I have the same experience one and half a year ago. The feeling was terrible. I had waited my LC for 3 years and layoff came too quick.
I suggest you staying in US as long as possible. Going back China is second option. So many Chinese went back to China from US and too much competition there.
So you need to keep your status. Find a community college in your area and transfer your visa to F-1.
The most important thing is the most recent pay check stubs. You will have to file the F-1 application before the last pay check stub comes.
This is not the end of the world. After one year unemployment, I started working again since April 2004. I filed the Canadian Immigration Sept last year and I already finished the medical exam this month. As long as you have American experiences, it won't be that hard to find a job in Canada. At the least the feeling is much better I mean we do not need to worry about status in Canada.
If George W Bullshit is elected again this November, we would leave this country as soon as possible.
Good Luck!
My email is yangw99@hotmail.com and you are more than welcome to contact me.