The indicator that sums a country's unemployment rate and inflation rate is the Misery Index.
The basic Misery Index was created by economist Arthur Okun to approximate the economic discomfort associated with joblessness and rising prices. Its traditional formula adds the seasonally adjusted unemployment rate to the annual inflation rate. For example, unemployment of 6% combined with inflation of 4% would produce a Misery Index reading of 10.
A higher value is conventionally interpreted as worse economic conditions, although the index is a rough summary rather than a complete measure of well-being. It does not account for income growth, taxes, inequality, public services, or how strongly households experience inflation and unemployment. The index also has variations. Robert Barro's Barro Misery Index adds interest rates and compares economic growth with its trend, while Steve Hanke developed a broader version incorporating per-capita GDP growth. The Misery Index should therefore be distinguished from the Gini coefficient, which measures inequality, and the Human Development Index, which combines wider measures of living standards.