The misery index, a measure started under President Lyndon Johnson, is a simple measure combining the unemployment rate and the inflation rate.
The misery index spiked at the start of the COVID-19 lockdowns, jumping from 5.94 to over 15 in one month with the surge in unemployment.
The misery index has climbed each and every month that Joe Biden has been president.
Last month, the misery index hit 11.3, as the monthly inflation rate climbed to 5.4% while the unemployment rate edged up to 5.9%. That means the misery index is now higher than it has been since the Great Recession.
What's driving the current rise in the misery index?
The NFIB survey also found that "The net percent of owners raising average selling prices increased 7 points to a net 47%, seasonally adjusted, the highest reading since January 1981." That was right around when the misery index was at its Carter-stagflation-era peak.
The public might not be feeling the pinch of the misery index because checks from the government are acting as a temporary salve.
https://issuesinsights.com/2021/07/16/misery-index-is-on-the-rise-under-bidens-rescue-plan/
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