has left one in four Australians finding it difficult to get by on their current income, according to new analysis.
Participants were asked how they felt about their household income and to nominate if they were living comfortably, coping, finding it difficult or finding it very difficult on present income. “In really encouraging news, for the first time since the virus hit our shores Australians are working more hours on average than before the pandemic.
“These levels are much lower than before the pandemic,” co-author Matthew Gray said. “For example, in February 2020 the average household income was almost $1800.”Inflation is now expected to peak around 8 per cent this year, largely due to flooding and higher-than-expected electricity prices., meaning annual price rises will not be back within the 2 per cent to 3 per cent target band until 2025.
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