Mongolia: Labor freedom

* indicates monthly or quarterly data series

Labor freedom index (0-100)

 Latest value 68
 Year 2023
 Measure points
 Data availability 2005 - 2023
 Average 74
 Min - Max 68 - 83
 Source The Heritage Foundation
For that indicator, we provide data for Mongolia from 2005 to 2023. The average value for Mongolia during that period was 74 points with a minimum of 68 points in 2009 and a maximum of 83 points in 2015. The latest value from 2023 is 68 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
Mongolia - Labor freedom - recent values

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

The Labor Freedom index for Mongolia from the Heritage Foundation reflects the various aspects of the legal and regulatory framework of the labor market in Mongolia, 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 49 2023 points
 Freedom from corruption 37 2023 points
 Fiscal freedom 64 2023 points
 Business freedom 66 2023 points
 Labor freedom 68 2023 points
 Monetary freedom 74.10 2023 points
 Trade freedom 74 2023 points
 Investment freedom 50 2023 points
 Financial freedom 50 2023 points
 Economic freedom, overall index 62 2023 index points
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