World’s Least Miserable Live in Asia, Thanks to Disinflation

The Land of Smiles really is the happiest place in the world, at least in terms of holding a job and keeping the rising cost of goods in check.

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 Bloomberg.

Singapore and Japan are close runner ups, with 1.40 percent and 2.70 percent, respectively. The U.K. ranks the 17th least miserable country while the U.S. takes 21st place. China follows closely in 23rd spot.

Venezuela is at the other end of the scale as plunging oil revenues have led to chronic shortage of food and medicine, and inflation running at 181 percent. With an index of 188.2 percent, the South American country is easily the “world’s most miserable” place. It is followed by Bosnia at 48.97 percent and South Africa with 32.90 percent.

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 0.4 percent increase in June.