High rates of unemployment entail substantial costs to the working population in terms of reduced subjective well-being. This paper studies the importance of individual economic security, in particular, job security, in workers' well-being by exploiting sector-specific institutional differences...

A number of empirical studies have shown a positive influence of employment stability on job satisfaction. Employment stability, usually measured by a proxy, "type of contract", may affect one's job satisfaction directly, as well as through an impact on other relative variables, such as job...