Whole sector shrinking, should I change fields?

Our sector has been shrinking and I am unsure if I should wait it out. It has been weighing on me all week. I have transferable skills but no direct experience elsewhere. How did you choose?

Talk to people in the field you are considering. Two coffee chats changed my mind about one option.

Thanks for writing this out. I went through something close to it 10 months ago, and it settled down once I kept a simple log of every call and form.