Hong Kong, China has Most Efficient Labour Market Globally

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The World Bank’s Global Competitiveness Index 2013 measures labour market efficiency in 148 countries globally. It takes into account aspects such as flexibility of employers to determine wages, capacity to attract and retain talent, female participation in the labour force and redundancy costs. Hong Kong, China, ranks first overall for its labour market efficiency, and ease of hiring and firing. Many developed markets rank poorly for ease of hiring and firing, with France ranked 144th.