This year has been the worst for layoffs since the start of the pandemic, a new report shows — and those newly unemployed workers are entering a tough job market .

While a job loss can leave workers scrambling to keep up with bills like their mortgage or children's college tuition , there is one thing it's important to do before you reassess your expenses or talk to lenders , experts say: apply for unemployment benefits .

It can take weeks for the benefits to reach you, and minimizing that wait can help you shore up your financial situation.

"After a layoff, workers should apply for unemployment benefits immediately to help cover essential expenses and preserve their savings for true emergencies," said certified financial planner Douglas Boneparth, president of Bone Fide W

See Full Page