While Australia is a country rich in natural resources and social opportunities, our nation’s wealth is not spread equally among all of its residents.
We know that the gap between the highest and lowest income earners has been widening over the past 20 to 30 years. But what does that mean for the way you live your life and your own state of wellbeing?
As the chief economist at the Australian Bureau of Statistics (ABS) Bruce Hockman explains, there are a number of determinants, other than income, which will influence your potential to live a life of advantage or relative poverty.
He tells SBS your socioeconomic status can also be influenced by factors like education, overcrowding in your home, whether you’re a single parent, have a disability and have access to a car.
