[millimeterman]

That kind of "stability" is more accurately described as stagnation. It may protect workers in a narrow sense, but it also disincentivizes the kind of productive risk-taking that leads to business creation, innovation and overall societal increases in wealth. This type of worker protection scheme is what people tend to reach for because it's the first thing they think of and it sounds sensible, but it can really drag on society in the long-term.

A much more effective approach would be to make loss of employment not be a big deal, e.g. through stronger social safety nets. That way you ensure people's lives are financially stable but without introducing friction to efficient allocation of resources. Ideally, losing your job would be no more than a mild inconvenience - like having to buy a different brand of milk because your usual is out of stock. That ideal isn't realistically achievable, but we can at least try to get closer.