Work provides manifest functions (i.e., financial income) and latent functions (i.e., a daily routine, socialization, purpose, social status, and regular activity). The loss of these functions negatively affects psychological wellbeing. This study determined the effect of stress management trainings on the psychological well-being of unemployed individuals. The study used quasi-experimental design with pretest-posttest. The population consisted of individuals who have lost their jobs and still are unemployed due to the COVID-19 pandemic. A total of 33 respondents were randomly assigned into experimental and control groups. The experimental group undergone stress management training and control group received no intervention. The instrument used was Psychological well-being scale by Caroll Ryff. Data were analyzed using mean, standard deviation, frequency, percentage, and t-test. The results of the study showed no significant difference between the pre-test of control and experimental groups; a significant difference between the post-test of control and experimental groups; a significant difference between the pre-test and post-test scores of control group and a significant difference between the pre-test and post-test scores of the experimental group. The results showed that stress management training program can be a useful approach to increase psychological well-being of individuals who have lost their jobs.