Guyana: Labor freedom

* indicates monthly or quarterly data series
 Guyana

Labor freedom index (0-100)

 Latest value 77
 Year 2024
 Measure points
 Data availability 2005 - 2024
 Average 67
 Min - Max 60 - 77
 Source The Heritage Foundation
The latest value from 2024 is 77 points, an increase from 74 points in 2023. In comparison, the world average is 56 points, based on data from 174 countries. Historically, the average for Guyana from 2005 to 2024 is 67 points. The minimum value, 60 points, was reached in 2011 while the maximum of 77 points was recorded in 2024. See the global rankings or world map for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent data
Guyana - Labor freedom - Recent values chart

Historical series
Guyana - Labor freedom - historical chart - 2005-2024




The Labor Freedom index for Guyana from the Heritage Foundation reflects the various aspects of the legal and regulatory framework of the labor market in Guyana, 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 Reference Measure
 Property rights 47 2024 points
 Freedom from corruption 39 2024 points
 Fiscal freedom 26 2024 points
 Business freedom 71 2024 points
 Labor freedom 77 2024 points
 Monetary freedom 75.50 2024 points
 Trade freedom 64 2024 points
 Investment freedom 55 2024 points
 Financial freedom 30 2024 points
 Economic freedom, overall index 57 2024 index points
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