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The misery index hit a 59-year low, so why are we still miserable?

 
Anonymous Coward
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10/15/2015 12:33 PM
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The misery index hit a 59-year low, so why are we still miserable?
The below does not factor the true unemployment/underemployment rate.
What candidate actually talks about the true numbers?


WASHINGTON (MarketWatch) — The misery index just fell to a 59-year low, but nobody seems to be very happy about the lack of misery.

The misery index was invented by economist Arthur Okun in the 1970s as a way of expressing his frustration at the two main economic problems of the day: High unemployment and high inflation, what was known at the time as stagflation.

To calculate the misery index, you merely add up the two numbers: the unemployment rate plus the inflation rate over the past year.

In September, the unemployment rate was 5.1% and the inflation rate was zero, so the misery index dropped to 5.1%, the lowest it’s been since it was 4.7% in April 1956.

The misery index used to be a big deal.

Jimmy Carter used it to great effect in his campaign against President Gerald Ford in 1976, when the index was at 13.2 on Election Day. And naturally, Ronald Reagan turned the tables on President Carter in the 1980 election, when the index peaked at 22.0 in June 1980. Even Mitt Romney tried to reinvigorate the misery index in his 2012 campaign.
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