Unemployment insurance benefits help individuals who have lost their job to sustain a desirable consumption level. An MIT economist, Jonathan Gruber, argues that private insurance or savings are not enough to prevent a large drop in the consumption of the unemployed. Unemployment insurance benefits people who have lost their jobs. Because this unemployment benefit through unemployment insurance will be helpful for them to maintain the desired level of consumption. According to the economist, private saving is not enough to offset the drop in consumption. Without unemployment insurance, consumption could fall by 22%, according to Economist Jonathan Gruber. The unemployed were able to maintain the level of consumption they wanted over the past year, even if they lost their jobs