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The Case for Wage Insurance
From: Council on Foreign Relations
Many of us fear job displacement and loss of wages when reaching a certain age. This report acknowledges these fears and suggests displacement insurance as a way to protect aging workers that may experience a drastic reduction of income after displacement. Limiting benefits to 50% of the difference and providing incentives to look for higher income jobs would discourage manipulation of the policy. This report explores the possibility of worker displacement insurance and makes a case for its implementation as it makes the labor market more flexible and thus competitive.
Posted by: Dennis Chin
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