I GOT LAID OFF. WHAT SHOULD I DO?

I got laid off from my sweet job at that big-name company back in October. It was a real shock, especially since things were going well. Turns out, the company hit some rough waters and had to let some people go, and I was unfortunately one of them.

Now, my old boss is offering me a position at one of their partner companies. The catch? It's a step down from what I was doing, and the pay is a bit lower.

I'm really torn. On the one hand, I need a job, and this is something, right? I'm the sole breadwinner for my family, and I was planning on getting married soon. On the other hand, I feel like I'm compromising my career. Should I take it, or keep searching for something that's a better fit?

UPDATE: I have accepted the offer. Negotiated the post title and the salary. Now the position and the salary is same as my previous job. I will be joining at new job from February. Thanks to all of you for your support and suggestions. <3 <3