Wanting More

Australia has experienced 16 years of economic growth, prompting some governments to claim we've never had it so good. But the boom has passed many Australians by, as food and basics become increasingly expensive.

This week, Insight asks - are wages keeping up with the cost of living? And how much is 'enough'?

Unemployment is at an all time low. However, 1.2 million wage and salary-earning households reportedly suffer financial stress, and 80% of the 2.5 million jobs created over the last twenty years are paid less than $600 per week.

Inflation stands at 4.3%, with Australia's food inflation the highest in the developed world.

So how can we deliver more to the low paid? Is a wage rise the answer?

Meanwhile, Australians are turning to credit. Personal debt levels are at unprecedented highs, financially crippling even those on higher wages.

Has it become too easy to credit? Or do we just want too much?