It's not good, but, as long as it's temporary and you're prepared for it, it's not
that bad. After all, I basically made the decision to lay myself off at my last company.
Life always throws something f*ed at you, whether it's a job loss, the loss of a loved one, an illness or injury, a major problem with a spouse or girlfriend, etc. So going through something like this once in a while (as long as it's not constant!) is just life -- learning to cope and adjust with something in your life that's screwed up.
It's good for brushing up on your life coping skills.