Australia ranks highly for income mobility between generations, but wealth mobility is lower, with 40% of people staying in the top or bottom two income deciles throughout their lives.
Australia ranks highly for income mobility between generations, with most Australians earning more than their parents did at the same age, according to a report by the Productivity Commission. However, wealth mobility is lower, with 40% of people staying in the top or bottom two income deciles throughout their lives. The report highlights poverty and regional economic conditions as significant barriers to economic mobility.
July 10, 2024
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