As Unemployment Hits the Northeast, South and West, over 10 Million People are Looking for Work

Consolidated Credit Counseling Services offers tips for surviving a layoff after losing a job.

Ft. Lauderdale, FL (PRWEB) November 18, 2008 -- Over 10 million people are unemployed according the Bureau of Labor Statistics. Losing a job is one of life's most stressful events. When trying to survive a layoff, it's easy for people to become overwhelmed and make hasty decisions that can affect them for years to come.

The unemployment rate rose by 0.4 percentage point to 6.5 percent in October. Over the past 12 months, the number of unemployed persons has increased by 2.8 million. "So far jobless rates from August to September are up in 23 states, and with so many Americans trying to survive layoffs we're facing a gloomy reality for start of 2009," says Howard Dvorkin founder of Consolidated Credit Counseling Services, Inc. and author of Credit Hell: How to Dig Out of Debt.

So far jobless rates from August to September are up in 23 states, and with so many Americans trying to survive layoffs we're facing a gloomy reality for start of 2009

The long-term unemployed accounted for 22.3 percent of total unemployment. The newly unemployed--those who were jobless fewer than 5 weeks--increased by 212,000 people.

There are both practical and emotional sides to losing a job. On the practical side, people faced with how they will survive a layoff, pay their bills and find a new job. On the emotional side, they may feel ashamed, betrayed, or angry that they have lost their job.

On the other hand, in the long run, losing a job may open the opportunity for families to pull together, do financial planning they may have been putting off, and perhaps even find better paying or more satisfying work.

Consolidated Credit Counseling's Tips for Surviving a Layoff:

Negotiate a Severance Package. When a person is let go, they probably will be offered some severance, so they should try to negotiate for what they will need to survive while they look for new employment.

Take Advantage of Available Programs. After a person is laid-off, they might be eligible for unemployment insurance and in some states for training, loans, or unemployment while they set up a business.

Find Part-Time Work. Part-time work should allow time and flexibility to pursue a job search. The primary job is to find full time permanent employment.

Slash the Budget. Cut down dry cleaning, cable, and newspapers and magazines that will not aid in finding a job. Make sure the home and cell phones are the cheapest pricing that one can get. Turn off lights in unused rooms and cut back on the shower time. Someone is not going to save tons of cash with even overzealous energy bill squeezing, but for the unemployed, no sum saved is too small. Visit the supermarket and shop with a well-prepared list. Oh, and avoid the cookie aisle.

Cut Interest Rates: If a consumer has credit card debt they should seek out a new credit card with a lower interest rate and transfer outstanding balances immediately. The credit crunch is making it harder to get good offers, so people should look into this option even if they have not been laid-off.

For free information about how to deal with a lay-off see Consolidated Credit's booklet Surviving a Layoff; download it at www.consolidatedcredit.org/pdfs/Surviving-A-Layoff.pdf.

Consolidated Credit Counseling Services Inc. is a federally approved, non-profit agency dedicated to helping people prevent and solve personal money management difficulties through educational programs, personal debt counseling, and by providing free nonpartisan information via the Internet. We have assisted hundreds of thousands of individuals and families with life-altering credit, debt, and financial issues.

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