Median household income in Australia and New Zealand

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Median total household weekly income in Australia divided geographically by statistical local area, as of the 2011 census Australian Census 2011 demographic map - Australia by SLA - BCP field 0115 Median total household income weekly.svg
Median total household weekly income in Australia divided geographically by statistical local area, as of the 2011 census
Australian total gross income per capita ABS-5220.0-AustralianNationalAccounts-StateAccounts-HouseholdIncomeAccountPerCapitaAustralia-CurrentPrices-TotalGrossIncomePerCapita-A2335031A.svg
Australian total gross income per capita

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.

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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.

New Zealand Country in Oceania

New Zealand is a sovereign island country in the southwestern Pacific Ocean. The country geographically comprises two main landmasses—the North Island, and the South Island —and around 600 smaller islands. New Zealand is situated some 2,000 kilometres (1,200 mi) east of Australia across the Tasman Sea and roughly 1,000 kilometres (600 mi) south of the Pacific island areas of New Caledonia, Fiji, and Tonga. Because of its remoteness, it was one of the last lands to be settled by humans. During its long period of isolation, New Zealand developed a distinct biodiversity of animal, fungal, and plant life. The country's varied topography and its sharp mountain peaks, such as the Southern Alps, owe much to the tectonic uplift of land and volcanic eruptions. New Zealand's capital city is Wellington, while its most populous city is Auckland.

Closer Economic Relations Australia–New Zealand free trade agreement

The Australia–New Zealand Closer Economic Relations Trade Agreement, commonly known as Closer Economic Relations (CER), is a free trade agreement between the governments of New Zealand and Australia. It came into force on 1 January 1983, but the actual treaty was not signed until 28 March 1983 by the Deputy Prime Minister of Australia and Minister for Trade, Lionel Bowen and the New Zealand High Commissioner to Australia, Laurie Francis in Canberra, Australia.

The latest release shows that the median gross household income in 2013–14 was $80,704, and the average of all households was $107,276. [1]

Median household income in NZ 2004–08

Median weekly household income in NZ increased at a rate of about 3.5% a year from 2004 to 2008. In June 2004 it was (NZ)$992, [2] June 2005 was $1,040, [3] June 2006 was $1,129, [4] June 2007 was $1,203, [5] June 2008 was $1,271. [6]

Median household income in NZ 2009–11

Median weekly household income in NZ fell slightly or stagnated from 2009 to 2010 during the "great recession" period. In June 2009 it was $1,234 [7] and June 2010 it was $1,236. [8] In 2011 household incomes recovered to beyond the high of 2008 again – median weekly household incomes increased again to $1,289. [9]

Median household income in 2007–08

Income data for each state (or territory) has been converted to U.S. dollars using purchasing power parity for private consumption. [10] This is done because it provides a more accurate and stable assessment of the true value of citizens' incomes in diverse countries.

Purchasing power parity (PPP) is a way of measuring economic variables in different countries so that irrelevant exchange rate variations do not distort comparisons. Purchasing power exchange rates are such that it would cost exactly the same number of, for example, US dollars to buy euros and then buy a basket of goods in the market as it would cost to purchase the same goods directly with dollars. The purchasing power exchange rate used in this conversion equals the ratio of the currencies' respective purchasing powers.

LocationPopulationMedian household income (local currency)Median household income (PPP US$)
Australia19,855,328$66,820[ citation needed ]$43,960
New South Wales 6,549,177$66,820$43,960
Victoria 4,932,422$66,872$43,994
Queensland 3,904,532$68,276$44,918
Western Australia 1,959,084$72,800$47,894
South Australia 1,514,377$55,848$36,742
Australian Capital Territory 324,034$91,624$60,278
Northern Territory 192,898$86,788$57,097
Tasmania 476,481$50,705
New Zealand4,100,000$67,028 [11] (Average, not median)$44,985

Main source: Australian Bureau of Statistics, Household Income and Income Distribution, Australia 2007–08 . [12] 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).

Median household income in 2011–12

There were no significant changes in income between 2009–10 and 2011–12. [13]

LocationPopulationMedian household income (local currency) [14] [15] Median household income (PPP US$)
AustraliaA$47,736
Australian Capital Territory
Northern Territory
Western Australia
Queensland
Victoria
New South Wales
South Australia
Tasmania
New Zealand

Median gross household income in 2013–14

The latest release shows that the median gross household income in 2013–14 was $80,704. [1]

See also

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Median income is the amount that divides the income distribution into two equal groups, half having income above that amount, and half having income below that amount. Mean income (average) is the amount obtained by dividing the total aggregate income of a group by the number of units in that group. Mode income is the most frequently occurring income in a given income distribution.

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Household income in the United States US family income

Household income is an economic measure that can be applied to one household, or aggregated across a large group such as a county, city, or the whole country. It is commonly used by the United States government and private institutions to describe a household's economic status or to track economic trends in the US.

Personal income in the United States

Personal income is an individual's total earnings from wages, investment interest, and other sources. The Bureau of Labor Statistics reported a median personal income of $865 weekly for all full-time workers in 2017. The U.S Bureau of the Census has the annual median personal income at $31,099 in 2016. Inflation-adjusted ("real") per-capita disposable personal income rose steadily in the U.S. from 1945 to 2008, but has since remained generally level.

Poverty in New Zealand

Between 1982 and 2011, New Zealand's gross domestic product grew by 35%. Almost half of that increase went to a small group who were already the richest in the country. During this period, the average income of the top 10% of earners in New Zealand almost doubled going from $56,300 to $100,200. The average income of the poorest tenth increased by only 13% from $9700 to $11,000.

References

  1. 1 2 "Australia's rich are getting richer. Everyone else is stagnating". The Guardian. 2015-09-10. ISSN   0261-3077 . Retrieved 2016-03-09.
  2. "Archived copy". Archived from the original on 30 January 2016. Retrieved 16 May 2016.
  3. "Archived copy" (PDF). Archived from the original (PDF) on 23 February 2013. Retrieved 16 May 2016.
  4. "Archived copy" (PDF). Archived from the original (PDF) on 22 February 2013. Retrieved 16 May 2016.
  5. "Archived copy" (PDF). Archived from the original (PDF) on 22 February 2013. Retrieved 16 May 2016.
  6. "Archived copy" (PDF). Archived from the original (PDF) on 22 February 2013. Retrieved 16 May 2016.
  7. "New Zealand Income Survey: June 2010 quarter". www.stats.govt.nz.
  8. "Archived copy" (PDF). Archived from the original (PDF) on 22 February 2013. Retrieved 16 May 2016.
  9. "Archived copy" (PDF). Archived from the original (PDF) on 5 July 2017. Retrieved 16 May 2016.
  10. PPPs and exchange rates
  11. "June 2011 Income Survey". Statistics New Zealand. 1 June 2011. Retrieved 10 December 2011.
  12. "Household Income and Income Distribution, Australia, 2007–08". 20 August 2009. Retrieved 8 September 2009.
  13. "Household Income and Income Distribution, Australia, 2011–12 - Summary of Findings". Australian Bureau of Statistics. Retrieved 9 April 2015.
  14. "Household Income and Income Distribution, Australia, 2011–12" (PDF). Australian Bureau of Statistics. Retrieved 9 April 2015.
  15. "New Zealand Income Survey: June 2012 quarter". Statistics New Zealand. Retrieved 9 April 2015.