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Unemployment

When the world is in recession, unemployment is a big problem. Even if a country has been out of recession for quite some time, according to economic data, the job market is not the first to recover. When banks stopped lending, home prices fell, and employers cut costs and jobs to save themselves from going bankrupt, a large number of people will be struggling to get by. Massive layoffs by big corporations led to a rising rate of unemployment. People who have lost their jobs find it hard to find new jobs in an economy that is just beginning to recover.

When will the unemployment rate fall?

Once employers are not in the red and they feel that there is enough demand by consumers for them to expand again, then they will start hiring people and the rate of unemployment will fall. But, until then, people need to get by with unemployment checks or find alternative ways of making money to pay their bills.

Unemployment rates by states in the US

According to the Unemployment Rates data published by the Department of Labor, Michigan had the highest rate of unemployment out of all states in the US in March 2009, largely contributed by the troubled auto makers, see March 2009 Unemployment Rates for States.

Surviving Unemployment

It is easy to feel like the world is shutting down on you when you have lost your job and cannot find a new job. If the job market is bad, then there are many people in the same boat as you and the best thing that you can do is stay positive. Things will get better if you stay positive. There are many things that you can do to survive unemployment. Here are some suggestions.

  1. Apply for unemployment benefits
  2. Perfect your resume
  3. Put your resume out everywhere both online and offline
  4. Apply for as many jobs as you qualify for
  5. Apply out of state, in case you have no other choices
  6. Cut your spending and budget for everything,
  7. DIY things that you usually hire someone else to do (e.g cut your lawn)
  8. Try to raise money (yard sale, etc.)
  9. Find a work at home job that you can do in your spare time
  10. Start a home business, and above all,
  11. Practice staying calm and collected (not stressed out)

If you are falling behind on your bills, call 211 or other nonprofit organizations in your area and ask them for assistance. There are organizations that would help with rent, mortgage payments, utility bills, and so on but only if you ask them soon enough.

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