Research on the Coverage Expansion and Optimization Strategy of Unemployment Insurance System Based on the Comparison between China and Britain

Abstract

A multi-level social security system is being proposed by the Chinese government, and all social insurance systems must meet the requirements of universality and ensure full coverage. However, in the field of unemployment insurance, the problem of unbalanced development still exists. The system’s effectiveness is insufficient, the unemployment benefit rate is low, the expansion space is huge, and the participation rate for unemployment insurance is poor. Utilizing both qualitative and literary analysis, it is evident that, in contrast to the UK, China’s unemployment insurance system expansion process is less targeted and serves the needs of economic construction, which is closely related to the challenges the country’s unemployment insurance system has faced. To address this issue, this study can create a system of unemployment insurance that centers around employment promotion, support legislation to increase coverage, and enhance policy targeting through structural reform. By doing so, China’s social security and unemployment insurance systems will be further improved, better able to meet the country’s citizens’ increasing demands for a better quality of life.