The unemployment line is getting longer.

In the face of the economic crisis, more employers are cutting jobs as a way to reduce costs. The Washington Post reports that the deterioration of the job market is now emerging as a driver of economic distress.

In September, there were more mass layoffs – employers cutting 50 or more jobs at once — than in any month since September 2001, the Labor Department said Wednesday. And nearly 500,000 Americans have filed new claims for unemployment benefits in each of the past four weeks, the highest rate of such claims since just after the September 11, 2001, terror attacks.

Reuters reports that the number of U.S. workers filing new claims for jobless benefits rose by a larger-than-expected 15,000 last week.

Anecdotal reports noted by the Post suggest that the massive losses in the job market have only just begun. Companies that announced plans this week to cut jobs include Internet company Yahoo (1,500 positions), pharmaceutical company Merck (7,200), National City bank (4,000) and Comcast, the cable company (300). And many more companies are imposing hiring freezes.

Here are five things you can do if you think you might lose your job:

1) Cut back on spending. Maybe that means cutting back on how many nights a week you eat out, the movies you go to see or the new shoes you buy. Or it could mean reevaluating whether you need all 200 cable channels or could survive with a cheaper package, or turning the heat down when you’re not at home (also good for the environment), or buying generic grocery products instead of brand-name ones. In the end, you’ll be glad later that you decided to put more money away for a rainy day.

2) Refinance high-interest credit cards, but try to avoid too many fees on balance transfers, etc. Look into getting a cash-back credit card. It’s a wonderful thing when you get a check for free money in the mail.

3) Do NOT fall victim to any of the many Internet or other scams out there now, preying on people who have bad credit, are unemployed or who are in default on their mortgage. If it’s too good to be true, it probably is. Before you sign up for anything, do your research.

4) Have your résumé updated. Make contacts with friends and other associates who work elsewhere, to put feelers out as to whether they are hiring. Network with people you may otherwise not give a second thought to. You never know when that guy you met at a work conference may come in handy.

5) Don’t panic. Research programs that can help you so that if and when the time comes when you lose your income, you are prepared. These programs may include food-stamp programs, or state unemployment insurance benefits. You can also check out your state’s one-stop workforce website, a list of which can be found here.

Overall, there are many things you can do to ease your mind — and your wallet — if you find yourself among the unemployed. Some may just take a little bit of creativity.