IN ONE CARD
Shocker, this is not.
Given the number of sick and unemployed people circling the battered US economy, the latest results from Bloomberg’s Misery Index, which “relies on the age-old concept that low inflation and unemployment show how well people feel,”
The United States dropped a whopping 25 points – more than any other country – to №25 on the index. Only Iceland, Israel and Panama have even come close to this level of deterioration, Bloomberg reported.
Here’s a look at the upper and lower inhabitants of the list:
As you can see, Venezuela, Argentina, South Africa and Turkey occupy their places as the four most miserable economies in the world. Venezuela, with its inflation figures, has taken the dubious award at the top of the list for six years.
Of course, 2020 was a rough year for everyone, with almost every country on the list being more unhappy than the previous year amid expectations of rising unemployment and weak growth.
But it was obviously rougher for the United States, given China, where the coronavirus was first controlled, saw its position improve by seven spots to be seen as less unfortunate.
Rare news broke on Thursday, with initial unemployment claims falling from 249,000 in early August to 1.19 million to reach their lowest level since the pandemic began more than four months ago. The immersion came as a surprise and suggests that we are seeing some improvement in the labor market, despite another surge in coronavirus cases in many states.
And lately there is not much misery in the stock market, as the main indices show a lot of strength in recent sessions. In the last check, the Dow Jones Industrial Average (DJIA) and the techno-heavy Nasdaq Composite (COMP) again moved higher in trading on Thursday, while the S&P 500 (SPX) remained essentially flat.
Video: Data quirk increases coronavirus-free numbers by 3.7M (Fox Business)