- Median household income in Australia and New Zealand
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Median household income is commonly used to measure the relative prosperity of populations in different geographical locations. It divides households into two equal segments with the first half of households earning less than the median household income and the other half earning more.
Since 2000 household incomes in Australia and New Zealand have been growing rapidly and in 2007 incomes were comparable to those in the United States.
New Zealand and Australia are gradually being economically integrated through a process known as “Closer Economic Relations (CER)”. Their citizens are free to travel, live and work in either country. Information about their relative median household incomes is of interest, especially for those considering migration.
Median household income in 2007-8
Income data for each state (or territory) has been converted to US dollars using Purchasing Power Parity for private consumption [1]. This is done because it provides a more accurate and stable assessment of the true value of citizens' incomes in diverse countries.
Population Median household income (local currency) Median household income (PPP US$) Australian Capital Territory 324,034 A$91,624 $61,188 Northern Territory 192,898 A$86,788 $57,853 Western Australia 1,959,084 A$72,800 $48,206 Queensland 3,904,532 A$68,276 $45,086 Victoria 4,932,422 A$66,872 $44,188 Australia 19,855,328 A$66,820 $44,820 New South Wales 6,549,177 A$66,820 $44,820 New Zealand 4,100,000 NZ $67,973 (Average not Median)[1] $45,541 South Australia 1,514,377 A$55,848 $36,515 Tasmania 476,481 A$50,700 $32,965 Main source: Australian Bureau of Statistics, Household Income and Income Distribution, Australia 2007–08 .[2] Note : The NZ figure is Average Household Income and not Median Household Income. No source for Median Income found. The figure for NZ Median Household Income is likely to be slightly less. Note: GDP per capita cannot be used to predict median household income (See median household income).
See also
- Median household income
- Australian economy
- List of Australian states and territories by gross state product
- Homelessness in Australia
- Poverty in Australia
- Home ownership in Australia
References
- ^ "Average household income stays just above inflation". The New Zealand Herald. 1 December 2007. http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10479424. Retrieved 12 September 2011.
- ^ "Household Income and Income Distribution, Australia, 2007–08". 20 August 2009. http://www.abs.gov.au/AUSSTATS/abs@.nsf/second+level+view?ReadForm&prodno=6523.0&viewtitle=Household%20Income%20and%20Income%20Distribution,%20Australia~2007-08~Latest~20/08/2009&&tabname=Past%20Future%20Issues&prodno=6523.0&issue=2007-08&num=&view=&. Retrieved 8 September 2009.
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