The unemployment rate in the U.S. went down by 0.2% in 2019 from 3.8% in 2018. This is good news, but the fact remains that unemployment is such a terrifying scenario that can happen to anyone, even those who work in well-established companies and organizations.
So what do you do if you wake up one day and found yourself jobless?
Check out these tips and suggestions on how to handle unemployment:
Know Your Benefits
Without a backup plan in place, it’s easy to feel discouraged. But don’t. The first step is to check your benefits. Employees are entitled to benefits like back-pay or separation pay especially during sudden layoffs.
If you have been laid off and was not informed about your benefits, call your human resource department. Ask about severance pay, overtime and sick pay, accrued vacation, pension benefits, and so on. If you have been terminated for reasons that are not your fault, you should be given unemployment compensation.
The separation pay you will receive can help you pay the bills while you are looking for another source of income.
Look after Your Health
Losing a job can stir negative emotions. Many people end up suffering from depression. In difficult times like this, it’s important that you look after your mental health. Avoid isolating yourself. If you sense that your anxiety levels are going up or you’re having unwanted thoughts, seek comfort from a trusted friend or family member. Being unemployed gives you an opportunity to work on your personal relationships and increase your self-esteem. Consider attending a class or training program to enhance your skills. Attend social events where you can network with other people. You might just find a better job opportunity through it.
Take care of your health. Prioritize self-care and make sure you are getting adequate sleep. Eat your greens and make time for exercise and relaxation. By the time you start job-hunting, you need to be in your best self.
Keep Your Expenses Low
During the time that you’re unemployed, you want to be as frugal as you can especially if you don’t have an emergency fund and just relying on your severance pay. As you know – the bills don’t stop even during unemployment. The only way to cope with the expenses is to create a budget and stick to it. If you have unexpected expenses, such as an immediate car repair or hospitalization, it’s good to know that other financing services and personal loans for fair credit are available. Just make sure to do your research to avoid companies that charge extra-high interest rates.
Manage Your Time
Searching for a new job is not easy. You might find yourself doing things over again – writing resumes, searching on Google, calling friends for referrals, attending workshops and improving your skills, etc. The entire thing can be very stressful. The key is to stay organized and manage your time well. Develop a daily action plan and be persistent and consistent even if a lot of times you feel discouraged. Again, don’t forget to practice self-care. Everything might feel super stressful at this point. But don’t lose hope. Everything will be alright.
Reach out to Others
Talk about your job loss. It’s a great emotional release. But apart from that, it’s one way to let people around you know that you are in need of a job. They could make way for job leads and opportunities. You can also reach out to your state’s social services department. They can help you find work opportunities and assist you until you get a stable job.
Being unemployed is certainly terrifying. But it’s not the end of the world. Hopefully, these tips and strategies are all you need to bounce back and start all over again with positivity.
