For Immediate Release


Toby Chaudhuri, (p) 202-955-5665,
Anne Thomspon, (p) 202-955-5665,

Campaign for Americas Future

New Jobless Numbers Push Misery Index Up to 11.7 Percent

Borosage: 'Misery Is Felt at the Gas Pump and the Grocery Store”'

WASHINGTON - The misery index hit the worst level since May 1991, according to a new analysis released today by the Campaign for America's Future. New jobless numbers jumped to a 5-year high of 6.1 percent, pushing the misery index to 11.7 percent. The index hit double digits in June 2008 for the first time since 1993.

"Honest people who work hard for a living are struggling to make ends meet," said Robert Borosage, co-director of the Campaign for America's Future. "The misery is felt at the gas pump and the grocery store and it's getting worse, not better."

The misery index is a gauge of economic well-being widely used by economists for decades. It represents the sum of the unemployment and inflation rates. Since unemployment and inflation are undesirable, the lower the index, the better.

The misery index played a role in the 1980 presidential election when President Reagan reminded voters that stagflation increased it to more than 20 percent. With unemployment and inflation on the rise, the misery index is important again.



--Unemployment rate: 6.1 percent

--Inflation rate: 5.6 percent

--Misery index: 11.7 percent



FRIENDS: Now More Than Ever

Independent journalism has become the last firewall against government and corporate lies. Yet, with frightening regularity, independent media sources are losing funding, closing down or being blacked out by Google and Facebook. Never before has independent media been more endangered. If you believe in Common Dreams, if you believe in people-powered independent media, please support us now and help us fight—with truths—against the lies that would smother our democracy. Please help keep Common Dreams alive and growing. Thank you. -- Craig Brown, Co-founder

Support Common DreamsSupport Common Dreams

Share This Article

More in: