Despite being one of the most developed nations in the world, Australia has not been immune from the
, resulting in increasing risks of homelessness and food insecurity. In addition, the growing
, particularly between the older and younger generations, means more people have become reliant on government social welfare in the form of rental assistance or income supplements. Many
Income, wealth inequality, and food security in Australia
The average income in Australia has been slowly rising over the years, with the
weekly income in the private sector for males averaging around 1,600 Australian dollars, and roughly 1,100 Australian dollars for females. These wages however, have not been able to keep up with the increased
household expenditures, with the average weekly rent costing households around 500 Australian dollars. These rental prices have contributed to a growing inequality of wealth within the country, with 66 percent of
wealth generated by real estate being held by the wealthiest ten percent of the population. The increased cost of living has also affected
food security in Australia, with a survey conducted in 2023 reporting that almost a quarter of respondents had experienced severe food insecurity.
Government assistance and homelessness
The growing financial stress faced by Australians is reflected in the increased
government expenditure on social security and welfare, with almost all programs expected to receive increased budgets over the next few years. The cost of rents has also driven an increase in the amount of
occupied community house dwellings in the country, with most states nearing 100 percent occupancy. The current financial burdens have left around 60,000 people accessing social services at
risk of homelessness, with a further 36,000 thousand Australians experiencing
persistent homelessness in the nation. It can be hoped that with improved budgets for social services and more government focus on the cost of living and rental crises, over the long term Australia can see lower levels of poverty and a higher level of wealth equality.
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