DataBank

Metadata Glossary

CodeGCI.7THPILLAR.XQ
Indicator Name7th pillar: Labor market efficiency
Short definitionThis indicator is a derived from the following indicators: (a) Cooperation in labor-employer relations (b) Flexibility of wage determination (c) Rigidity of employment (d) Hiring and firing practices (e) Firing costs (f) Pay and productivity (g) Reliance on professional management (g) Brain drain and (h) Female participation in labor force.
Long definitionThis indicator is a derived from the following indicators: - (a) Cooperation in labor-employer relations (b) Flexibility of wage determination (c) Rigidity of employment (d) Hiring and firing practices (e) Firing costs (f) Pay and productivity (g) Reliance on professional management (g) Brain drain and (h) Female participation in labor force.
SourceThe Global Competitiveness Report: various issues (http://gcr.weforum.org/).
TopicPublic Sector: Policy & institutions
PeriodicityAnnual
General commentsTwo types of data are used in the GCI: (a) Survey data:These data are the results drawn from the World Economic Forum’s Executive Opinion Survey. (b) Hard data: These data come from indicators obtained from a variety of sources.
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