unemployment insurance

noun

a government program that provides a limited number of payments to eligible workers who are involuntarily unemployed.

Origin of unemployment insurance

First recorded in 1920–25

Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2018

Using the unemployment-insurance system to fund hours reductions is the right first step.
How to Really Fix the Economy
Juliet Schor
August 19, 2010