D.C. ranks low on the 'misery index'
A bit of news that might take the edge off the heat and humidity that only promises to get worse:
The Washington Business Journal reports that Washington residents can claim one of the least miserable economies in the nation, based on one straightforward measure: the misery index, which combines inflation with unemployment.
The misery index in the Washington/Baltimore area currently stands as the second-lowest in the nation, according to data compiled by Bloomberg. Washington’s year-over-year inflation rate, at 1.95 percent, plus its current unemployment rate, 7.4 percent, yields a misery rate of 9.35 percent.
Among big cities, only Seattle currently has a lower misery index. Los Angeles and Detroit have the highest misery indexes among big cities, at 12.28 percent and 13.87 percent. The current national misery index is 10.55.
The misery index was developed by an economic adviser in the administration of President Lyndon Johnson according to the website miseryindex.us.
Posted by: Tess6 | July 22, 2010 5:48 PM | Report abuse
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