This is a scary time. My husband is in the auto industry. Everyone in this industry that has not yet lost their job are just waiting for the floor to drop out. People from years back are coming out of the wood-work calling anyone they know asking if they know if anyone is hiring. The answer is no, at least not in automotive. We have 3+ month of savings not 12.  We used to be pay check to pay check people. That is a bad place to be in!! We started putting just $20 a week in savings when we made the deposit. It was not much but it adds up. Now we put in more each week, and cut back on the wants. Before the floor drops out maybe we can have a cushion.

Good luck to everyone!

My teaching position was cut in 2003 due to budget.  I went through my savings, worked four part time jobs, received help from family and just recently was given a full time position as a receptionist. What did I learn?  Trust in the Lord with all your heart, lean not on your own understadning,  in all your ways acknowledge him, and he shall direct your path.  Learn to live within your means, pay off debt if you can and be THANKFUL!

I was laid off in April of this year.   It is my second layoff in a lifetime of work....well more than 40 years.  The first layoff in 1994 led me down a very lucrative consulting career path and finally a full time job with a major software developer.   I had money to burn.   You think that with that much money I would have paid off my mortgage, gotten out of debt.  Oh no, just kept spending like there was no tomorrow, and decided to retire early and took 4 years off.   Duh, well one day about 8 years ago I decided to go back to work and make some real money to pay off everything, including my mortgage.   What an idiot, I did none of the above, I just kept running up the bills, now two mortgages because I didn't sell the other place before I bought this one.   Long story.

Bottom line, it has been almost 7 months now.   I am too old to be attractive to hire, to many high salaries to make anyone believe I will work for anything pretty much.   So here I am stuck, with huge competition and NO income.   I am fortunate that I am old enough to draw SS and have a small pension from a prior employer....but when unemployment runs out, and if the renter doesn't pay, then I am in big trouble.   Mostly my fault, and then the stock market crashed because of all those greedy people.  I lost 30% of my retirement.   Needless to say, I will have to get really lucky to survive with great credit in tact.  

I have started a jewelry business that keeps food on the table, luckily its just me and the cats.   And,  I have volunteered so that helps me eat, pay for any classes I might take to get better with different skills, and keeps the network going.    My advice to anyone is get out of debt and stay in cash.   Don't be stupid like me, get real.   Don't get greedy wanting more, less is more.   Network, network, network.....and be willing to put all your skills to work, even if it is cleaning houses, or helping the elderly, work at anything.   This may be a difficult time, but it I am learning lessons I should have learned long ago.   Valuable lessons for the future.  There is a future, we just don't know what it is yet.    Help your neighbor, they might later be able to help you.   Believe me I know.  

With the tight employment scene, I am afraid that if I take a (plentiful) security job, I'll be stuck there for a longer time than I want. I have a college degree.

I heard today from a friend from Mexico, that his people are climbing back OVER the border to find work!

With the tight employment scene, I am afraid that if I take a (plentiful) security job, I'll be stuck there for a longer time than I want. I have a college degree.

I heard today from a friend from Mexico, that his people are climbing back OVER the border to find work!

I got laid off from construction last November, but I saw it coming a long way off and had started to work part time at my old skill (medical lab tech), when the axe fell, I rolled into a full time(but no beneifits) position. Since then I have moved into a full time, benfitted position that pays better than I was doing before in construction. Bottom line....plan ahead, have money in the bank, and be prepared to change your spots...I came out great, since I had anothe job lined up, money in th bank and ended up in a new occupation that is better paying and more recession resisitant.....You'll be fine, don't sit around the house and feel sorry for yourself...no one cares but you!....think outside the box! and be positive.....I think this is a good lesson for those who survive it...start thinking today like I did for six months before the layoff...be frugal and prepared.

As I have now & for the first time in 24 years become one of YOU, I sit here reading these blogs with LOTS of free time while I collect around $400 of Unemployment.  That 'weakly' amount & severance, etc. wont cut it for long, say about two months, but in these two months & as a divorcee, Im chillin & rejuvinating myself until I find where the next paycheck comes from.  Who knows?  I may never get this down-time ever again!  You gotta have faith in yourself even in these 'critical financial times'.  Even if they dont pick up, you should feel like they will.

Tom: Get a security job at night. Lots of people with degrees hold security jobs, waiting tables, etc. while they are searching for that perfect job.  Everyone needs to do what it takes which is sometimes not what they want. If you are working at

night that will allow you time to schedule interviews during the day, although that will definitely interfere with sleep time!

Thanks for the advise. I will be getting laid off in January, so I am ahead of the curve, however at 62 my next career ( small career) move will be interesting. anybody have an idea where a 62 year old looks?

Worked for a company in a dying industry for 20 yrs. A co-worker & I seen "writing on the wallsl" 2 yrs earlier, stop buying, paid off credit cards, etc, getting ready for the downsize. Tried to warn others in company that the end was coming, but no one would belive a company opened in 1926 was going south. When it did, everyone else"freaked"! . We went sking......We were not so smart, just realistic.