New Zealand: Labor freedom
* indicates monthly or quarterly data series
New Zealand |
Labor freedom index (0-100) |
---|---|
Latest value | 70 |
Year | 2024 |
Measure | points |
Data availability | 2005 - 2024 |
Average | 86 |
Min - Max | 70 - 93 |
Source | The Heritage Foundation |
The latest value from 2024 is 70 points, a decline from 72 points in 2023. In comparison, the world average is 56 points, based on data from 174 countries. Historically, the average for New Zealand from 2005 to 2024 is 86 points. The minimum value, 70 points, was reached in 2024 while the maximum of 93 points was recorded in 2006.
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The Labor Freedom index for New Zealand from the Heritage Foundation reflects the various aspects of the legal and regulatory framework of the labor market in New Zealand, 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 | 87 | 2024 | points |
Freedom from corruption | 96 | 2024 | points |
Fiscal freedom | 72 | 2024 | points |
Business freedom | 88 | 2024 | points |
Labor freedom | 70 | 2024 | points |
Monetary freedom | 74.60 | 2024 | points |
Trade freedom | 90 | 2024 | points |
Investment freedom | 70 | 2024 | points |
Financial freedom | 80 | 2024 | points |
Economic freedom, overall index | 78 | 2024 | index points |