Miserable Euro area: Misery Index hovers at record high31 August, 2012, 19:15. Posted by Zarathustra
Tags: Euro Crisis
Unemployment rate in the Euro area remains record high in July, while inflation bounced back up for August to 2.6% yoy. The combination of unemployment rate and inflation shows how miserable Euro area is.
Misery index, created by economist Arthur Okun, adds unemployment rate and inflation rate together to measure how miserable an economy is feeling. At the moment, Euro area is at its most miserable, with Misery index standing at 13.7% for July.