John Williams: Shadow Stat Misery Index Highest on Record

05-13-2011 • EconomicPolicyJournal.com

John Williams, over at Shadow Stats, compiles economic data for inflation and unemployment the way it used to be calculated pre-1990. Based on that data, the CPI inflation rate is over 10%, and the unemployment rate is over 15% (see charts). The Misery Index is the sum of the current inflation rate and the unemployment rate. If it were to be calculated using the older methods, the Index would now be over 25, a record high. It surpasses the old index high of 21.98, which occurred in June 1980, when Jimmy Carter was president. Most believe the height of the Index along with the Iranian hostage crisis is what caused Carter to lose his re-election bid. Using current calculation methods, April unemployment came in at 9.0% and the annualized April CPI number came in at 4.8%, for a Misery Index reading of 13.8. The last time the Index came in with a higher reading with this index reading was in March 1983, with a reading of 13.90.

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John Williams: Shadow Stat Misery Index Highest on Record

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