The unemployment rate in November 2020 averaged 6.7%. Sparred by various economic factors, unemployment can be daunting and creates uncertainties that can be overwhelming. Whether a corporate restructuring, costs savings, merger synergies through workforce reduction, or a reduction in force, unemployment becomes a realization that recurring direct deposits that typically occurs weekly, bi-monthly, semi-monthly, or monthly can no longer be expected.
Unfortunately, the financial obligations remain unchanged in the absence of income from wages. Mortgages, rent, car payments, insurance, health care costs, utilities, food, and so many other necessities of life still demand resources that are currently limited or unavailable. If three (3) to 12 months of living expenses have not been accumulated and saved, knowing how an individual can sustain during a season of unemployment in life is unknown.
While unemployed, learn and apply for all the unemployment benefits for which you may qualify. Use the time to reassess your TAGS (talents, abilities, gifts, and skills). Discover ways to enhance and increase your marketability as a future employee. As an employee, an individual should always seek to find ways that will decrease or lessen the costs incurred by the employer. An employee should be proactive and show initiative when it comes to accepting additional tasks and responsibilities. Being a team player and demonstrating a desire to enhance the job performance and visibility of team leads, supervisors, and managers will definitely enhance the sustainability of an individual’s job.
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Nicole Michelle
Finance and Money Wiz
November 18, 2020
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