Bouncing back from unemployment

Whether you’re single or married, getting laid off from your job can seem like the end of the world. Lots of questions go through your head: How will you pay your bills? Where will you find another job that paid what your last job paid? How long will it take to find another job?

In today’s economy, it may take a little longer than usual to bounce back, but there are things you (or an unemployed spouse or partner) can do to help accelerate a return to the workforce.

Stay positive
It’s easy to get into a panic after getting notice that you or your spouse or partner has lost a job. Most people experience unemployment at some point in their career. So you are not alone. Staying positive will help you stay clear so that you can start the next phase of your career.

Polish your resume, get letters of recommendation and start networking

  • Your resume is your entry point back into the workforce. Make sure it’s up-to-date, looks professional and reflects all your skills and experience. You never know what skill or experience will get a prospective employer to look closer at your resume.
  • Ask colleagues from previous jobs to provide you with letters of recommendation that you can present at these interviews.
  • Today’s social media websites make it much easier for people to network and find jobs. Many companies post job opportunities and search for qualified people on these sites. So get your profile together and start networking.

Broaden your skill set

  • Consider working part-time or volunteering to gain other skills and experience.
  • Check out government grants and student loans, and look into taking courses to help you start a new career.
  • Look into taking courses to help you start a new career.

Consider starting a business
If you’ve always wanted to start your own business, now may be the time to do so. Before you do:

  • Assess the potential market for your product or service.
  • Speak with an attorney to learn what’s involved in setting up a small business.
  • Check with your local banks and small business authority to see if they can offer you assistance, including reviewing your plan.

Help your spouse/partner deal with unemployment
If your spouse or partner is the one who’s unemployed, there are things you can do to help him or her stay positive:

  • Try to understand his or her feelings so you can better deal with negativity as it arises.
  • Remind him or her of the contributions he or she provides to the rest of your family.
  • Take advantage of him or her being home. Arrange for some inexpensive, mind-clearing, and bond-reinforcing family events.
  • Be respectful of the household budget and don’t add to his or her financial angst.
  • Keep your comments framed positively. Instead of asking, "When are you going to job hunt?", be supportive by offering to locate employment opportunities, revise his or her resume, or practice  interviewing.
Insurance issued by the Prudential Insurance Company of America, Newark, NJ, and its affiliates. Each is a Prudential Financial company that is solely responsible for its own financial condition and contractual obligations. Our policies contain exclusions, limitations, reduction and terms for keeping them in force. A licensed financial professional can provide you with complete details. The availability of other products and services varies by carrier and state. Prudential Financial, its affiliates, and other financial professionals do not render tax or legal advice. Be sure to consult with your personal tax and legal advisors.