A layoff fundamentally changed how I perceive work

Q : What's the difference between a permie and a contractor? A: The contractor KNOWS they have no job security. ;). Your only real job security is your skillset. If that's good, lay-offs are often an opportunity rather than something to be feared. I've been laid off twice, 20 yrs apart. 1st company folded soon after. 2nd got taken over by bigger one. Was glad to be out in both cases, not happy place to remain. In both cases quickly got a better job, pay rise, and engineered a nice long break between jobs. 2cnd time I wasn't super happy there, but risk averse about moving due to young family. Lay-off was helpful push to look for something else. Found another job, then hopped on in 18 months to a great job. Got rid of a nasty commute in the process. Many people tell this story. Far too many of us stay places too long, we think "better the devil you know". Layoffs can be a blessing..... Caveat - if you're working a min wage job without a marketable skillset, layoff is indeed to be feared and a totally different experience.

> if you're working a min wage job without a marketable skillset, layoff is indeed to be feared and a totally different experience.

That's the majority of the population to be honest

Lay off is great if economy is booming(some 2012-2018 and then 2021) but nightmare if economy is screwed(2024-present).

I recall commenting few days back that, the job market is so screwed now that even senior engineers with decades of experience are not trusted these days if they are missing minor experience in some minor tool.

In 2021, I remember everyone with ability to type some code(regardless of quality) land great jobs, remote contracts etc. Everyone I know currently looking to change or were laid off since mid last year are suffering(real bad) and all of these are highly qualified people whom I’d really trust with most critical work.

About 1% of the US workforce works for minimum wage

Is that stat accounting for those working in the dark market (ie without proper documentation)

> without a marketable skillset, layoff is indeed to be feared

Which will probably soon encompass a large amount of Devs. large productivity increases usually mean job losses.

Ironically, if you are a contractor going through a staffing agency, when you are "fired" from a contract, you generally still get paid something by the agency and get "bench time" to train up your skills or work on internal projects. Sometimes contractors have better job security from a paycheck perspective.

Depends on the agency. Many will not pay you (and some may terminate you themselves if you don't have a contract for you, because they are paying your benefits).

There's a lot of minimum wages. Are you talking about the federal minimum wage ($7.50/hr), or the minimum wage local to the worker ($15.00/hr where I live)?

Being a contractor can be a good play, especially if your spouse carries benefits for your family.

Being a contractor is generally considered low status and temporary, so if you can get over that, then you can thrive.

The upside to this is the understanding that it is transactional and hourly. There is no expectation that you get emotionally invested. Which can actually be a much more health arrangement.