The arrival of COVID-19 or the coronavirus in the United States has been met by panic, with social distancing necessary, and remote working on the rise. However, for a lot of people in the US, this isn’t going to be possible. There are around 80 million jobs at risk during the pandemic, with a variety of industries struggling to adapt to the sudden change in business.

Businesses on the Brink of Collapse

The forecast for many companies across the country is bleak right now. Fewer customers are shopping and visiting businesses. In particular, several industries will struggle with coronavirus. This includes hospitality, travel, transportation and leisure.

Small businesses are at risk of going out of business. The conditions of COVID-19 have changed dramatically, especially for those running independent cafés, hair salons and even window cleaning services. With bills and expenses to pay, without having the usual influx of customers, some businesses will close their doors forever.

While Washington debates the creation of emergency relief packages, it’s important to investigate ways that you can survive financially without a stable job.

The conditions of COVID-19 have changed dramatically, especially for those running independent cafés, hair salons and even window cleaning services.

How to Prepare for Unemployment

Finding another job is going to be difficult during this time when most companies will be looking to scale down their workforce. Of course, this may be why you lose your job during COVID-19. However, there may be food stores and delivery companies looking to hire temporary workers to meet demand. This can be an option if you’re qualified and if you want to be on the frontline during the virus. Talk to your employer first to see what the situation is before jumping to conclusions. Then, weigh up your options and whether you can get a temporary job.

If you’re really struggling with bills and other expenses of running a household with children, you may want to consider Upgrade Loans. This is going to give you a cash injection during this difficult time that can keep you afloat until it all blows over. This can also avoid dipping into your savings and worrying that you’re going to run out of money to pay for essentials. If you’re a parent and your kids aren’t at school. It won’t be possible for you to get a temporary job. A loan can be a good way of combating this.

The federal government has permitted states to make adjustments to unemployment benefits in order to help citizens with the financial effects of coronavirus. Therefore, if your employer has told you that you won’t be able to work or they’re thinking about stopping operations due to the virus, you will be able to file for unemployment benefits. A lot of people won’t do this due to pride and not knowing how the system works. However, there’s no way to anticipate how long restrictions will last across the country. Payments can be for up to 25 days and this could be extended during the pandemic. It’s possible to apply online for unemployment benefits.

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Key Takeaways:

  • Around 80 million jobs are at risk from coronavirus outbreak.
  • Hospitality, travel, transportation and leisure jobs are particularly at risk.
  • Emergency relief packages are in discussion in Washington.
  • Look for temporary jobs.
  • Consider a loan to cover your outgoings and normal expenses.
  • Apply for unemployment benefits during the pandemic.