take care of yourself physically and emotionally so that you can remain focused and productive no matter what life throws your way!

  • Valentina Bolivar, Mental Health and Physical Wellness Officer, Hot Frameworks

If you are not the Analytical type, there are still things you can do to help you get through a recession. Here are some tips:

  1. Stay calm and rational. Don’t let your emotions get the best of you.
  2. Don’t make impulsive decisions. Wait until you have had a chance to think things through.
  3. Be frugal. Cut back on unnecessary spending and save your money.
  4. Stay informed. Keep track of what is happening in the economy and make sure you are aware of the risks.
  5. Don’t be afraid to ask for help. If you are struggling, don’t be afraid to ask for help from family or friends.
  • Dr. Jay Serle, LMFT, Ph.D., Licensed Marriage & Family Therapist

Each personality type offers different strengths. Know what yours is and lean into them.

  • Jason Shiers, Certified Advanced Transformative Coach Transactional Analysis Psychotherapist, specialist working with addictions

Any personality type could use the following advice to manage an economic crisis:

  1. Establishing and adhering to a budget
  2. Putting important costs first and limiting non-essential spending
  3. Establishing an emergency reserve to pay for unforeseen costs
  4. Obtaining financial guidance from a qualified or reliable source
  5. Concentrating on matters under their control, like generating additional revenue or paying off debt
  6. Exercising, getting enough sleep, and seeking out social support are all examples of self-care.

On a Parting Note

The experts have given their opinion on which personality types can handle crises and which are not! But we must understand that every person is unique and carries certain special qualities that make us who we are. 

Besides, every individual’s personality affects their daily routine, relationships, work habits, and overall lifestyle. Amid this, one crucial thing is to know your strengths and weaknesses so that you can take timely action to become your best ‘self.’