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Unemployment benefit


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.