EAU CLAIRE, Wis. (WEAU) -- December and January are historically the worst months of the year for layoffs. The Bureau of Labor Statistics says around 25% of all layoffs happen in December and January alone. So how can workers prepare for the unexpected?
Mark Greene, Director of Safetynet joined Hello Wisconsin to explain.
Nationally, applications for unemployment have started to increase by about 10,000 each week over the past month, signaling that this trend will continue in December and January.
Unemployment rates in Wisconsin grew from 3.1% in June to 3.4% in October.
Since August, a total of around 3,600 jobs were lost across Wisconsin, according to the Department of Workforce Development.
In the past few months Wisconsin's seen mass layoffs from big names like Gander Mountain, Harley Davidson, Appleton, and Gordy's Chippewa Foods.
The best plan for workers heading into this lay-off season is preparing - know the signs of what to look for and how to set up a plan to make sure you're prepared for the
1. Watch for signs of layoffs nearing can include everything from changes in
leadership to budget decreases.
2. Start a budget around the holidays and having a resume ready to go can are
great ways to plan ahead.
3. Use programs like Wisconsin's SafetyNet income insurance can help make sure
you have emergency funds for when you'll need it most.
Stats around financial insecurity:
78% of workers are living paycheck-to-paycheck (CareerBuilder).
Nearly half of Americans (44%) can't cover a $400 emergency expense without
borrowing the money or selling something. (Federal Reserve).