• Entry
  • Reader's guide
  • Entries A-Z
  • Subject index

Unemployment Insurance

Unemployment insurance is a social insurance program that pays individuals a fraction of their lost wages when they lose their job. In most countries, unemployment must be involuntary. So, individuals who quit their job or are fired for cause are typically ineligible to receive benefits. Also, to be eligible for unemployment insurance benefits, individuals must have had sufficient work experience. Unemployment insurance systems typically require that the unemployed individual be capable and available for work, and that an unemployed individual actively search for a job, although in some countries, this requirement is waived if individuals are waiting to be recalled to work at their former employer. The amount of unemployment insurance benefits that an individual receives is usually a fraction of their average earnings over ...

    • Loading...
    locked icon

    Sign in to access this content

    Get a 30 day FREE TRIAL

    • Watch videos from a variety of sources bringing classroom topics to life
    • Read modern, diverse business cases
    • Explore hundreds of books and reference titles