Ive looked around for these figures for a while. Finally a uni released them. Interesting to note we have one of the poorest benifits systems in the world. Falling behind even Poland and Romania. erm..... I thought we got told they were all coming here to steal our benefits World ranking in Unemployment Benefit replacement rates In times of crisis, the ability of workers who lose their jobs to retain their purchasing power has important social and economic implications. A high replacement rate (ratio of unemployment benefits a worker receives relative to the worker’s last gross earning) ensures that the negative effects of rising unemployment on aggregate demand are mitigated. It also prevents workers from falling into poverty when they lose their jobs. The table below shows the gross replacement rate in the first year of unemployment for as many countries as is available. The data is taken from a recent IMF working paper (see end of post for full reference). I have ranked countries from highest to lowest (restricting the sample to those countries which replacement rate is superior to 0). An interesting finding is that European countries did not have the monopoly of high replacement rates in 2000. This challenges the notion that high economic development is a necessary or sufficient condition for protection fo workers to be high. Indeed, workers who have unemployment insurance in non-EU countries sometimes score higher. For instance, in the top 10 one finds Ukraine, Algeria, and Taiwan, while Russia, Tunisia, Romania and Hong Kong make it into the top 20. The Anglo Saxon countries rank poorly: UK (46th), Australia (43rd) and Ireland (39th); US (31st) i.e.: coming after Venezuala, Azerbaijan, Egypt, Belarus... The picture for Eastern European countries is more mixed with Bulgaria (16th), Romania (18th), Ukraine (9th) doing ok, whereas others do not do so well: Estonia (48th), Poland (41st), Czech Republic (42nd). Country Gross Replacement Rate, year 1 Ranking Netherlands 0.7 1 Switzerland 0.687 2 Sweden 0.685 3 Portugal 0.65 4 Spain 0.635 5 Norway 0.624 6 Algeria 0.612 7 Taiwan 0.6 8 Ukraine 0.56 9 Italy 0.527 10 Denmark 0.521 11 Russia 0.505 12 Tunisia 0.5 13 Finland 0.494 14 France 0.479 15 Bulgaria 0.473 16 Canada 0.459 17 Romania 0.45 18 Hong Kong 0.41 19 Austria 0.398 20 Belgium 0.373 21 Argentina 0.354 22 Germany 0.353 23 Greece 0.346 24 Azerbaijan 0.338 25 Egypt 0.329 26 Venezuela 0.325 27 Belarus 0.313 28 Israel 0.307 29 Japan 0.289 30 United States 0.275 31 Kyrgyzstan 0.255 32 New Zealand 0.254 33 Latvia 0.253 34 India 0.25 38 Korea, South 0.25 37 Uruguay 0.25 36 Uzbekistan 0.25 35 Ireland 0.238 39 Hungary 0.235 40 Poland 0.226 41 Czech Republic 0.225 42 Australia 0.21 43 Turkey 0.206 44 Albania 0.202 45 United Kingdom 0.189 46 Brazil 0.152 47 Estonia 0.132 48 Lithuania 0.117 49 Chile 0.115 50 Georgia 0.09 51
Posted on: Wed, 29 Jan 2014 22:24:11 +0000
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