From Wall Street Journal:



The Misery Index, which combines the unemployment and inflation rates, suggests that Americans shouldn’t be feeling too miserable. The index, invented by economist Arthur Okun, gained attention during the 1976 presidential election when Jimmy Carter highlighted its high level in his campaign against President Gerald Ford. However, when Carter ran for re-election in 1980, the index was even higher. This indicates that Americans may only recently have started to recognize their relatively low misery levels.

The Misery Index has been a key factor in past presidential elections, with candidates using it to highlight economic issues. The index’s prominence in the 1976 and 1980 presidential campaigns reflects the impact of economic indicators on political strategies. While the Misery Index has historically been a significant factor in political campaigns, its recent low levels suggest that Americans may be feeling less miserable than they have in the past.

As the Misery Index combines the unemployment and inflation rates to provide an overall economic indicator, its recent low levels may indicate that Americans are experiencing lower levels of economic hardship. This suggests that economic factors could play a significant role in shaping political attitudes and influencing future elections.



Read more: How Can Spending Be Up When People Feel Down?