OECD - Public unemployment spending is defined as expenditure on cash benefits for people to compensate for unemployment. The UK is therefore one of the lowest spenders on unemployment as a percentage of GDP (Gross Domestic Product).
This includes redundancy payments from public funds, as well as the payment of pensions to beneficiaries before they reach the standard pensionable age, if these payments are made because the beneficiaries are out of work or for other labour market policy reasons.
This indicator is measured in percentage of GDP.
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