Unemployment Insurance

Unemployment Insurance

A source of income for workers who have lost their jobs through no fault of their own. Workers who quit or are fired are generally not eligible for unemployment insurance. Workers who are self-employed are also not eligible to receive unemployment insurance and must provide their own rainy-day funds to cover times when no work is available.

Unemployment is paid to workers by state governments from a fund of unemployment taxes collected from employers. Unemployment insurance often only pays workers about half of what they were earning at their previous job to help encourage them to seek re-employment. The former employee often must continually prove that he or she has been actively searching for a job as a condition of continuing to receive unemployment insurance.


Investment dictionary. . 2012.

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Look at other dictionaries:

  • unemployment insurance — n: a social insurance program that provides unemployment compensation for a limited period to involuntarily unemployed workers Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. unemployment insurance …   Law dictionary

  • unemployment insurance — ➔ insurance * * * unemployment insurance UK US noun [U] ► US GOVERNMENT UNEMPLOYMENT COMPENSATION(Cf. ↑unemployment compensation) ► INSURANCE a type of insurance …   Financial and business terms

  • unemployment insurance — a government program that provides a limited number of payments to eligible workers who are involuntarily unemployed. [1920 25] * * * Form of social insurance designed to compensate workers for short term, involuntary unemployment. It was created …   Universalium

  • unemployment insurance — A form of social security, under state statutes complementary to the Federal Social Security Act, which provides for the payment of benefits to unemployed persons, subject to terms and conditions. 48 Am J1st Soc Sec § 10. Compulsory, state… …   Ballentine's law dictionary

  • unemployment insurance — noun : insurance (as provided by state laws adopted pursuant to the Federal Social Security Act) against loss of earnings by payments for a limited period during which a worker is involuntarily unemployed * * * a government program that provides… …   Useful english dictionary

  • unemployment insurance — noun Date: 1923 social insurance against involuntary unemployment that provides unemployment compensation for a limited period to unemployed workers; also unemployment compensation …   New Collegiate Dictionary

  • unemployment insurance — see unemployment compensation1, 2, 5 * * * see unemployment compensation 1,2,5 …   Combinatory dictionary

  • unemployment insurance — noun Insurance against loss of earnings during the time that an able bodied worker is involuntarily unemployed …   Wiktionary

  • Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 — Effective (Various dates for different provisions) Citations Public Law Public Law 111 312 Stat …   Wikipedia

  • Railroad Unemployment Insurance Act — A federal statute which sets up a comprehensive plan for the payment of unemployment insurance benefits to persons defined in the act as employees of railroads, and other specified employees engaged in or intimately connected with carriage by… …   Ballentine's law dictionary

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