In this paper, the authors first discuss the Neumark and Troske piece, and then compare the U.S. context to that in Europe and Korea, as described by the Caspar, Hartwig, and Moench and the Cho and Shin contributions. Although they are in basic agreement with Neumark and Troske on the extent and depth of the current employment situation, they…

This article argues that unemployment benefits are providing a crucial but often overlooked function by reducing the insecurity associated with modern labor markets. Because job insecurity is associated with concerns about future financial security, economic support during unemployment may lessen the negative effects of job insecurity on employed…