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| Andreas Knabe and Steffen Rätzel |
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| ''Better an insecure job than no job at all? Unemployment, job insecurity and subjective wellbeing'' |
| ( 2010, Vol. 30 No.3 ) |
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| 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. |
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| Keywords: Financial Development |
JEL:
C5 - Econometric Modeling: General |
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| Manuscript Received : Aug 31 2010 | | Manuscript Accepted : Sep 23 2010 |
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