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Better an insecure job than no job at all? Unemployment, job insecurity and subjective wellbeing

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  • Andreas Knabe

    ()
    (Freie Universität Berlin)

  • Steffen Rätzel

    ()
    (Otto-von-Guericke-University Magdeburg)

Abstract

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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Bibliographic Info

Article provided by AccessEcon in its journal Economics Bulletin.

Volume (Year): 30 (2010)
Issue (Month): 3 ()
Pages: 2486-2494

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Handle: RePEc:ebl:ecbull:eb-10-00537

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Keywords: Financial Development;

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  1. Ada Ferrer-i-Carbonell & Paul Frijters, 2002. "How important is Methodology for the Estimates of the Determinants of Happiness?," Tinbergen Institute Discussion Papers, Tinbergen Institute 02-024/3, Tinbergen Institute.
  2. Charles F. Manski, 2004. "Measuring Expectations," Econometrica, Econometric Society, Econometric Society, vol. 72(5), pages 1329-1376, 09.
  3. Andy Dickerson & Francis Green, 2009. "Fears and realisations of employment insecurity," Working Papers, The University of Sheffield, Department of Economics 2009016, The University of Sheffield, Department of Economics, revised Nov 2009.
  4. Melvin Stephens, Jr., 2003. "Job Loss Expectations, Realizations, and Household Consumption Behavior," NBER Working Papers 9508, National Bureau of Economic Research, Inc.
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Cited by:
  1. Adrian Chadi, 2012. "I would really love to participate in your survey! Bias problems in the measurement of well-being," Economics Bulletin, AccessEcon, vol. 32(4), pages 3111-3119.
  2. Adrian Chadi & Clemens Hetschko, 2013. "Flexibilisation without Hesitation? Temporary Contracts and Workers’ Satisfaction," IAAEU Discussion Papers, Institute of Labour Law and Industrial Relations in the European Union (IAAEU) 201304, Institute of Labour Law and Industrial Relations in the European Union (IAAEU).
  3. Maike Schmitt, 2013. "Subjective Well-Being and Air Quality in Germany," SOEPpapers on Multidisciplinary Panel Data Research 541, DIW Berlin, The German Socio-Economic Panel (SOEP).
  4. Nicolai Suppa, 2012. "Job Characteristics and Subjective Well-Being in Australia – A Capability Approach Perspective," Ruhr Economic Papers, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen 0388, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
  5. Marcus Klemm, 2012. "Job Security and Fertility: Evidence from German Reunification," Ruhr Economic Papers, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen 0379, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
  6. Arndt Reichert & Harald Tauchmann, 2011. "The Causal Impact of Fear of Unemployment on Psychological Health," Ruhr Economic Papers, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen 0266, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.

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