How are you all doing out there?

I’m Kate Hill bringing you the best and unbiased and honest content on property along with some fantastic hints and tips, sometimes area reports, all sorts of things.

Stay tuned today to hear why economic mobility is just not guaranteed.

Now if you’ve ever had conversations with your parents or maybe even your grandparents, they have probably recounted to you how much they earned back in their day.

Now often those amounts can seem quite small in comparison to what you earn, but that’s because, of course, they haven’t been adjusted for inflation.

However, it is generally accepted that as our nation grows and becomes more educated too, most people believe that they will ultimately earn more than their parents did.

But some new research from the Productivity Commission has found that some worrying signs for what we would call economic mobility in this country, especially for people born about thirty years ago, and alas, also for women.

According to this research, Australia’s long term economic growth has led to each generation earning more income than the last on average.

About sixty seven percent of those born between seventy six and eighty two earn more than their parents did at a similar age, and this is particularly true of those born in poorer families.

However, your parents’ financial situation when you were born can still have an impact on your own according to this study.

So children with parents in the bottom or the top income deciles are relatively more likely to remain in the bottom or top deciles themselves.

Almost fifteen percent of people with, parents in the bottom income decile remained in remained there, while just six percent of them ended up in the top.

So in contrast, just seven percent of people with parents in the top decile ended up in the bottom with twenty percent remaining at the top.

According to the research in Australia, there has been weak income growth for people born in the nineteen nineties, which reflects the poor economic outcomes that they experienced following the global financial crisis.

Younger Australians experienced stagnant wages and were more likely to obtain jobs with lower educational requirements and earnings potential relative to comparably skilled younger people in two thousand and one, which can have long term negative effects on their wages and occupational choices.

However, while it is still too early to come to strong conclusions, the lack of income growth for those born in the nineteen nineties indicates the trend that each generation earned more than their parents or that the previous one may have has stalled for the first time.

So unsurprisingly, I’m afraid to say that given my interest in gender finance imbalance in this nation, women are more likely to experience persistent poverty than men, predominantly after separation.

So likewise, renters were identified as a cohort much more likely to experience poverty in their lifetimes.

Following separation from a long term partner, women experience a significant decrease in disposable income, while men’s income can actually increase.

This gender difference has also been found in other OECD countries influenced by lost partner income as well as a greater likelihood of women being the primary residential parent for families with children.

Overall though, just over half of women earned higher incomes than their parents compared to the vast majority of men.

Men with middle to high income parents are more than twice as likely to out earn their parents than women. A key reason why women, of course, are less likely to out earn their parents is that gender pay gap according to this study.

While eighty six percent of men earn more than their mothers, only thirty seven percent of women earn more than their fathers.

This drives the overall result that a lower proportion of women earn higher incomes than their parents, and it also means that men are more likely than women to out earn both their fathers and mothers.

While this may it might make sobering listening for some, the key takeaway must be that economic mobility remains common and possible in this nation, and one of the simplest ways to improve your financial situation is to invest in bricks and mortar.

Incomes have grown for each successive generation until recently.

Average individual income by birth, decade, and age, you will see this on that graph that we are showing you right now.

So I will keep you posted on all things property from around Australia as our year progresses.

Don’t forget to hit the like and subscribe button if you are enjoying all the free content, and I will see you all soon.

Bye.

How are you all doing out there?

I’m Kate Hill bringing you the best and unbiased and honest content on property along with some fantastic hints and tips, sometimes area reports, all sorts of things.

Stay tuned today to hear why economic mobility is just not guaranteed.

Now if you’ve ever had conversations with your parents or maybe even your grandparents, they have probably recounted to you how much they earned back in their day.

Now often those amounts can seem quite small in comparison to what you earn, but that’s because, of course, they haven’t been adjusted for inflation.

However, it is generally accepted that as our nation grows and becomes more educated too, most people believe that they will ultimately earn more than their parents did.

But some new research from the Productivity Commission has found that some worrying signs for what we would call economic mobility in this country, especially for people born about thirty years ago, and alas, also for women.

According to this research, Australia’s long term economic growth has led to each generation earning more income than the last on average.

About sixty seven percent of those born between seventy six and eighty two earn more than their parents did at a similar age, and this is particularly true of those born in poorer families.

However, your parents’ financial situation when you were born can still have an impact on your own according to this study.

So children with parents in the bottom or the top income deciles are relatively more likely to remain in the bottom or top deciles themselves.

Almost fifteen percent of people with, parents in the bottom income decile remained in remained there, while just six percent of them ended up in the top.

So in contrast, just seven percent of people with parents in the top decile ended up in the bottom with twenty percent remaining at the top.

According to the research in Australia, there has been weak income growth for people born in the nineteen nineties, which reflects the poor economic outcomes that they experienced following the global financial crisis.

Younger Australians experienced stagnant wages and were more likely to obtain jobs with lower educational requirements and earnings potential relative to comparably skilled younger people in two thousand and one, which can have long term negative effects on their wages and occupational choices.

However, while it is still too early to come to strong conclusions, the lack of income growth for those born in the nineteen nineties indicates the trend that each generation earned more than their parents or that the previous one may have has stalled for the first time.

So unsurprisingly, I’m afraid to say that given my interest in gender finance imbalance in this nation, women are more likely to experience persistent poverty than men, predominantly after separation.

So likewise, renters were identified as a cohort much more likely to experience poverty in their lifetimes.

Following separation from a long term partner, women experience a significant decrease in disposable income, while men’s income can actually increase.

This gender difference has also been found in other OECD countries influenced by lost partner income as well as a greater likelihood of women being the primary residential parent for families with children.

Overall though, just over half of women earned higher incomes than their parents compared to the vast majority of men.

Men with middle to high income parents are more than twice as likely to out earn their parents than women. A key reason why women, of course, are less likely to out earn their parents is that gender pay gap according to this study.

While eighty six percent of men earn more than their mothers, only thirty seven percent of women earn more than their fathers.

This drives the overall result that a lower proportion of women earn higher incomes than their parents, and it also means that men are more likely than women to out earn both their fathers and mothers.

While this may it might make sobering listening for some, the key takeaway must be that economic mobility remains common and possible in this nation, and one of the simplest ways to improve your financial situation is to invest in bricks and mortar.

Incomes have grown for each successive generation until recently.

Average individual income by birth, decade, and age, you will see this on that graph that we are showing you right now.

So I will keep you posted on all things property from around Australia as our year progresses.

Don’t forget to hit the like and subscribe button if you are enjoying all the free content, and I will see you all soon.

Bye.

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