Austria: Labor freedom

(measure: points; Source: The Heritage Foundation)
* indicates monthly or quarterly data series

Austria: Labor freedom index (0-100), 2005 - 2021:

For that indicator, we provide data for Austria from 2005 to 2021. The average value for Austria during that period was 74 points with a minimum of 67 points in 2018 and a maximum of 81 points in 2014. The latest value from 2021 is 68 points. For comparison, the world average in 2021 based on 180 countries is 60 points. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series

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The Labor Freedom index for Austria from the Heritage Foundation reflects the various aspects of the legal and regulatory framework of the labor market in Austria, including the minimum wage; laws inhibiting layoffs; severance requirements; and the regulatory burdens on hiring.

Definition: The Labor freedom index is composed of six quantitative factors: ratio of minimum wage to the average value added per worker, hindrance to hiring additional workers, rigidity of hours, difficulty of firing redundant employees, legally mandated notice period, and mandatory severance pay. The index is based on data collected in connection with the World Bank’s Doing Business study.
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