Definitions for unemployment benefit
This page provides all possible meanings and translations of the word unemployment benefit
Random House Webster's College Dictionary
a usu. weekly payment of money to an unemployed worker under an unemployment insurance program. Also called unemploy′ment compensa`tion.
Origin of unemployment benefit:
money paid by the government, special-purpose fund or similar to those who are unemployed and looking for work.
Unemployment benefits are social welfare payments made by the state or other authorised bodies to unemployed people. Benefits may be based on a compulsory para-governmental insurance system. 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. In some countries, a significant proportion of unemployment benefits are distributed by trade/labour unions, an arrangement known as the Ghent system.
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"unemployment benefit." Definitions.net. STANDS4 LLC, 2014. Web. 31 Aug. 2014. <http://www.definitions.net/definition/unemployment benefit>.