Guinea: Labor freedom

* indicates monthly or quarterly data series

Labor freedom index (0-100)

 Latest value 50
 Year 2023
 Measure points
 Data availability 2005 - 2023
 Average 64
 Min - Max 50 - 78
 Source The Heritage Foundation
For that indicator, we provide data for Guinea from 2005 to 2023. The average value for Guinea during that period was 64 points with a minimum of 50 points in 2022 and a maximum of 78 points in 2010. The latest value from 2023 is 50 points. For comparison, the world average in 2023 based on 179 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
Guinea - Labor freedom - recent values

Historical chart
Guinea - Labor freedom - historical chart - 2005-2023

The Labor Freedom index for Guinea from the Heritage Foundation reflects the various aspects of the legal and regulatory framework of the labor market in Guinea, 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.

 Related indicators Latest value Reference Measure
 Property rights 20 2023 points
 Freedom from corruption 24 2023 points
 Fiscal freedom 92 2023 points
 Business freedom 45 2023 points
 Labor freedom 50 2023 points
 Monetary freedom 68.20 2023 points
 Trade freedom 59 2023 points
 Investment freedom 50 2023 points
 Financial freedom 40 2023 points
 Economic freedom, overall index 53 2023 index points
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