I think it's a useful measure of the cost to firms of firing workers across countries. That's about it.

And it's great for us that the correlation between their measure of what they think is important for a well-functioning labor market is not really all that well correlated with more objective measures like employment rates, unemployment rates, labor productivity, and so on. It really helps to nail our case. If their theories were right then the US and UK should dominate everybody else in terms of employment and productivity, and they don't.

That's why I refer to it so much.