Luxembourg has been identified as the best European country in which to be unemployed, taking into account the value of unemployment benefits and living expenses, a new study has found.
As the study found, Luxembourg provides a ‘strong safety net’ to those that are jobless, with an unemployment income of $4,606 (€4,284) (86% of the average salary, highest in the world) and living expenses totalling $2,457 (€2,285), resulting in a surplus of $2,148 (€1,999) remaining after covering living costs.
Switzerland, which places second, boasts the highest living costs in the study, also has a high rate of unemployment benefits (74% of the average salary), leaving job seekers with $1,594 (€1,483) after covering living costs of $3,227 (€3,001).
The Netherlands ranks third, with an unemployment income of $2,567 (€2,388) and expenses of $2,220 (€2,063), providing a surplus of $348 (€324). Outside of Europe, Japan (4th) also ranks highly.
About the study
The study collected data from over 30 countries, initially focusing on the net replacement rate in unemployment, which indicates the percentage of an individual’s average salary compensated by unemployment benefits. Average salary data was gathered to calculate the precise monthly unemployment income.
Additionally, monthly living expenses, covering cost of living and rent, were determined to evaluate the total monthly costs for an unemployed individual.
The final ranking was determined based on the surplus of unemployment income after deducting these living expenses. The study was undertaken by EvenBet Gaming.
Read more: What European country had the highest unemployment rate in March 2024?
Top countries in which to be unemployed
| Rank | Countries | Average Wage | Unemployment Income | Rent + Cost of Living | Unemployment Income – (Rent + Cost of Living) |
|---|---|---|---|---|---|
| 1 | Luxembourg | $5,355.38 | $4,605.63 | $2,457.20 | $2,148.43 |
| 2 | Switzerland | $6,515.25 | $4,821.29 | $3,226.77 | $1,594.52 |
| 3 | Netherlands | $3,469.27 | $2,567.26 | $2,219.67 | $347.59 |
| 4 | Japan | $2,187.84 | $1,465.85 | $1,223.09 | $242.76 |
| 5 | France | $2,502.60 | $1,701.77 | $1,664.32 | $37.45 |
