Layoffs and Furloughs – How to prepare and cope with them

There are 7.9 million unemployed people in the United States. The current unemployment rate of 5.1% has gone down in comparison to where we were last September at 5.9%. The decrease in unemployment is in partial thanks to the fact that for the last three years the U.S. economy has created at least 10,000 jobs per month. While we are in a better place than we were last year, companies are still announcing furloughs and layoffs.

Fortune.com lists the biggest layoffs that have happened, so far, in 2015. Here are the top 10:

top 10 layoffs 2015

 

 

 

 

 

 

 

 

 

 

 

 

If you’re experiencing a layoff or furlough, CheatSheet.com recommends four things to do in the meantime. They are:

  1. Volunteer
  2. Freelance
  3. Get active – and add it to your resume (Whether it’s through volunteering, freelancing, or being involved in other ways, employers don’t like to see big gaps between employment.)
  4. Make job hunting your current profession 

We understand that furloughs and layoffs can result in stressful times of hardship, so we’re here to help. You can access our free, printable e-books and financial tools to help you assess your situation and ways to work through it by clicking the links below.

  • Financial tools (Calculators, worksheets, planning tools, and more!)
  • In our Surviving a Layoff e-book we discuss five steps to coping with and surviving a layoff.
  • In our Surviving a Furlough e-book we discuss seven steps to coping with and surviving a furlough.
    *Both e-book links also contain tools and resources to help you track and maintain your finances. Each resource is free and can be printed as needed.

A layoff and furlough can be stressful, but it may also be a time to reassess where you are and where you’d like to be financially. Apprisen’s financial services specialists can help you understand where you are and help you plan and work towards your future financial well-being.

If you have any questions or would like to speak to one of our financial services specialist you can call us at 800.355.2227, chat with us online, or visit our website.

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