Unemployment benefits
From The Art and Popular Culture Encyclopedia
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Unemployment benefits (depending on the jurisdiction also called unemployment insurance or unemployment compensation) are payments made by the state or other authorized bodies to unemployed people. In the United States, benefits are funded by a compulsory governmental insurance system, not taxes on individual citizens. Depending on the jurisdiction and the status of the person, those sums may be small, covering only basic needs, or may compensate the lost time proportionally to the previous earned salary.
Unemployment benefits are generally given only to those registering as unemployed, and often on conditions ensuring that they seek work and do not currently have a job, and are validated as being laid off and not fired for cause in most states.
In some countries, a significant proportion of unemployment benefits are distributed by trade/labour unions, an arrangement known as the Ghent system.
See also
- Unemployment extension
- Social rights
- HIRE Act
- Reserve army of labour
- Involuntary unemployment
- Labour power
- Compensation of employees
- Lorenz curve
- Social insurance
