• The US Bureau of Labor Statistics said the US unemployment rate spiked to 14.7% in April — that’s the highest level since the Great Depression.
• Still, more than 47 million Americans could lose their jobs in the second quarter as a result of the novel coronavirus pandemic, according to the Federal Reserve Bank of St. Louis.
• If you were recently laid off or furloughed, or suspect you may be soon, here’s what human resources and retirement experts want you to know. 
• For example, you should know where to access your state’s unemployment application and make sure to ask your employer about health insurance benefits. 
• Visit Business Insider’s homepage for more stories.

The US unemployment rate is now at the highest level since the Great Depression. 

Mass layoffs and furloughs have led to more than 20.5 million Americans filing for unemployment in April, causing the unemployment rate spike to 14.7%, per a Friday report from the Labor Department. 

And more than 47 million Americans could lose their jobs in the second quarter because of the novel coronavirus pandemic, according to a recent study from the Federal Reserve Bank of St. Louis.

So what should you do if you fear you might be one of the many laid off? It’s a topic no one wants to talk about. But in uncertain times, it’s a good idea to organize the documents and information you need in case you get let go.

About one in four Americans fear being put on furlough or laid off in the coming months, according to a recent poll of some 31,000 people by Piplsay, a market research and AI company.

Business Insider compiled a list of eight things to know from human resource and retirement experts. These tips are helpful for both people who have been laid off, are are now without a job, as well as people who have been furloughed, or have been forced to take an unpaid leave of absence from work. 

Source: https://www.businessinsider.com/what-you-need-from-your-job-get-laid-off-furloughed-2020-4