Research on comparative political behavior and policy preferences has long argued that economic insecurity or labor-market risk should motivate support for social welfare policy, especially social insurance. Building on previous work (Compton & Philips 2021), we test the expectation that labor market risk shapes individuals’ preferences over the generosity and design of unemployment insurance programs in the US. Using a conjoint survey experiment administered through MTurk, we manipulate individuals’ perceived labor market risk by priming them about the unemployment rate. By conceptualizing and examining preferences as multidimensional, we reach a more nuanced understanding of individuals’ preferences over the design of social insurance policy, as well as overall support. The implications of our findings for research on comparative public policy preferences and policymaking are discussed.