by Jamie Gold
12/13/2008  United States unemployment rate is currently at 6.7%, the highest unemployment rate in a very long time. Moreover, 533,000 jobs were lost just in November. Experts are predicting that we will experience higher job loss rates with unemployment jumping above 10% in the near future. Some states’ unemployment rates are already close to that number with California’s unemployment at 8.2%, Michigan’s unemployment at 9.3% and Rhode Island’s unemployment at 9.3%.
With economy in crisis, layoffs are getting to most of the industries. Were you laid off and in shock? Do you not know what your next steps should be? Are you lost and confused? Below is an outline of actions that you need to take if you were laid off.
Layoff action # 1 -- Get a layoff letter
The first thing you need to do is to make sure that you are given a letter by the employer that you were laid of rather than fired. Layoff is a dismissal of the employee due to lack of work or reorganization. People get fired for performance related issues. There is a huge difference. During the job search, you’ll have to make sure that you stress the fact that you were laid off.
Layoff action # 2 -- Get references from co-workers
After you were laid off, make sure that you ask your co-workers for references. You will need references when you are ready to look for another job. This will further prove that you are out of the job due to an unfortunate economic environment that ended in a layoff for you, not performance related issues.
Layoff action # 3 -- Make sure you are paid for all work days and unused vacation daysDuring your layoff meeting, go through the finance portion with Human Resources department. Make sure that you were paid up to the day of the lay off and for any unused vacation days. If you had a lot of days left, it could really sum up to a nice number.
Layoff action # 4 -- Check out COBRA
During your layoff meeting, HR person should go through COBRA options with you. COBRA, or Consolidated Omnibus Budget Reconciliation Act, gives workers who lose their health benefits the right to choose to continue group health benefits provided by their group health plan for limited periods of time in cases of job loss. Under COBRA, you will be paying more for insurance then previously since your employer will no longer be paying their portion, so you need to find out what your payment will be and decide of you are able to pay.
Layoff action # 5 -- Check out state sponsored medical insurance options for low income people
Find out about the state sponsored medical insurance options for people with low income and for people whose income changed due to a job loss. You may qualify. In New York, there is a state sponsored program Health Plus and a self-sponsored program Healthy NY which is less expensive then buying a health insurance on your own. Other states have their own programs. You can search the web to find them.
Layoff action # 6 -- File for unemployment
File for unemployment after you’ve been laid off. Nowadays, you no longer need to stay in long lines in the unemployment office. You can file for unemployment online. Each state has its own unemployment site as well as unemployment amounts. For example, to file for unemployment in the state of New York, you need to go to the following site http://www.labor.state.ny.us/ui/claimantinfo/beforeyouapplyfaq.shtm. You need to make sure that you understand how much of unemployment you will be getting and when. In the state of New York, it’s a maximum of $405 per week. Additionally, you will need to pay Federal and State taxes. Due to the process, you will receive your first payment three weeks after you’ve been laid off.
Layoff action # 7 -- Manage your finances.
Traditionally, it takes about 6 months for a person to find a job. It takes longer to find a job during massive layoffs. You need to make sure that you stay afloat during the unemployment time. In order to do that, you need a plan. Create a spreadsheet with your monthly spending and decide what you’ll be able to afford and what you need to cut out. Or better, use a Moneyallocator program on our site that will make things easier for you. It is recommended that you keep savings of six to nine months salaries at any given time. It is great if you have those savings and can use them during this hard time.
Layoff action # 8 -- Network
70% of all jobs are found through networking. That means that you need to network after you’ve got laid off! Make everyone you know aware that you’ve been laid off and are looking for a job. If you already belong to any networking websites or organizations, you need to let your connections know that you are searching for a job. If you do not, then register at websites such as www.linkedin.com or www.facebook.com in order to get in touch with your former co-workers and friends whose phone numbers and e-mails you no longer have. Go to the networking events such as the ones posted at www.meetup.com.
Layoff action # 9 -- Search for a job
If you got laid off, search job boards for job ads. Check this article for major job search engine list. http://www.moneyallocator.com/articles/find_job.asp. Some of the listed resources will also help you write a resume and a cover letter if you don’t already have them. Traditionally, December is a difficult month of job searches since it’s the end of the financial year for many companies and they are leaving all the hiring decisions for the next year. But you should not give up on your job search and should go through the job ads daily. Searching for a job is a job of its own, so do not give up.
I hope that the above outline will help you in the difficult times and will give an order to a chaotic layoff situation. With the advice above, you’ll be able to deal of the layoff in the most efficient way and will find a better job than the one you had before!
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| Comments: 1 |
dwentland wrote:
Hi Everyone
I read Layoff blogs and it breaks my heart. I pray you all find what you are looking for.
Take some time read some history on the United States. The U.S. was built by people who believed in self reliance, not on their employer to determine their worth..
I understand the layoff cycle..laid off 2 times in 3 years from Corp America.
There are allot of ways to make money,,Good honest money. Find the one that fits you, due your due diligence and go for it.
Brake the cycle,,take a stand for your self and those you love.
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