The “misery index” was created by economist Arthur Okun. To calculate the current “misery index”, simply add the current unemployment rate with the current rate of inflation. So, if the unemployment rate is currently 8.8% and the rate of inflation is 3.1%, then the misery index will be 11.9 (8.8 + 3.1 = 11.9).Click to see full answer. Herein, what is the misery index supposed to measure?The misery index is the sum of a nation’s unemployment and inflation rates over a given period. It is an unofficial measure of the state of a country’s health. The higher the index the worse off an economy is, while the lower the index the better the country’s economic situation. what is the misery index based on? The misery index is an economic indicator, created by economist Arthur Okun. The index helps determine how the average citizen is doing economically and it is calculated by adding the seasonally adjusted unemployment rate to the annual inflation rate. Keeping this in view, what are the three elements of the Misery Index? Hanke’s modified annual misery index is the sum of unemployment, inflation, and bank lending rates, minus the change in real GDP per capita.What is a 100 on the Misery Index?The misery index is a 1-100 scale, a panel of mental health professionals give each event a number based on three “pillars of misery”: Physical pain, emotional trauma, and long-term psychological impact.
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