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

  • Andreas Knabe

    ()

    (Freie Universität Berlin)

  • Steffen Rätzel

    ()

    (Otto-von-Guericke-University Magdeburg)

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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File URL: http://www.accessecon.com/Pubs/EB/2010/Volume30/EB-10-V30-I3-P228.pdf
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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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  1. Melvin Stephens, 2004. "Job Loss Expectations, Realizations, and Household Consumption Behavior," The Review of Economics and Statistics, MIT Press, vol. 86(1), pages 253-269, February.
  2. Dickerson, Andy & Green, Francis, 2012. "Fears and realisations of employment insecurity," Labour Economics, Elsevier, vol. 19(2), pages 198-210.
  3. Charles F. Manski, 2004. "Measuring Expectations," Econometrica, Econometric Society, vol. 72(5), pages 1329-1376, 09.
  4. Ada Ferrer-i-Carbonell & Paul Frijters, 2004. "How Important is Methodology for the estimates of the determinants of Happiness?," Economic Journal, Royal Economic Society, vol. 114(497), pages 641-659, 07.
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