The Australian Bureau of Statistics (ABS) says the proportion of people with a “middle class” or “upper class” income level has increased from 27.3 per cent in 2009 to 32.9 per cent of the population in 2014.
The rise was partly explained by the Australian dollar’s appreciation in value since the 2008 global financial crisis.
However, the ABS also says the trend is not confined to a particular geographic area, but is in the broader sense of “social class” that includes “economic status”.
The ABS data also shows that, while the “middle” and “upper” income groups are growing in size, “wealthy” and the “poor” are not.
According to the ABS, the median “middle-class” household income in Australia in 2014 was $70,000, while $30,000 was the median for the “upper-class”.
In contrast, the “wealth” and, to a lesser extent, “poor-income” households saw median incomes drop by about $6,000 and $6.50, respectively.
The “upper middle” income group comprised a range of individuals earning between $70 and $80,000 a year.
In the past, the middle class was thought of as middle-income households that enjoyed a relatively high standard of living.
But now, the trend towards the “rich” and upper class has been “reversed”, according to the report.
This is because a rise in the share of the Australian population with a middle class income is seen as an indicator of economic status, according to researchers at the Australian National University.
“The middle class, which is the most commonly identified income group in Australia, is no longer the primary indicator of income distribution,” the report said.
When it comes to “wealth”, the report says that “the median wealth of the upper-middle class has risen from $60,000 in 2009, to $90,000 by 2014.”
The report also noted that “middle and upper-income families have experienced higher median incomes, as well as lower average income, relative to the wealth of wealthier households.”
However, the rise in “wealth”-related inequality is less pronounced in Australia than it is in other wealthy countries.
ABS data shows that the top 10 per cent has seen their median income rise from $150,000 to $250,000.
However the average income of “middle”-income households has also risen by about 12 per cent since 2009.
While “middle”, “upper”-middle” or the “progressive” income brackets have grown, the average wealth of “poor”-income earners has also increased.
For instance, the bottom half of the “income distribution” saw an increase of about $2,000 from 2009 to 2014, while middle- and upper classes saw a drop of about the same amount.
Of course, the report does not say how much of the increase in “middle income” and lower-middle income is due to the economic recovery, while “wealth and wealth-related inequality” is due in part to a rise of “progression”.
However it does indicate that the gap between “middle”.
and “pro” has widened, particularly in the past two years.
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We’ve had this growth of ‘middle class’ income in the country and now, because of this economic recovery and because of the economic boom, people are now seeing it as the best place to live, particularly if you are a middle-class person, with a home and a job,” he told ABC Radio.
Topics:economics-and-finance,wealth-and.debt,government-and–politics,economics,australia,brisbane-4000,nsw,nth-2440More stories from Australia