term:

Unemployment Compensation

unemployment compensation n

: compensation paid at regular intervals (as by a state agency) to an unemployed worker and esp. one who has been laid off called also unemployment benefit NOTE: Unemployment compensation is usually a fixed percentage of the former wages of an unemployed worker.

Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.