Australians Feeling Poorer Despite Income Gains
Update: 2025-12-07
Description
Australians are experiencing a paradox: despite a 35% increase in real household incomes since 2001, they feel poorer due to inflation outpacing wage growth. Essentials like housing, insurance, and childcare have surged, leaving many strained. The HILDA survey reveals that while people can cut back on non-essentials, unavoidable costs like rent and childcare remain a burden. Rising childcare costs are due to increased demand from working women and fewer unpaid carers. Rent pressures are high due to population growth and slow construction. Insurance costs are climbing due to extreme weather events. Australians are working longer, with fewer retiring between 60-64, partly due to the pension age increase and longer life expectancy. This trend creates a two-tier retirement system, with homeowners retiring with significant wealth and renters relying heavily on the age pension.
The Daily News Now! - Every city. Every story. Powered by AI.
Hosted on Acast. See acast.com/privacy for more information.
Comments
In Channel
Download from Google Play
Download from App Store
United States00:00
00:00
x
