Prepare for Layoff Now, Fret Less Later

Last year, 2.6 million jobs disappeared in the U.S. That's the highest since 1945. And things could get worse before they get better.

The Economic Policy Institute, a Washington D.C. think tank, expects unemployment to peak at about 10.2% in 2010, with more than a third of working Americans unemployed or underemployed that year.

In the current economic climate, almost no one is immune from the threat of a layoff, even mobile-phone employees. (Five thousand workers at Ericsson(ERIC Quote) will lose their jobs.) Even if you believe your job is safe, you can prepare for the possibility that you'll lose it, so you can move quickly to find a new position. Here a five ways to stay prepared: ...