Misery Index Dips to 6-Month Low in August

The Philippines’ adjusted misery index fell to 15.7% in August, the lowest in six months or since the 15.6% logged in February. It reflected easing in unemployment and adjusted underemployment rates that overtook the uptick in inflation rate for the month. The index, which now incorporates adjusted underemployment rate* alongside inflation and unemployment rates, offers a broader measure of economic discomfort. Originally developed by economist Arthur Okun, the misery index serves as a proxy for economic distress. A lower reading typically signals better economic health, though structural issues may still persist beneath the surface.