A suite of new data sources has enabled the Productivity Commission to revise its measure of economic mobility. The result surprised everyone.
If the growing divide between the haves and have-nots is driving political fragmentation, division and extremism, then a new Productivity Commission report on economic mobility provides very useful insights into whether the Australian ideal of a “fair go” is fact or fiction.
The new data approach shows that on average, only about one-fifth of a change in parents’ income is passed on to their children. This means an Australian’s income rank is less influenced by their parents’ rank than in most other countries – even bettering the Nordics, famed for their approaches to equality.
This is even more so for those born into poorer families, where the vast majority of these children earn more than their parents. Some stats demonstrate how gender economic discrimination crosses all income groups. The daughters of middle- to high-income parents are half as likely to earn more than their parents; and while nearly nine out of 10 men earn more than their mothers, less than four out of 10 women earn more than their fathers. Little wonder why women are riled.
The percentage in the bottom two deciles also increases from 42 to about 45 per cent of people. This suggests the Australian system is more locked up than the simple one-off measure of income opportunity suggests.Significantly, other than the Northern Territory, there was no material difference in mobility between the states and territories, with all other jurisdictions recording high intergenerational mobility.
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