Thailand is the world’s least miserable economy for 2016

[webfact]

Thailand is the world’s least miserable economy for 2016

 

 

BANGKOK: -- Thailand is ranked the least miserable country for the second year in a row out of a total of 74 economies surveyed by Bloomberg.

 

The Misery Index which was computed by adding inflation to the unemployment rate gave Thailand a score of 1.11 percent which is regarded as the best.

 

This year’s runner-ups are Singapore and Japan which scored 1.40 and 2.70 percent respectively. The UK ranks the 17th least miserable country while the US is ranked the 17th with China being placed on the 23rd spot.

 

Venezuela is at the other end of the scale scoring 188.2 percent making the country the world’s most miserable place as a result of plunging oil revenues which have led to food and medicine shortages.

 

Unemployment rate in Thailand was about one percent at the end of June while its consumer price index rose 0.1 percent year-on-year in July compared to 0.4 percent increase in June.

 

However, Bloomberg noted that it is not all roses for Thailand. Slowing inflation, though welcome for consumers, may signal a less than healthy economy.

 

Disinflation is a sign that demand for goods and services is insufficient to match supply in the economy.

 

Source: http://englishnews.thaipbs.or.th/thailand-worlds-least-miserable-economy-2016/

 

-- © Copyright Thai PBS 2016-08-09

[PatOngo]

...........and they all smiled and said "Yessss".

[Somtamnication]

That can be the new TAT logo:  "We hab new constitionship, come satay in Thailand. We happy happy! "

[taichiplanet]

1 hour ago, webfact said:

The Misery Index which was computed by adding inflation to the unemployment rate

so in reality it is just the Thai mathematics that is least miserable, as no actual humans wre asked!

[JAG]

so in reality it is just the Thai mathematics that is least miserable, as no actual humans wre asked!

If you then divide that figure by the square root of my postcode you will see how truly enlightened and indeed euphoric the people at the top of the economy are...

[Rorri]

Considering if you do one days work, in your own paddy, you are considered "employed" hard to consider this in any reliable unemployed  stats, but hey, this is Thailand where lies before truth reign supreme. What's wrong with a white lie when it makes people feel better, and makes Thailand a laughing joke, oop makes Thailand look better, than it really is.

[clockman]

As a former minister said, white lies are ok!

[Mickmouse1]

Well as it always on the rise culminating  a big bang-kok with Happy Ending for all

[tx22cb]

Data from the Thai Government is about as believable as the results from Russian Drug-testing labs.

[DrTuner]

The usual <deleted> with every Somchai who bothers to get out of his hammock once a year counted as 'employed'.

[does]

Oh no! The Thailand bashers will be out in force.

[mcfish]

With the most miserable expats, they forgot to add it..

Sent from my SC-01D using Tapatalk

[scotchonrocks]

"Least miserable" What a fu2kin' oxymoron!

 

No prizes for guessing the assumptions and measurement criteria for this survey! 

 

Tongue in cheek!

[arrowsdawdle]

Guess if you count the slave labor on ships and in shrimp sheds, unemployment could be 1%.

[arrowsdawdle]

"Least miserable," hooray, we're not last!

[madmitch]

I'm never quite sure where their inflation figures are derived from as everything I buy seems to rise in price constantly. 

 

And as for the unemployment level.................

 

Happiness has been returned to the people, officially.

[Jimbo2014]

I thought North Korea was the happiest economy in the world! - you mean Im misinformed, now its Thailand??  

[denkiblue555]

And who wouldn't be happy after their democratically elected leaders have been removed and replaced with military dictatorship? 

[denkiblue555]

EDIT: double post

Edited August 9, 2016 by denkiblue555

[Lupatria]

It is estimated there are 500.000 food seller in Bangkok alone. Most of them do this because they are not qualified to get a real job and they are also not qualified to claim unemployment money. The same applies to hundreds of thousand motorbike taxi jockeys and over 100.000 official sex worker in the country. And Bloomberg's statistician count these people as 'not unemployed'? It looks like they are applying for a contract to become the spin doctors for North Korea. 

[Deepinthailand]

Good job they don't include most farangs on this forum then.would be bottom of the most misreble list

[trogers]

9 minutes ago, Lupatria said:

It is estimated there are 500.000 food seller in Bangkok alone. Most of them do this because they are not qualified to get a real job and they are also not qualified to claim unemployment money. The same applies to hundreds of thousand motorbike taxi jockeys and over 100.000 official sex worker in the country. And Bloomberg's statistician count these people as 'not unemployed'? It looks like they are applying for a contract to become the spin doctors for North Korea. 

 

When is self-employed considered unemployed?

 

And many of these self-employed are neighbors of farang living in apartments...

 

They are qualified to do what they do, and that's what matters. Misery is when you are forced to do what you are not qualified for, or unhappy in doing...

[Krataiboy]

The least miserable economy?  I guess this is the best they can do with the world teetering on the brink of a financial collapse which will make the events of 2008 look like a vicarage tea party.

[keskeseksa]

Are the usual grumbling Thai Visa contributors included? 

[Tonawatchee]

If that statement is true, where then are all the smiles. The entire kingdom should just be one big happy face.

[Rorri]

2 hours ago, does said:

Oh no! The Thailand bashers will be out in force.

Oh no! Anyone with nothing to say... but feels the need to.

[Rorri]

20 minutes ago, keskeseksa said:

Are the usual grumbling Thai Visa contributors included? 

As a "grumbling" Thai Visa contibutor perhaps you can answer your own question.

[mfd101]

Am I right in thinking that there's probably no unemployment benefit so why would anyone bother to register?

 

Which would suggest that the near-zero unemployment figure may actually be accurate, whilst of course completely misleading.

 

In my village the able-bodied people between, say, 15 and 60 would be mostly either unemployed with no visible means of support or at least 50% UNDERemployed (ie odd-jobbers).

 

 

[starchild5]

As a third world Asian guy. I agree with this. Only roadblock to happiness for an Asian guy is JOB. Asian's are family first oriented society. We are happy with our family and if we have a job and can provide to our families, nothing else really matters, we would be least miserable.

 

Now, unlike, Western societies, where one derives happiness through Mountain Climbing, Circumnavigating the world, Scuba diving, Balloon Travel, Sky diving, Base Jumping, Visiting Thailand, Foodie, Vegan, Pyramids etc...We don't roll this way.

 

Thai's are the least interested to immigrate to west, because they have a job right here in Thailand unlike Indians, Chinese, Filipinos etc. 

 

For an Asian..Its only the JOB matter for happiness...We don't need surfing, base jumping, to make us happy.

 

Give me 10, 000 THB/Month Job and see me super happy and never wanting to go to America. 

 

 

[oldsailor35]

Who thinks up this bullshit.  Thailand really is a third world country with massive unemployment, a failing economy with an unelected self appointed government where its population are not allowed to meet in groups and debate the political situation for fear of arrest. And a hotbed of corruption at all levels.