This is just my own experience, it may or may not be relevant to your situation
Joysmum
From there you can tell him that you need him to always share his thoughts and feeling with you and not to try to protect you from anything. Hopefully this will start off a discussion, let him talk, let him do the majority of the talking. If he stop talking, go back to hugging again and repeating how much you love him and what an amazing man he is and how lucky you are even if life is throwing shit at you both right now
I know, from my own experience, that this sort of action can really make a difference. Albeit, what led to this was a slightly different situation to that which you are going through at the moment.
My dh was eventually in tears when I told him basically the same things that Joysmum said above. Actually, this was a little bit frightening for me as well - I'd never seen my dh reduced to tears like this before this.
He had always been one of these stoic people that, no matter what life throws at them, is always able to deal with it and cope with any problems. This may sound a real cliche, but he really had always been my ''rock'' to rely on during our marriage when we or I had problems.
This happened to us a few years ago and, when we were able to talk about it later, he said that it was only really then that he truly understood that I really did love him. At the time, him saying this did hurt me.
But then I realised that, while I'd always been caring and loving there had never really been a time when I really had to step up to the plate and make it clear that I had his back just as much as he had always had mine.
I know that sounds incredibly American and gung-ho but I don't really know how else to describe it.
It can be very difficult indeed for many men to talk about their feelings and admit that they are having problems.
It might not sound like much, but making him aware that you do still actually love him, even if he does lose his job, and getting him to talk about his worries will probably make a huge difference.
Then, after all the tears - from both of us - and me really listening to him once I had managed to get him to talk about his concerns I actually mentioned to him a few things that he had been doing that had been upsetting me.
As when the OP said it feels like we are both so below fighting strength that I can't adequately support him that is very much how I felt.
Actually, this is one of the reasons I've posted here. These are almost exactly the same words I used with my dh. I went on from there to tell him some of the things that I was feeling about his treatment of me and how it was making me feel. He was absolutely mortified as he hadn't realised any of this was happening.
From there he started making changes to help support me - started being the operative word - and I felt a lot stronger in terms of being able to support him in very concrete ways that were specific to our situation.
I don't know if this helps at all, but I've been in a similar situation and just wanted to give you a little bit of hope that there can be light at the end of the tunnel