Hello to all those first timers who are or will be laid-off. Think positive, update your resume, and keep interviewing. You will land a job somewhere since the job market remains strong and 4.3 Million workers are missing from the workforce. For some, getting another job will be easy, and for others it might take a little longer. But don't become lazy and depressed. Keep applying and be flexible. One of my old colleagues who's 72 found a job in telecom and working remotely. So keep your head up, be positive, keep talking to people, don't feel bad if your ex-colleague found a job before you, don't waste time, do the trainings or courses. Build your skills while you have the time. It can be tough, but remember, lots of folks have gotten layoff throughout history. I know the first time you get layoff, it's tough. I went through the same thing after 20+ years working for the same company. I also had the roller coaster of emotions. But I found a job and it's much better then the last one. Remain positive and don't give up.
14 replies (most recent on top)
Metaverse
@6kgv+1lpACrYO not to mention that, seeing as the way things are going, that $1M mortgage may soon be under water and that $100k Tesla is being cost-cut and depreciated to 1/4 of what you paid.
@6cfj+1lpACrYO , sure. But ... if you're looking at a $1M+ mortgage and car loans (because you just had to have that $100k Tesla) it might be a little late to start tightening your belt by cutting your daily Starbucks habit or eating out less.
But if you did all that you wouldn't HAVE to work ... so ... kind of a moot point, no?
Just because you haven't been preparing for the last 1-2 years doesn't mean you can't start now. Have a little discipline in the short term so you're best prepared for unemployment because this has nothing to do with "take this job and shove it".
The federal reserve is committed to curbing inflation, and they will make sure millions of people lose their jobs in order to do so. Whether you like it or not, your employment status relies entirely on the whims of economic planners (not your boss).
@2mxy+1lpACrYO pay off your debt, live frugally, build up your savings, and work on a business plan that can prosper in a weak economy. because you are probably going to lose your job within the next 2 years and nobody will be hiring.
But if you did all that you wouldn't HAVE to work ... so ... kind of a moot point, no? When you have no debts and sufficient savings you can afford to say "Take this job and shove it". So, yeah ...
@2mxy+1lpACrYO pay off your debt, live frugally, build up your savings, and work on a business plan that can prosper in a weak economy. because you are probably going to lose your job within the next 2 years and nobody will be hiring.
Heed the words of the responses from @ivy+1lpACrYO and @yqx+1lpACrYO.
And do what? Stock up on gold, g-ns and bullets?
One thing's for sure: the cost of housing in the Bay Area is gonna go down ... dramatically. Glad I sold and moved into a cardboard box while the going was good.
You're all correct. This economy could end like 2001, 2008, or 1929. It went up for a long time, so it may well go down.
But the OP's point still stands. At this moment, hiring is strong. Several of my colleagues laid off in the past few months have found jobs.
Being laid off is traumatic, so many will take time off to recover. Don't. You may not have that time. Six months or a year from now, employers may not be hiring -- but right now, they are.
Right now is your best chance to find another job. As the OP says, "Don't waste time. Don't become lazy and depressed. Build your skills. Keep applying, and be flexible."
Heed the words of the responses from @ivy+1lpACrYO and @yqx+1lpACrYO.
the job market is not "strong". the establishment survey might give that impression, but the household survey (the more accurate one) paints a much different picture.
there's clearly a tug of war between the federal reserve and the white house, in which the federal reserve needs to raise interest rates and crush demand to get inflation under control but the white house is putting out these phony job numbers giving people the impression the economy is healthy.
if it were true the economy was as strong as the white house claims, it should be able to absorb a meager 7% interest rate with ease but it can barely stomach 4%. the other reply is correct. forget the dot com crash or the GFC, this is going to look more like 1929.
Get ready for 2001+2008 on steroids.
https://nypost.com/2023/02/27/meta-middle-manager-making-550k-a-year-fears-layoffs/amp/
Amen