Is this utopia?

Imagine a country where all citizens are assured of a job that earns enough for them to raise a family. These people may not be super rich, but they can get by. They have to work hard, but only for 40 hours a week. They do not have to worry about unemployment. Is this a good country to live in?

It is possible to have a country that operates such an economic system. What type of economic system is this?