It is hard to find the words which will adequately describe the mood of Mr. Angry during this last week. He has been ecstatically reading the latest readings of ‘The Misery Index’.
This is an economic indicator created by US economist Arthur Okun in the 1960s. It adds together the rates of inflation and unemployment. Last week the first rose to 8.1% (the highest level since 1994). The 2.57m people out of work is somewhat better than the 9.35m who are classified by the Office for National Statistics (“ONS”) as ‘economically inactive.’ The ONS describes this as referring to those who “have not been seeking work and/or they are unable to start work.”
The Index is now at a 19-year high. But better news follows for Mr. Angry. It has yet to peak because nobody thinks the Bank of England really knows where inflation is going and the economic outlook is so bad that more and more workers are likely to lose their jobs.
“It’s a dream come true” said Mr. Angry this week. “I love the thought that everybody is as miserable as I am.
Mr. Angry also thinks he might start the ‘Mr. Angry Index’. It is calculated by dividing ‘The Misery Index’ by Dave’s (ie. the PM) ‘Happiness Index’. A reading of over 10 mandatorily means the PM has to resign.
What a marvellous thought.