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Andreas Knabe and Steffen Rätzel
''Better an insecure job than no job at all? Unemployment, job insecurity and subjective wellbeing''
( 2010, Vol. 30 No.3 )
We analyze the impact of a person’s current employment status and expectations about his or her future labor market status on life satisfaction, using long -run panel data for Germany. Our findings suggest that future expectations (measured by perceived job security for the employed and chances to find a new job for the unemployed) are at least as important for a person ’s subjective well-being as his or her current employment status. This implies that an unemployed person who thinks it will be easy to find a new job might be happier than if he had an insecure job. There might be circum¬stances under which having no job is less harmful for subjective well-being than being employed in an insecure one.
Keywords: Financial Development
C5 - Econometric Modeling: General
Manuscript Received : Aug 31 2010 Manuscript Accepted : Sep 23 2010

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