Losing your job is awful, but it’s less awful in some places than in others. Call it the real estate rule of unemployment — it’s all about location, location, location. But where’s the “best” (or least awful) place to lose your job? Israel.
Unemployment is created equal but unemployment benefits are not. The chart below, from this OECD benefits calculator, gives us a picture of just how unequal social safety nets are across rich countries when it comes to joblessness. It shows household income with unemployment benefits as a percentage of previous household income back from 2010 — note that this includes a working spouse’s income. In each case, I’ve assumed that people who lost their jobs had salaries equal to their country’s average salary beforehand. Notice the difference between Anglo-Saxon and European capitalism — Anglophone countries are stingier than their continental counterparts when it comes to helping the unemployed, especially if they don’t have kids….
The recent global economic crisis has served as a stark reminder of why unemployment insurance matters. But the reality is that fewer than half of almost 200 countries monitored by the ILO offer such protection. More than 70 per cent of workers worldwide have no statutory access to unemployment insurance or any type of unemployment … Continue reading »