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Recession Info Center
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Recession tips: What to do if you have been laid-off or lost your job during the
current recession:
Do not burn your bridges: Understand that lay offs are not personal, and this is
particularly the case in the current recession. It is more about business survival. During
economic downturns, such as the ongoing recession, many businesses, large or small, are
forced to terminate some of the employees to reduce the costs. Keep in mind that you will
need your employer in the future for job reference or letters of recommendation. Thus,
leave in a professional manner and keep in touch with your co-workers and bosses.
Talk to your family: Undoubtedly, job loss creates financial burden, stress, and pressure
for you and your family. That said, it is easier to carry the burden together than alone. Tell
them immediately the way things are. Given the recession coverage, almost everyone
knows about the current conditions. Keep it in a simple and optimistic way, but at the same
time, take actions toward savings and reducing costs. See the following link for further tips
on reducing costs.
Apply for unemployment benefits: Apply for unemployment benefits right away even if
you believe that you will be able to find a job relatively soon. For more information on the
basics of unemployment benefits and how to apply, see “Unemployment benefits”
Know your options: Understanding your options during the current recession, in case you
will not be able to find a job for the next 3 to 6 months, is very important. Know how
much you have in the bank and estimate how long that will sustain you and your family.
Ask yourself what options you have. Depending on your financial situation and financial
responsibilities, a whole slew of options may be available to you, from immediately looking
for full-time positions, to looking for temporary positions, to starting your own business, to
going back to school, to moving to another location, etc.
Job search: Given the ongoing recession, it's important that you have several versions of
your resume. Start applying for jobs using different tools and application processes such as
the Internet, newspapers, and your friends and networks. See, “Job search” for more
information.
Apply for independent health insurance: Determine how long your health care
coverage will last and consider independent health insurance coverages. Remember that
cutting cost during economic downturn is the way to go, but never save on your or your
family's health. Not having insurance may end up costing you significantly more. There are
many affordable insurance coverages for unemployed individuals.
Do not be apologetic about gap in your resume: If you have been laid off for awhile and
cannot find a job, do not worry about the gap in your resume in this environment. Many
good and talented employees have lost their jobs in the past year and the trend is likely to
continue at least through 2009. Employers are very much aware of the current conditions
and most likely will not hold it against you.
Do not neglect yourself: Anxiety and economic hardship can easily take a toll on anyone.
And this is particularly the case in the current recession. Do what you need to do in order
to be healthy and productive and save money in other areas of life.
current recession:
Do not burn your bridges: Understand that lay offs are not personal, and this is
particularly the case in the current recession. It is more about business survival. During
economic downturns, such as the ongoing recession, many businesses, large or small, are
forced to terminate some of the employees to reduce the costs. Keep in mind that you will
need your employer in the future for job reference or letters of recommendation. Thus,
leave in a professional manner and keep in touch with your co-workers and bosses.
Talk to your family: Undoubtedly, job loss creates financial burden, stress, and pressure
for you and your family. That said, it is easier to carry the burden together than alone. Tell
them immediately the way things are. Given the recession coverage, almost everyone
knows about the current conditions. Keep it in a simple and optimistic way, but at the same
time, take actions toward savings and reducing costs. See the following link for further tips
on reducing costs.
Apply for unemployment benefits: Apply for unemployment benefits right away even if
you believe that you will be able to find a job relatively soon. For more information on the
basics of unemployment benefits and how to apply, see “Unemployment benefits”
Know your options: Understanding your options during the current recession, in case you
will not be able to find a job for the next 3 to 6 months, is very important. Know how
much you have in the bank and estimate how long that will sustain you and your family.
Ask yourself what options you have. Depending on your financial situation and financial
responsibilities, a whole slew of options may be available to you, from immediately looking
for full-time positions, to looking for temporary positions, to starting your own business, to
going back to school, to moving to another location, etc.
Job search: Given the ongoing recession, it's important that you have several versions of
your resume. Start applying for jobs using different tools and application processes such as
the Internet, newspapers, and your friends and networks. See, “Job search” for more
information.
Apply for independent health insurance: Determine how long your health care
coverage will last and consider independent health insurance coverages. Remember that
cutting cost during economic downturn is the way to go, but never save on your or your
family's health. Not having insurance may end up costing you significantly more. There are
many affordable insurance coverages for unemployed individuals.
Do not be apologetic about gap in your resume: If you have been laid off for awhile and
cannot find a job, do not worry about the gap in your resume in this environment. Many
good and talented employees have lost their jobs in the past year and the trend is likely to
continue at least through 2009. Employers are very much aware of the current conditions
and most likely will not hold it against you.
Do not neglect yourself: Anxiety and economic hardship can easily take a toll on anyone.
And this is particularly the case in the current recession. Do what you need to do in order
to be healthy and productive and save money in other areas of life.
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