Global Power | Local Knowledge | Uniquely Personal
中文

Australian households recover f...

Australian households recover from financial crisis

An ABS survey shows Australian household income is recovering from the financial crisis.

Australian household incomes are on the rise again, despite having stalled during the financial crisis.

According to Australian Bureau of Statistics (ABS) Survey of Income and Housing, household incomes were showing signs of recovery in 2011 - 2012. On average, households had a disposable income of $918 per week.

Director of household economic resource surveys at the ABS Stephanie Cornes said: "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."

She added that the average income for households in capital cities tended to be 21 per cent higher.

Households across the globe saw their budgets tightened during the global financial crisis of 2008 - 2009. Many saw wages freeze despite inflation within their home countries rising considerably and a number of these have yet to see domestic income recover.

Posted by Craig Francis

All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.

Subscribe Now