[wentin]

I don't like it personally. I feel it is exaggerated, especially the part "I don't have the right words" I would feel awkward if I were on the receiving end — I lost my job, not someone died. Maybe it is just me, I get awkward easily, for context.

It highly depends on the context. Are they 20-something single person working on a high-pay job, or someone older with a family to support and struggling? The response needs to be different.

[notRobot]

There are no universally applicable "right words" for this (or many other situations), so sometimes "I do have the right words" are the right words because they do a good job at conveying the speaker's intent (of showing that they care and are there to help).

[js8]

Maybe instead of that sentence, if you really like them and would like to see them again, tell them you would like to see them again sometimes?