Having technical or college training is an advantage when job loss occurs, just as being good at a technical skill makes a worker more valuable. Being able to move to locations rich in appropriate employment is always a plus to anyone's career. Being mobile depends on other factors, such as spouse's career and number and ages of dependents. If you are able to move with your job, companies will often allow good workers to relocate to another plant or location. If job loss has already occurred or is inevitable, then moving to a new location with a new job is an opportunity to begin fresh with a new company, leaving hurt feelings behind.
Job loss can have financially devastating effects.
According to financial advisers, having at least enough fluid savings to cover living expenses for six months is essential. The ability to pay for all living expenses for a minimum of six months will allow you to mount a job search for a suitable position. More importantly, Robinson says, being able to meet financial obligations will prevent you from having to dip into retirement funds, which can create multiple and long-lasting problems apart from the job loss.