How Have Recent Layoffs Impacted The Lives Of American Workers? This New Study Has The Answer

The current economic instability around the world has really taken a toll on the lives of office employees. And many were a part of the massive layoffs that took center stage in recent times, which still add uncertainty for those in full-time roles.

Thanks to Fiverr’s latest study, we’re getting some interesting insights as to how the lives of American workers were affected by the ordeal and how people are managing finances today. This includes what they’re putting forward as priorities in terms of the future of their career.

Fiverr’s recently published study entailed nationwide research that collaborated with Censuswide to produce a survey. This entailed 501 workers present in the US office or those having white-collar jobs that may have been asked to leave abruptly in the past 3 months.

Additionally, we’re seeing people talk about how interesting it has been to change careers after this sudden change as research proves that so many individuals are now opting to freelance while in search of their next leading position. Meanwhile, 34% of those surveyed are keen on keeping side hustles, even after they get hired for full-time in-office positions.

After the massive firing sprees, a lot of workers in the tech industry realized how important it was to freelance in the field of programming and technology. Similarly, sign-ups were generally much greater at the start of this year when compared to the year before.

We saw some major increases through different tech hubs and entails Silicon Valley, LA, Denver, Seattle, and New York as well. We are seeing an entire migration of talent and how the current economic downturn has led to it. So it would not be wrong to call it out as cause and effect.

Skilled personnel are thinking more about huge career priorities and are busy exploring different opportunities for work. Today, freelancing is more appealing than ever. People want to have more control over their lives and their careers so they don’t have to go through what they went through in the past. It’s more flexible and definitely more fulfilling for those working jobs that are either full-time or part-time.

Some key points worth a mention in this study include how those fired are searching for flexible work. And then nearly 75% of those taking part in this study feel unfulfilled in such a role. And then you have 74% agreeing that their position lacked that balance related to work-life.

Nearly 80% hope to explore new industries and put their respective skills into practice for the new position too. Did we mention how severance packages won’t ever be enough to accommodate expenses?

34% of those responding also shed light on the goal of making savings and investments. Nearly 31% hoped to move back in with loved ones while 32% planned to shift to areas that were less costly. But another 34% revealed how they would require financial assistance so would need to request loved ones for help.

After getting fired, so many workers are thinking about making their dream of having no boss and themselves in the leading position a reality.

One out of three people want to find a great side hustle while job hunting to avoid wasting time and so they can earn along the way. And even after finding their job, they hope to keep the side hustle.

32% shared grievances of not having trust in full-time roles again after the manner in which they were fired. And then more than 50% claim they’re loving the flexibility on offer or the stress linked to the classic 9 to 5 position.

57% said they plan to freelance or start their own business while looking for a new job

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