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Labor Market Policy and Subjective Well-Being During the Great Recession
22-07-2020 | STATEC

Subjective well-being decreased in Europe during the Great Recession; however, individuals in some countries fared better than others depending on their labor market policies. We find both types of unemployment support, income replacement and active labor market policy (which assists the unemployed find jobs), mitigated the negative effects for most of the population (except youth); however income replacement performed better, reducing the impacts of the Recession to a greater degree.