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1370.0.55.001 - Measures of Australia's Progress: Summary Indicators, 2012  
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 09/10/2012   
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Household economic wellbeing

Graph Image for Average real equivalised disposable household weekly income(a)

Footnote(s): (a) Base year is 1999-2000 and equals 100. In 2009-10 dollars, adjusted using changes in the Consumer Price Index. (b) People in the 2nd and 3rd deciles after being ranked, from lowest to highest, by their equivalised disposable household income. (c) People in the middle income quintile (5th and 6th deciles) after being ranked, from lowest to highest, by their equivalised disposable household income.

Source(s): ABS data available on request, 1999-2000 to 2009-10 Surveys of Income and Housing

Household economic wellbeing is largely determined by a household's command over its economic resources and, in turn, its ability to maintain a minimum material standard of living. Household economic resources provide the means through which households fund their consumption of goods and services. The economic resources of income (both in the form of receipts and as the direct provision by government of goods and services, such as free or subsidised healthcare) and wealth, and the availability of both to fund consumption, can be used to measure household economic wellbeing and progress.

For most people the level of income that they and other family members receive is a major determinant of household economic resources. People living in households with low income may be less likely to have sufficient economic resources to support an acceptable material standard of household living.

The average real equivalised disposable (after income tax) household weekly income of low income households and middle income households rose between 1999-2000 and 2009-10, up by 38% for both groups, peaking in 2007-08 and remaining steady to 2009-10. However, part of this increase reflects improvements to the way income is measured (Endnote 1)(Endnote 2).

For a more in-depth discussion about how household economic wellbeing relates to progress, please see the Household economic wellbeing chapter in Measures of Australia's Progress, 2010 (cat. no. 1370.0).

ENDNOTE

1. Estimates presented for 2007–08 and 2009-10 are not directly comparable with estimates for previous cycles due to the improvements introduced in the 2007–08 cycle for measuring income . Estimates for 2003–04 and 2005–06 have been recompiled to reflect the new measures of income, however not all components introduced in 2007-08 are available for earlier cycles.
2. Updated data for this indicator is not yet available, and is unchanged from MAP 2011.

 

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