As a guide to the interpretation and application of this chapter, the public policy of this state is declared to be as follows:
(1) Economic insecurity due to unemployment is a serious menace to the health, morals, and welfare of the people of this state. Involuntary unemployment is a subject of general interest and concern which requires appropriate action by the General Assembly to prevent its spread and to lighten its burden which may fall with crushing force upon the unemployed worker and his or her family. The achievement of social security requires protection against this great hazard of our economic life.
(2) This can be accomplished by encouraging employers to provide more stable employment and by the systematic accumulation of funds during periods of employment from which benefits may be paid for periods of unemployment, thus maintaining purchasing power and limiting the serious social consequences of poor relief assistance.
(3) The General Assembly, therefore, declares that in its considered judgment the public good and the general welfare of the citizens of this state require the enactment of this measure, under the police power of the state, for the compulsory setting aside of unemployment reserves to be used for the benefit of persons unemployed through no fault of their own.