Trends in the Distribution of Income and Wealth (HSC SSCE Economics): Flashcards
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Right-skewed distribution
Right-skewed distribution
Long tail to higher values; mean exceeds median
Wealth ratio: richest 20% vs poorest 20%
Wealth ratio: richest 20% vs poorest 20%
94 times greater
Peak earning age group in Australia
Peak earning age group in Australia
45-54 years ($1741/week median)
Women's earnings as % of men's (2022)
Women's earnings as % of men's (2022)
87% ($253/week gap)
Indigenous income gap %
Indigenous income gap %
31% below average (1200/week)
Education premium (post-school vs none)
Education premium (post-school vs none)
$490 more per week
Single parent median net worth
Single parent median net worth
$151,000 (lowest of all family types)
Older vs younger household wealth
Older vs younger household wealth
4 times as wealthy
Top 10% share of income growth (2009-2019)
Top 10% share of income growth (2009-2019)
93%
Earnings gap: uni-educated vs minimal ed fathers' kids
Earnings gap: uni-educated vs minimal ed fathers' kids
30% difference (23.03/hour)