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Singapore is second happiest country in the world: Bloomberg Misery Index

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                                            According to the latest Bloomberg Misery Index which combines the inflation and unemployment rates in 74 countries, Singapore is the second happiest place in the world.

Singapore is second happiest country

The Miserable Index:-

  • The Misery Index, computed by adding inflation to the unemployment rate, gives Thailand a score of 1.11 percent, which is the best – or least miserable – for all 74 economies surveyed by Bloombe
  • Singapore is the second happiest place in the world as per this index report. Singapore and Japan are close runner ups, with 1.40 percent and 2.70 percent, respectively.
  • The overall seasonally adjusted unemployment rate in Singapore stood at 2 per cent. In June, consumer prices entered the 20th month of decline, with the fall attributed to lower housing maintenance-related costs.
  • It is noted that Thailand’s unemployment rate was around one percent at the end of June, while its consumer price index rose 0.1 percent year-on-year in July versus a 4 percent increase in June.
  • Disinflation is a sign that demand for goods and services is insufficient to match supply in an economy and it encourages consumers to delay purchases until goods become cheaper, further lowering demand. In this deflationary spiral, wages will drop.

Some important Rankings:-

  • Thailand – 1st
  • Singapore – 2nd
  • China – 23rd
  • UK – 21st

The following table shows the raging of least miserable to highly miserable countries:-

S. No Country Miserable Index Percent
1 Thailand 1.11
2 Singapore 1.4
3 Japan 2.7
4 Switzerland 3
5 Iceland 3.5
6 Kazakhstan 22
7 Egypt 25
8 South Africa 33
9 Bosnia 49
10 Venezuela 188.9

Singapore: 

  • Currency: Singapore dollar
  • Prime minister: Lee Hsien Loong