CNBC

When it comes to measuring the combination of unemployment and inflation, it doesn’t get much more miserable than this.

In fact,
misery, as measured in the unofficial Misery Index that simply totals
the unemployment and inflation rates, is at a 28-year high, reflective
of how weak the economic recovery has been and how far there is to go.

The
index, first compiled during the soaring inflation days of the 1970s by
economist Arthur Okun, is registering a nausea-inducing 12.7—9.1
percent for unemployment and 3.6 percent for annualized inflation—a
number not seen since 1983. The index has been above 10 since November
2009 and had been under double-digits from June 1993 through May 2008…

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