Misery index worsens in October

The Philippines’ adjusted misery index hit a three-month high of 18% in October from 16.2% in September. This was the highest recorded since the 20.2% in July. Despite steady inflation in October, the jobless rate and underemployment rate climbed to a three-month high, which contributed to the worsening of the misery index. 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.