BY MEHMET KAYA
The TOBB ETU Center for Social Policy Research’s (SPM) Misery Index rose by 6.2 points from 104.3 points to 110.5 points in April month-over-month.
The SPM also redesigned the Misery Index, which is measured by adding the nation’s annual inflation and unemployment rates and is considered an indicator of difficulty of life in Turkey. They also extended the index’s scope by using the integrated rate of the potential labor force. The Extended Misery Index (GSE) increased by 4.7 points from 114.1 points to 118.8 points in April, compared to the previous month. The GSE surged by 11.2 points in April on an annual basis.
The new GSE includes unemployed groups, which aren’t reflected in statistics, but experience economic difficulties and the difficulties caused by unemployment, as well as those who are ready to work despite not seeking a job. The GSE ranks higher than the classic Misery Index, according to a statement from the SPM. The GSE has exceeded the classic Misery Index since March 2020, when pandemic restrictions started. Although the GSE sharply declined in February 2022 with the base effect, inflation continued to increase in the same period.
