Projections of uncertainty on employment and growth, immigration and inflation indicate that a significant portion of workers around the world will lose their jobs further due to COVID-19. There is struggle with rising costs, particularly the financial sector. House rent, common expenses and loan repayment are very common. There are no chances of increase wages. In this scenario, job loss will create a great impact around the world.
What to do after job loss? Get a new health care plan. Receive an employee’s disability, retirement or sick leave. Pay for their benefits and/or medical bills that will have little impact on your financial situation but may affect them in the future (preferably years from now). Make sure they get all of the plans available so you can afford these expenses with minimal pain later. Also activate job loss insurance.
How to prevent your job loss? Make sure you have enough income and you did a good saving habit. You need to make a habit of regular savings. Be careful about mortgage and bank loan. Bank loan, car loan, mortgage loan are main area to be victim after job loss. Always keep open another window. That will help you to switch your position to another umbrella. Job loss may creare depression but you need to overcome that.
Faith on religion on crisis management. A recent survey by Gallup found that only 38 percent of Americans consider themselves religious, down slightly in a year when the share had been 57 percentage points higher than five years ago . You can read Bible during crisis. For sure you will overcome crisis. Try for another door and window. World is big and for sure another door will be open.