Just some facts today on who gets the most paid time off.
According to the Economist, looking at a combination of public holidays and annual leave days for which workers have to be paid, Austria, Greece and France are at the top of the list while Canada, China and the Philippines are at the bottom. Although the U.S. has no federal mandate for paid holidays, still we average 15 days and are sixth from end of a 19 nation list.
Summarizing, the Economist says that North Americans and Asians have fewer holidays than South Americans and Europeans.
And…the royal wedding meant an extra day off for the U.K.
The Economic Lesson
Cost and benefit can be assessed privately and socially. For days off, there could be a lot of difference between well being from the worker’s perspective and the broader considerations for business and society.
An economic question: How might you compare cost/benefit in a high holiday country for the single worker and for his or her employer?