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Inequality rising in Australia
INCOME and wealth are increasingly unequally distributed in Australia. That’s according to the latest Australian Council of Social Services report Inequality in Australia: A Nation Divided.
ACOSS CEO Dr Cassandra Goldie said “it should be a concern to us all that despite more than 20 years of unparalleled economic growth, we have allowed complacency to blind us to the need to ensure the benefits of growth and prosperity are shared by everyone”.
Key findings included:
* Wages growth was very unequal over the past 17 years, increasing income inequality
* People in Tasmania are more likely to be in bottom 20% of income earners
* A person in the top 20% receives around 2.5 times the wages and salary income of the middle 20%, and the middle 20% receives eight times the wage and salary income of the bottom 20%.
* Hourly wages have grown faster for high income earners than for low income earners.
* A number of groups were over-represented in the bottom 20% including people aged 65 and over, single person households, sole parent households and people from a non-English speaking country.
Find the report here.