Make sure you have a marketable skillset, even in a down economy. Having been a tech recruiter for both good times and a couple downturns, I noticed that the people who got released first were doing tasks that managers felt could be passed along to others somewhat easily. No real surprise.

Since tech was my field, I first saw project managers who were non-technical (couldn't code or add other value) getting let go. Tech leads were handed PM responsibility. Sysadmins, DBAs, and some QA were also let go when there were devs who could pick up the slack. Companies might not need dedicated resources there, so contractors might be a more efficient solution.

Try to expand your skillset and have the ability to contribute in a few areas. Companies may be more likely to get rid of someone who is only good at one thing.