Latin Labor Index: Best & Worst
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19th November 2010

Labor issues are a key challenge in Latin America. What countries are best and worst when it comes to labor environment?
BY CHRONICLE STAFF
 
Labor is the key challenge facing small and medium-sized companies in Latin America, according to a new survey among 810 executives in the region. The survey, Latin America Business Monitor, was done by TNS Gallup Argentina on behalf of US-based logistics giant UPS.
 
So, what countries in Latin America have the best labor environment for local and foreign companies?
 
The Latin Labor Index from Latin Business Chronicle looks at 18 factors that determine overall labor conditions in 18 countries in Latin America.
 
The key factors include:

Fixed term contract flexibility

Minimum wage

Payments and restrictions for night and holiday work

Paid annual leave

Regulations and payments for redundancy

Flexibility of wage determination 

Cooperation in labor-employer relations

Brain drain

We also included education (mean and expected years of schooling) and a health factor such as life expectancy at birth.ECONOMIC IMPACT
 
An attractive labor environment is one key factor for multinationals evaluating setting up operations or expanding existing ones. However, it also impacts the local economy, helping to reduce the informal sector and boost tax revenues from the formal sector.
 
“Good labor regulation promotes new businesses and can help shift workers to the formal sector, where they will …

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