Labor freedom is a quantitative measure that considers various aspects of the legal and regulatory framework of a country’s labor market, including regulations concerning minimum wages, laws inhibiting layoffs, severance requirements, and measurable regulatory restraints on hiring and hours worked, plus the labor force participation rate as an indicative measure of employment opportunities in the labor market. Seven quantitative sub-factors are equally weighted, with each counted as one-seventh of the labor freedom component: 1) ratio of minimum wage to the average value added per worker, 2) hindrance to hiring additional workers, 3) rigidity of hours, 4) difficulty of firing redundant employees, 5) legally mandated notice period, 6) mandatory severance pay, and 7) labor force participation rate. This is a Composite Index (i.e. aggregating multiple sources)