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Household incomes recovering after global financial crisis
Income in low and middle income households grew by over four per cent between 2009-10 and 2011-12, according to a report released today by the Australian Bureau of Statistics (ABS).
"Growth in household income stalled after the global financial crisis," said Stephanie Cornes, Director of Household Economic Resource Surveys at the ABS, "but figures from 2011-12 released today show that household incomes are recovering."
"Low income households have seen an increase of five per cent from 2009-10, and middle income households have seen an increase of four per cent. High income households have been fairly stable, with no significant growth."
"Overall, the share of total household income received by low and middle income households has grown since 2007-08, while the share received by high income households has fallen. These results are reflected in more equal incomes across Australian households since 2007-08," Ms Cornes said.
The ABS Survey of Income and Housing showed that in 2011-12 the average Australian household had a weekly disposable household income of $918 and received their main income from wages and salaries.
Ms Cornes said that "average household incomes in capital cities were 21 per cent above those outside metropolitan areas. Average incomes in the ACT, Western Australia and the Northern Territory were well above the national average, while Victoria, South Australia and Tasmania were below the national average."
Ms Cornes also said that "since the combination of income and wealth impact on material wellbeing, it will be important to also consider the detailed household wealth results which will be released in August 2013."
More details are available in the 2011-12 issue of Household Income and Income Distribution, Australia (cat. no. 6523.0) available for free download from the ABS website at www.abs.gov.au.
Please ensure when reporting on ABS data that you attribute the Australian Bureau of Statistics (or ABS) as the source.
Average weekly disposable household income (or average weekly household income) is calculated after tax and adjusting for household size and composition, and historical estimates used for comparison are CPI adjusted.
Low income households are those in the second and third income deciles. Middle income households are those in the third income quintile. High income households are those in the highest income quintile.
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