Unemployment is an uninsurable risk!

The purpose of insurance is to take the risk from an individual and spread it among a large number of people and  / or organizations that are exposed to the same, or similar, risks.

So, rather than one person absorbing a million dollar loss, it's preferable to have a million people lose a dollar. In theory  and practice, this is done by an insurance company. But, Lloyds of London is a partnership. 

In order to transfer the risks, someone has to estimate the probability and cost of losses.  So, losses have to be estimable. Also there needs to be a large population to spread it over. Or, at least, some population who wants to pool their risks and minimize their losses. So this assumes that there are a class of people who all are exposed to the risk. 

I have full control over being employed or not being employed. All I have to do is tell my boss what I really think of him and I will soon be unemployed. On the other hand, I can almost always make sure that I will be employed if I am willing to take drastic wage cuts, for instance. If I were to work nearly for free, I would be employed.

So obviously this is not a risk that is insurable. It falls into the realm of individual responsibility.

It's a scam by gubamint to: confuse the issue, make people dependent upon gubamint as opposed to self-reliant / family -reliant, destabilize families, train people to taking welfare, eviscerate charities – unions – fraternal organizations – clubs, create make work jobs for gubamint "workers", and above all make the politicians look good.