Hey, this looks like homework! Is this cheating?
Just kidding :)
I would use the past tense version of "lay" and switch "got" for "were".
Many people were laid off and are out of work because of the decreasing of our economy.
I opted for the past tense because the sentence explains something that already has happened. They are "out of work", not "will be out of work".
Student or Learner