Whole sector shrinking, should I change fields? (update)

Our sector has been shrinking and I am unsure if I should wait it out. Any experience at all would help. I am open to a pay cut if the field is stable. How did you choose?

Keep everything in writing and save the confirmation numbers. It made the follow-up calls so much easier.

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