ALP inequality claims sunk

August 29, 2018roymorgansocial Leave a comment

Original article by Adam Creighton
The Australian – Page: 1 & 6 : 29-Aug-18

The Productivity Commission has released a report which concludes that inequality in Australia has not increased significantly over recent decades. The report found that real incomes increased by an average of more than two per cent annually between 1989 and 2016. Chairman Peter Harris says all income groups have benefited to some extent from Australia’s economic growth over the last 27 years. However, he notes that nine per cent of Australians are living in poverty. Shadow treasurer Chris Bowen claimed in 2017 that income inequality was at its highest level in 75 years.

CORPORATES
AUSTRALIA. PRODUCTIVITY COMMISSION, AUSTRALIAN LABOR PARTY, COMMITTEE FOR ECONOMIC DEVELOPMENT OF AUSTRALIA, NATIONAL PRESS CLUB (AUSTRALIA), UNIVERSITY OF MELBOURNE. INSTITUTE OF APPLIED ECONOMIC AND SOCIAL RESEARCH

Half of minimum wage workers are rich

February 8, 2018roymorgansocial Leave a comment

Original article by Jacob Greber
The Australian Financial Review – Page: 3 : 8-Feb-18

An analysis of Household Income & Labour Dynamics in Australia data by the Melbourne Institute has concluded that 13 per cent of people on the minimum wage live in households that have the nation’s highest incomes. The analysis suggests that a large proportion people on the minimum wage are students in the 21-34 age group and in many instances live with their parents. The Melbourne Institute also concluded that just 21 per cent of workers live in households for which the minimum wage is the sole source of income.

CORPORATES
UNIVERSITY OF MELBOURNE. INSTITUTE OF APPLIED ECONOMIC AND SOCIAL RESEARCH, AUSTRALIAN LABOR PARTY

Nation ‘more equal than the 70s’

August 3, 2017roymorgansocial Leave a comment

Original article by Rachel Baxendale, David Uren
The Australian – Page: 2 : 3-Aug-17

The Melbourne Institute’s Roger Wilkins has disputed claims by Federal Opposition Leader Bill Shorten than inequality in Australia is at its highest level in 75 years. Professor Wilkins is the author of the Household Income and Labour Dynamics in Australia (HILDA) study, which found that average living standards across all income groups have increased since the annual survey began in 2001. He suggests that equality in Australia is now higher than it was four decades ago.

CORPORATES
UNIVERSITY OF MELBOURNE. INSTITUTE OF APPLIED ECONOMIC AND SOCIAL RESEARCH, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, GRATTAN INSTITUTE

Typical family earns less than 2009 income

August 2, 2017roymorgansocial Leave a comment

Original article by Peter Martin
The Age – Page: 10 : 2-Aug-17

Analysis of data from the Household Income and Labour Dynamics in Australia (HILDA) survey shows that median real household disposable income was $A76,225 in 2015, compared with $A77,411 prior to the onset of the global financial crisis. The data also shows that the typical household income in Melbourne has increased by $A9,785 since the annual HILDA survey began in 2001, while typical household income in Sydney has risen by just $A5,182 over the last 15 years.

CORPORATES
UNIVERSITY OF MELBOURNE. INSTITUTE OF APPLIED ECONOMIC AND SOCIAL RESEARCH, AUSTRALIA. DEPT OF SOCIAL SERVICES

The rise of the female breadwinner

March 7, 2017roymorgansocial Leave a comment

Original article by Roy Morgan Research
Market Research Update – Page: Online : 7-Mar-17

A Roy Morgan Single Source Survey has found that 52 per cent of Australian women reported being the main breadwinner in their household in the year to December 2016. This compares to just 39 per cent in 2006. The percentage of men who said they were the main income earner in their household has barely changed in 10 years (74 per cent in 2016 compared to 73 per cent in 2006). The main factor behind the increased percentage of women who are earning their household’s main income is the sharp jump in the average income being earned by females in full-time employment since 2006; up from $A51,000 to $A73,500.

CORPORATES
ROY MORGAN RESEARCH LIMITED

Mortgage payments steady as rates rise

January 11, 2017roymorgansocial Leave a comment

Original article by Michael Bennet
The Australian – Page: 17 : 11-Jan-17

Data from Deutsche Bank shows that Australians’ home loan repayments now comprise around 17 per cent of their income, which is consistent with the average over the last three decades. The figures also show that mortgage payment account for 63.6 per cent of Sydney borrowers’ weekly income, compared with 45.3 per cent in Melbourne and just 27.3 per cent in Perth. Meanwhile, Paul Bloxham of HSBC says the residential construction boom is nearing its peak.

CORPORATES
DEUTSCHE BANK AG, HSBC AUSTRALIA HOLDINGS PTY LTD, RESERVE BANK OF AUSTRALIA, AUSTRALIAN BUREAU OF STATISTICS, SUNCORP GROUP LIMITED – ASX SUN, ING DIRECT, DIGITAL FINANCE ANALYTICS

High incomes run up relatively less debt on major cards

December 13, 2016roymorgansocial Leave a comment

Original article by Roy Morgan Research
Market Research Update – Page: Online : 13-Dec-16

A Roy Morgan Single Source survey has found that Australians aged 18+ who hold major credit cards (Visa, MasterCard and Amex) intended to carry forward to their next statement a combined average monthly debt of $A19bn in the year to October 2016. The survey also shows that people on annual incomes of under $A25,000 carry forward $A1,100 on average (8.9 per cent of their income). For the highest income group of $A250,000+, the average debt was $A2,500, or 0.9 per cent of their average income. The largest cardholder segment, with just over a third of the market (33.7 per cent), is the $A25,000 to $A59,000 group. Their average debt is $A1,400, or about 3.5 per cent of their average income.

CORPORATES
ROY MORGAN RESEARCH LIMITED, VISA INTERNATIONAL, MASTERCARD AUSTRALIA LIMITED, AMERICAN EXPRESS COMPANY

Trade surge could cut $23b from deficit

October 14, 2016roymorgansocial Leave a comment

Original article by Jacob Greber
The Australian Financial Review – Page: 4 : 14-Oct-16

Australia’s 2016-17 Budget deficit is forecast to be $A63.2bn, but analysis shows that a sustained rise in commodity prices could slash the deficit by around $A23bn. The prices of coking coal, thermal coal and iron ore have risen sharply since August 2016, and Commonwealth Bank economist Kristina Clifton says the nation’s terms of trade would improve if prices remain at around current levels for the next six months. She adds that this would also have a flow-on effect on household incomes.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA. DEPT OF THE TREASURY, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

Tall tales: the curious connection between height and income

September 16, 2016roymorgansocial Leave a comment

Original article by Roy Morgan Research
Market Research Update – Page: Online : 16-Sep-16

A Roy Morgan Single Source survey, which was carried out in the year to June 2016, has found that the average height of Australians aged 14+ is 170cm (5’7"). However, the average height of people who earn $A200,000 or more is 176cm (just over 5’9"), while the average height of those on incomes below $A30,000 is below the population average at 168cm (5’6"). The survey also shows that while the average height of Australian men is 176cm, men earning $A200,000+ have an average height of 179cm (just under 5’11"). In contrast, men whose income is under $A30,000 are shorter, averaging 176cm. Meanwhile, the average height of women earning $A40,000-$A49,999 is 163cm (5’4"), but this creeps up to an average of 166cm (just over 5’5") among those on incomes of between $A110,000 and $A199,999.