Skill upgrades in a recession

Sounds a tempting proposition .... :)

Atul: Layoffs in my company. I got fired. I don't have a clue what I should do now.
Amit: Maybe you should spend some time upgrading your skills.
Atul: Like what? Certifications, training programmes - what good is that?
Amit: Why not the best skill upgrade available - a Phd ? :)
Atul: Five years of skill-upgrade :D. For myself and no one else. Not a bad idea :)

PS: All characters above are purely fictional and symbolic :P