In this article several micro-level determinants and the unemployment rate as macro-level determinant of perceived job insecurity are studied among Finnish employees from 1984 to 2008. The main questions are: Is the unemployment rate a significant macro-level determinant in different times, what is the most relevant unit for measuring unemployment – region or industry –, and does the effect of the micro- and macro-level determinants vary over time? The findings suggest that industry-related characteristics are more important than regional characteristics in explaining job insecurity. Perceived job insecurity is explained by micro-level determinants as well as unemployment rate as macro-level determinant. The effects, however, vary over time: the meaning of industry-related characteristics decreases and the meaning of individual-level characteristics increases.