Barbados: Labor freedom

* indicates monthly or quarterly data series

Labor freedom index (0-100)

 Latest value 56
 Year 2024
 Measure points
 Data availability 2005 - 2024
 Average 72
 Min - Max 56 - 84
 Source The Heritage Foundation
For that indicator, we provide data for Barbados from 2005 to 2024. The average value for Barbados during that period was 72 points with a minimum of 56 points in 2024 and a maximum of 84 points in 2013. The latest value from 2024 is 56 points. For comparison, the world average in 2024 based on 174 countries is 56 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

Recent values chart
Barbados - Labor freedom - Recent values chart

Historical chart
Barbados - Labor freedom - historical chart - 2005-2024

The Labor Freedom index for Barbados from the Heritage Foundation reflects the various aspects of the legal and regulatory framework of the labor market in Barbados, 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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 Related indicators Latest value Reference Measure
 Property rights 72 2024 points
 Freedom from corruption 68 2024 points
 Fiscal freedom 56 2024 points
 Business freedom 73 2024 points
 Labor freedom 56 2024 points
 Monetary freedom 77.70 2024 points
 Trade freedom 44 2024 points
 Investment freedom 60 2024 points
 Financial freedom 60 2024 points
 Economic freedom, overall index 67 2024 index points
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