welfare - definition in the Business English Dictionary - Cambridge Dictionaries Online

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English definition of “welfare”

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welfare

noun [U]
 
 
/ˈwelfeər/
the general state of health or degree of success of a person, business, country, etc.: Their GDP figures look good, but perhaps at a cost to their overall economic welfare. We are a progressive employer concerned with employee welfare.
ECONOMICS help given, especially by the state or another organization, to people who need it, especially because they are poor: welfare services/programs/workers Some people fear the euro will weaken their welfare system.
US ( UK social security) ECONOMICS a system of payments by the government to people who are ill, poor, or have no job: on welfare She is a single parent on welfare.
(Definition of welfare from the Cambridge Business English Dictionary © Cambridge University Press)
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