When 58-year-old Shaun Chavis was laid off last June, the veteran writer with nearly 20 years of experience didn’t expect to have trouble finding a new job. But months later, after submitting over 100 job applications, she remains unemployed.
“I thought I’d be a valuable asset. I was very proud of what I did in my previous company,” Chavis told Business Insider in an essay published Feb. 24 (1). “But it hasn’t been easy to just hop over to another company and pick up a new opportunity.”
Chavis says she’s only had one job interview and has been ghosted by companies she was having promising conversations with. To stay afloat, she relocated from Atlanta to Baltimore to be closer to family, and has cut out discretionary spending while also dipping into her life savings.
She wonders if the issue with finding employment has to do with ageism or overqualification. Either way, she says the stress of facing rejection after rejection has impacted her mental health.
“There have been so many roles I’ve been rejected from that I felt like I was a really strong fit, and I just can’t keep doing that to myself,” she told the publication.
Chavis says she’s eyeing Mexico, where expenses might be lower, as her next destination, and going into business for herself.
Many felt the same sting Chavis experienced last year. According to job outplacement firm Challenger, Gray & Christmas, U.S. employers announced over 1.2 million job cuts in 2025 — a 58% increase from the previous year and the highest since 2020 (2).
Data from the Bureau of Labor Statistics shows 1 in 4 unemployed Americans have been out of work for over half a year.
And those still employed are feeling the stress, too. Just 43% of workers say they plan to search for a job in 2026, down from 93% last year, according to a survey from job-search platform Monster (3). It’s a reflection of uncertainty in the workplace, with many people clinging to their jobs for dear life.
So, how does one prepare for the potential loss of income?
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While there’s no controlling if you get laid off, there are proactive steps you can take to prepare for joblessness.
Keep in touch: Your network can be one of your biggest safety nets. Build relationships and stay in touch with coworkers, managers, vendors and industry peers. In times of trouble, they may be able to point you toward opportunities.
Broaden your skill set: Upskilling, whether through certifications, short courses or hands-on freelance projects, can raise your value and open doors to adjacent roles. It’s not about reinventing yourself, but remaining flexible so you’re not stuck in one place.
Diversify your income: Having at least one secondary income stream, such as freelance work, tutoring, seasonal work or even monetized hobbies, can reduce financial strain after a job loss. Even a few hundred dollars a month can slow the drain on your savings.
Build an emergency fund: Having three to six months’ worth of expenses in a savings account can be life-saving if you suddenly lose your job. In this market, you may even want a larger cushion to fall back on.
Make a survival plan: Whether you’re employed but feeling uneasy or recently laid off, now is the time to make a plan. List your essential monthly expenses and separate them from discretionary spending like streaming services, dining out and subscriptions. Building a lean version of your budget ahead of time can give you clarity and a feeling of control. It might even help you to reduce discretionary spending now and redirect that money into debt repayment or savings.
If you’re laid off, move quickly. Update your resume, file for unemployment, and cut expenses immediately. If needed, contact your mortgage broker or credit card company to ask about hardship programs. Whether you’re preparing for a layoff or already navigating one, stretching your savings often comes down to being proactive and not waiting until your funds are nearly gone.
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Business Insider (1); Challenger, Gray & Christmas (2); Monster (3)
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
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