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Unemployment benefit

Updated: Aug 20, 2021

Income support payments to the unemployed. In the UK this is called the jobseeker’s allowance. Countries differ in the level of such payments, which may be at a fixed rate or an amount related to previous wages, and in the length of time for which they are available. Eligibility for unemployment benefit may be related to previous contributions to an unemployment insurance fund.

Reference: Oxford Press Dictonary of Economics, 5th edt.

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James Knight
Editor of Education
James is a lead content editor for Invezz. He's an avid trader and golfer, who spends an inordinate amount of time watching Leicester City and the… read more.