4725.0 - Aboriginal and Torres Strait Islander Wellbeing: A focus on children and youth, Apr 2011
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 23/05/2012 Reissue
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INCOME AND ECONOMIC RESOURCES
This article is part of a comprehensive series released as Aboriginal and Torres Strait Islander Wellbeing: A focus on children and youth.
Note: In this chapter, the terms 'youth' and 'young people' refer to people aged 15–24 years. Data presented are from the ABS National Aboriginal and Torres Strait Islander Social Survey, 2008 (cat. no. 4714.0).
A major determinant of economic wellbeing for most people is the level of income they and other family members in the same household receive. Income is a fundamental financial resource allowing individuals and households to meet everyday living expenses. Income can be obtained from a wide variety of sources, not only wages and salaries. Household income is one of the main measures used when analysing income distribution (for more information see Household Income and Income Distribution, Australia, 2009-10, Explanatory Notes 14-16, cat. no. 6523.0). The level of access and control individuals and households have over their income and other economic resources can provide an indication of their standard of living and social wellbeing.
This article examines types of financial stress Aboriginal and Torres Strait Islander youth may have experienced and the characteristics of young people receiving personal income.
The Framework for Measuring Wellbeing: Aboriginal and Torres Strait Islander Peoples, 2010 (cat. no. 4703.0) identifies income and economic resources as one of the domains that contributes to Aboriginal and Torres Strait Islander wellbeing.
Topics covered in this article include: