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https://theconversation.com/your-parents-income-doesnt-determine-yours-unless-youre-ultra-rich-or-extremely-poor-234158>
"Australia is among the strongest global performers in terms of income mobility
between the generations, according to a new Productivity Commission report.
The country’s long-term economic growth has led to each generation earning more
than the last, on average.
Our report finds 67% of the so-called “Xennial” generation – those born in
1976–1982, on the cusp of the Millennial/Gen X divide – earn more than their
parents did at a similar age.
This is particularly true of those born into poorer families.
When we look at where people rank in an income distribution, the picture is a
little less rosy. While children with parents at the bottom or top of the
income scale are more likely to remain there, almost 15% of people with parents
in the lowest income decile, remain there while just 6% move to the top.
And those living in poverty - who often include renters, people from migrant
backgrounds who don’t speak English at home and single parents - face some of
the biggest barriers to improving their economic lot.
Fairly Equal? Economic mobility in Australia, released on Thursday, measures
intergenerational income mobility by examining the relationship between a
person’s income and the eventual income of their children."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
