Misery index climbs to 2-month high in September

The Philippine’s adjusted misery index climbed to a two-month high of 16.2% in September from 15.7% in August. While this may have reflected an improvement in the jobless rate, it also showed underemployment rate, the share of workers seeking more jobs, worsening. 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 destress. A lower reading typically signals better economic health, though structural issues may persist beneath the surface.