Inequality: Nothing to see here is not the true picture


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The distribution of household wealth (mainly owner-occupied housing and superannuation savings) is most unequal of the three. It, too, has become a bit more unequal over the period.


Our rate of poverty (measured as people with incomes below half the median income) is no higher than it was 27 years ago.

Our rate of poverty (measured as people with incomes below half the median income) is no higher than it was 27 years ago.


Photo: Fiona Morris

But, particularly for income, inequality increased during the resources boom of the mid-noughties, then decreased in the years following the global financial crisis of 2008.


Over the 27 years, the disposable income of all households rose at an average rate of about 2.2 per cent a year in real terms.


The annual incomes of households in every decile (10 per cent group), from the bottom to the top, increased. It won’t surprise you that average incomes in the top two deciles rose by more than the economy-wide average. The top decile’s average income rose by more than 2.5 per cent a year.


Article source: http://smh.com.au/domain/domain-news/latest-news/splitting-a-block-in-two-things-to-consider-before-you-invest-20170220-guh4c4.html

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