Public unemployment spending

Public unemployment spending is defined as expenditure on cash benefits for people to compensate for unemployment. This includes redundancy payments from public funds, as well as the payment of pensions to beneficiaries before they reach the standard pensionable age, if these payments are made because the beneficiaries are out of work or for other labour market policy reasons. This indicator is measured in percentage of GDP.

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Keywords: wage, labour market, cash expenditures, unemployment, social spending, replacement income, unemployed, benefits