This Guide will learn you how to make money when laid off. Don’t wait to be laid off by companies at 50 years old and then repeat the same scenario of seeking job, employing and finally laying you off. Break this cycle and go straight to make money today.
Ask yourself these questions and be honest with yourself.
How many times will this cycle be repeated during my life? Did your life duration handle repeating the same scenario ?Did you think that your life will get any better by adopting the same mentality? Read what Albert Einstein said:
“We cannot solve our problems with the same thinking we used when we created them.”
Let’s start and save your time…
What Is Unemployment?
Unemployment is when people are not engaged in any employment activities. In other words, it is the state of being unemployed.
Sometimes, unemployment refers to a situation where a person needs and wants a job but doesn’t have one (Job seeker), either because there are no jobs available or because they can’t find work.
Sometimes unemployment used to refer to people who previously had one job and then lost that job for some reason (laid off). Technically speaking, this means that they’re unemployed.
What are the Different Types of Unemployment?
Unemployment is a major issue in the world today. There are many different types of unemployment.
There are four types of unemployment: frictional, structural, cyclical, and seasonal.
Frictional unemployment is when people are between jobs or looking for a job that matches their skillset.
Structural unemployment is when there are no jobs available in the region or industry that someone lives in.
Cyclical unemployment occurs when there’s an economic downturn and people who were previously employed lose their jobs.
Seasonal unemployment happens when certain industries only have work for a few months out of the year and then there’s no work for the rest of it.
What is a Layoffs?
Layoffs are the process of reducing the number of employees in a company, and this is because the company is downsizing or has been experiencing financial difficulties.
Laid-off workers may be out of work for a few weeks, months, or even years.
The laying off workers belong to cyclical unemployment categories and they become job seekers again! while the job seeker mainly belong to the frictional unemployment.
When the workers are laid off, then they start to be job seekers and both are unemployed. Every laid off workers is job seekers and not every job seeker was laid off.
Famous Examples of Mass Laid Off
These instances are just past laid off even that hold some truth about the lays off workers’ policy of companies.
1- Global financial crisis for instance in 2008-2009, 20 million Chinese migrant workers lost their jobs….
2- Spread diseases inside specific country leading to cut back cost/budget of companies, in 2003, SARS outbreak causes more than 8 million people lost their jobs in china , according to official Chinese data.
3- Resulting of pandemic outbreak outside of affected country. for example, garment factories in Cambodia will laid off workers in March 2020 due to a shortage of raw materials from China which is affected by Coronavirus.
How To Avoid/Overcome The Unemployment?
We are living in a time where we have more and more jobs being gone by lockdown and war. There is no doubt that this will continue to happen in different area of the World.
It is not the end of the world for those who are unemployed, as there are many ways to make a living today. The question is: what should we do about it?
1- Build Online Skills
In this section we will be discussing the importance of building online skills in order to prepare for unemployment.
The first step in preparing for unemployment is to start building your online skills. This can be done by taking courses and learning how to code, or by creating a blog or a website showcasing your work. It is important to note that these are not the only ways to build online skills, but they are some of the more common ways.
Once you have built up your online skills, it is time to start thinking about how you will spend your time when you do become unemployed. Many people don’t realize that they have to plan for it.
You can be sure that you’ve everything that you need to run the business and generate income. In addition, you should make sure that you have enough money saved up so that you can survive without having to go back into the workforce right away.
2- Join Remote Entrepreneurial Community
It’s one thing to work a full-time / Part Time job, or even do contract work on the side. It’s another thing to Try to find the time and money to start your own business while maintaining those other responsibilities.
It’s not easy, but with a remote entrepreneurial community, you’ll be able to take advantage of a supportive community that can help you find time, money, and skills necessary to pursue your entrepreneurial dreams without giving up any of your other responsibilities.
You’ll get advice and support from people who are already in the same predicament as you are. All you have to do is involve in the right online entrepreneurial community.
3- Don’t Ask “How to Find a Job After Being Laid Off?” Again!
Are you still asking for job after being laid off? if you still looking then this section was written for you. I CANNOT prevent you to ask without explanation.
The question on how to find a job is an unsolvable problem because there are as many jobs in the economy as there are unemployed. Here I’m going to add the insights on unemployment in America.
You can see that it is hard to find job and the proof is on the above chart. Still some % of unemployed for some reasons.
The Lockdown during 2020 due to Covid 19 cause the highest rate of unemployment, however during 2021, the unemployment rate start to decrease gradually. Until May 2020, the unemployment rate reach 3.6.
Searching for job is sign that you still running in the same cycle over and over again for the next 5 or 10 years. You’ll be
Let’s know the reasons into the next section,
Why It So Hard Get Job After Being Laid Off (Unemployed)?
A lot of factors are involved in the time it takes to find a job (Offline) after being laid off.
The first thing to consider is How Long Does It Take to Find a Job After a Layoff?. If you have been unemployed for a long time, it will be more challenging to find a job as employers usually prefer candidates with recent experience.
The second factor is your industry and geography. If you are in an industry that has been hit hard by the recession, or if you live in an area where there are not many opportunities, then it will be more difficult to find a new job.
The third factor is your skillset and qualifications. Employers want employees who have skills that match their needs, so if your skills do not match the needs of the employer then they may not be willing to hire you even
More specific factors to never get a job,
It’s even harder to find a job because the job market becomes more and more competitive and due to worker’s age too. It can be difficult for someone who is 50 or older to find a job because employers are reluctant to hire them.
If you are a 50-year-old and you were laid off, it is not the end of the world. You can still find a job that is suitable for you. but there are still some ways to find a job after being laid off at 50’s. There are many ways and means to get back on your feet, and the best way is being self-employed.
However, the question “How to Find a Job After Being Laid Off?” becomes more solvable if you take the help from the remote entrepreneurial community and invest some time learning about how to create your own side hustle before or even after you’re unemployed.
Now, you know the answer and never ask this question again as it’ll drain your energy.
4- How To Make Money When You’re Laid Off – Take an Advantage Over Offline Retails.
A lot of retail stores are going out of business, and this trend is not spontaneous. Affiliates, experts and other online sources are quickly replacing the traditional offline methods of generating business. Most people do their shopping online which is a lot safer and quicker than offline. This is your chance to make a difference.
In this age of digital commerce and lockdown, there is no surprise that more and more retail stores are closing their doors. The Internet has become one of the most frequented places to buy and sell products. The majority of people now prefer to put all their spending online, instead of stores.
With new businesses popping up every day, it’s reassuring to know you’re never more than a few clicks away from a profitable venture. Online marketing – specifically affiliate marketing & online authority – lets you make significant monthly income without any barriers to entry.
5- Start the Journey of Self-Employed the Right Way
Self-employers are the employees of their own business.
Self-employment is becoming popular in the world today. It has a lot of advantages, such as being able to work at the hours you want and being able to work from anywhere in the world.
If you want to start your own business, there are many ways and means that can help you get started with little or no investment at all! You are your own boss, and you can decide if you make a full time or part-time income.
It is time to leave the Traditional Economy behind and join the Digital Economy. It is really possible to replace their former incomes through this online World under one condition. This condition is setting the right mindset to do so.
How Many Americans Are Self Employed in 2022?
Many Americans work for themselves, with estimated average of 9,15 million self employed men and women in 2021.
The latest data from the Bureau of Labor Statistics in the US finds that there are 9.97 million self-employed people in America as of February 2022.
The figures released for this May 2022 show a 1.81 % rise in self-employed workers from the previous month (April), and a 5.8 % annual increase, up from the previous month’s rate.
Aspiring entrepreneurs are transitioning from being employees at others’ workplaces to being their own bosses in order to create and benefit more from their businesses because they want control over work and finances.
Pros & Cons of Being Self-employed
Even though more and more people are becoming self-employed, there is still a stigma attached to it. People think that it’s only for the privileged few and that it’s not a viable option.
Being self-employed has many advantages, for instance:
being the boss of your own company,
having the freedom to create your own work schedule,
- Scaling your business to earn big (This can overcome the related con.),
The lack of benefits or an employer’s pension plan or matching contributions to retirement programs.
Given the latest panic, being laid-off is now a norm. As a matter of fact, many people are qualified to create their own business after being laid off.
It is never too late to start an online business by taking your work experience for granted and redefine what success means in your life.
Let’s stop thinking and start doing!
How To Make Money After Being Laid Off – An example
Laid off while pregnant, Read this story to know more.
My #1 Method About How To Make Money When Unemployed
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It is important that you do not give up on yourself. You should make use of your skills and talents in the digital world, participate in online communities, learn how to make money online, generate passive income streams etc.
Once you manage to find the right niche for yourself, You will know How To Make Money being unemployment and the sky becomes the limit.
If you got any question or any comment to share, pleases, write it into comment area below, escpcially if you were laid off and seeking job or unemployed at all.