Income And Wealth Distribution In Australia

Household income and wealth distribution to analyse the way that income and wealth are shared across households in australia households are ranked from lowest to highest income or wealth and then divided into five equal groups with 20 of the population in each group quintiles.

Income and wealth distribution in australia. Australia has been experiencing an increasing gini coefficient meaning increased income inequality over the 4 5 years leading to 2008. Overall these figures suggest that wealth is concentrated among a small proportion of the population with high incomes. While the average australian household has a net wealth of 1 022 200 households in the highest quintile have an average net wealth more than three times this 3 236 800. There are many causes that lead to an unequal distribution of income and wealth.

Australia s income and wealth distribution the average household annual income is 116 584 and the national average household net wealth has tipped the million dollar mark for the first time at 1 022 200 according to the abs latest survey of income and housing 2017 18. With higher wealth and income levels than ever are we any better off. The top 20 per cent of households have 93 times the wealth of the bottom 20 per cent. In 2007 08 and 2009 it recorded a gini coefficient of 0 331.

Accumulated earnings are best represented by net wealth and this is where the changing economic landscape of australia is presented even more dramatically. There evidently exists an intimate relationship between who owns what and who gets what. The average net worth of the top 20 per cent of households is more than 93 times that of the lowest 20 per cent some 3 2 million compared to just 35 200.