Thursday, September 16, 2010

How Australians have got it better the last decade

The new data ABS released today:

  • Health: During the past decade Australia's health improved - children born in 2009 were expected to live two to three years longer than those born in 1999.

  • Education and training: During the past 10 years, the Australian population became more educated - between 1999 and 2009 the proportion of people with a vocational or higher education qualification rose from 49% to 63%.

  • Work: Despite the recent economic downturn, Australia's annual average unemployment rate was lower in 2009 (5.6%) than in 1999 (6.9%).

  • National income: Australia experienced significant real income growth during the past decade. Between 1998-99 and 2008-09, real net national disposable income per capita grew by 2.6% a year.

  • National wealth: National wealth, as measured in Australia's balance sheet, grew over the last decade. Real national net worth per capita increased by about 0.9% a year between June 1999 and June 2009.

  • Household economic wellbeing: In the decade to 2007-08, the real average household income of low income Australians grew by 41%.
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