Despite the occasional sad state of affairs in Singapore (others may disagree), the country scores positively on the Misery Index.
Considering that the misery index is the sum of the unemployment rate, the lending rate as well as inflation rate minus the percent change in real GDP per capita (ie; hard economic indicators), the little red dot obviously flourishes on the list.
But for years, Singapore remained as the second least miserable economy, trailing behind Thailand, whose unique structural issues allow more people to count as employed. Bloomberg however reported on Monday that this is no longer the case — Singapore has taken pole position after dropping below Thailand on the Misery Index. What this means is that the city-state has the lowest combination of consumer-price inflation and unemployment in the world. We’re the least economically miserable apparently, but alas, affairs of our miserable hearts and minds can never be charted.
Venezuela retains the title of being the most miserable economy this year thanks to crazy inflation.
