Title: Impact of increasing the rate unemployment benefits - Economics Help
Headings: Impact of increasing the rate unemployment benefits
Impact of increasing the rate unemployment benefits
Benefits of increasing unemployment benefits
Problems of increasing unemployment benefits
Statistics
Cost of unemployment benefits
Unemployment benefit spending compared to social security spending.
Fraudulent Unemployment benefit claims

Content: Benefits of increasing unemployment benefits
Provides more income, reducing relative poverty and improving living standards. Gives them support in finding the best job. If benefits are low, then they will be forced to get the quickest job they can find. But, this may not be suitable for their skills. Higher benefits enable the unemployed to take more time and find a job which matches their skills. This is also a benefit for society. For example, if someone leaves university, with a degree in astrophysics, we don’t want them working in McDonalds because unemployment benefits are too low to support their job search on leaving university. Basically, frictional unemployment is not a bad thing; sometimes it takes time to find the right job. Low unemployment benefits could fuel social unrest and encourage the unemployed to resort to crime to supplement their income.