It’s no secret that unemployment is one of the major concerns of most Americans today. Since the recent economic crisis, almost every American can say that they at least know of someone who is or has been jobless. Unemployment still hangs around nine percent and experts believe that it may take years to return to pre-recession levels.
For many, unemployment is a surprise. For others, they are fortunate enough to see the loss of their job coming, and can prepare in advance for their loss of income.
Having been recently unemployed myself, I’ve compiled a few resources and tips which should help you cope.
Save, Save, Save
This is something that everyone should be doing whether they believe they are at risk of being unemployed or not. A good rule of thumb is to save up six months to a years’ worth of salary at any given time. Naturally, this may not always be possible, but with a job search easily able to last several months, if not longer, you’ll be able to breathe easier knowing that you have the time to look.
File for Unemployment
You should take this step the moment you receive the news that you are losing your job. Claims processing can take weeks to get started; you’ll be glad to get this out of the way quickly. If you’ve managed to save up the funds specified in the previous section, then your unemployment payments will help to supplement your expenses, if you should find yourself unemployed longer than intended.
While there will be tax consequences for this money the next year, it is no doubt a necessary step.
Looking for a Job Should Be a Full Time Job
The old adage states that you should spend about forty hours per week looking for a job. In fact, this is listed on one of the later web pages you see when filing for unemployment.
While online job boards such as Monster.com and Careerbuilder.com are a must, it will be necessary to branch out and contact companies directly. Even if you are told to simply go back to the internet to apply for a position at a given firm, you have still managed to make an impression on the company. Standing out from the pack is essential.
Additionally, making your searches count will help things run more smoothly. Sites like Indeed.com are job boards which compile job listings from many other job boards, allowing you to view multiple positions on one website.
Finally, Relax
Having taken care of the steps listed above, you should be prepared to live for an extended period without the need to worry about bills. With all that extra time on your hands, you’re now able to catch up on reading or home improvements—anything to keep you occupied and productive, after your job search is done for the day, of course.
My personal search lasted three and a half months, far short of the fifteen I was prepared for. However, as with any job, the risk of future unemployment is always a possibility.
The key is to remain as stress-free as possible. This state of mind will help you prepare for interviews and eventually land your new job.
Happy Hunting!
Sources:
- Minnesota Unemployment Web Page
- Lockhart, Dennis "Road to recovery less than smooth" Atlanta Business News. June 25, 2011.
Matthew Jackelen - I currently live in Minneapolis and have been writing in the Finance industry for the last four years.
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