Rich are richer, while the have-less struggle

The Australian Bureau of Statistics has just released a publication titled Household Income and Income Distribution, Australia, 2005-06 which reveals that 61 per cent of Australian households’ wealth is owned by the richest 20 per cent of households, while the bottom 20 per cent own just 1 per cent.

Key findings of the report show that:

  • the wealthiest 20% of households in Australia account for 61% of total household net worth, with average net worth of $1.7 million per household
  • the poorest 20% of households account for 1% of total household net worth, with an average net worth of $27,000 per household
Access the full content of this publication here. Check today’s issue of The Age for an article by Daniella Miletic about this publication and the increasing divide between the rich and the poor in Australia.

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