The Philippines’ adjusted misery index eased to 22.6% in August from 24.3% in July, its lowest level in five months or since the 20.8% recorded in March. The decline came as unemployment fell to 5.3%, adjusted underemployment* eased to 11.2%, and inflation slowed to 6.1%. The index, which now incorporates the adjusted underemployment rate alongside inflation and unemployment rates, offers a broader measure of economic discomfort. Originally developed by economist Arthur Okun, the misery index serves as a proxy for economic distress. A lower reading typically signals better economic health, though structural issues may persist.
