Low-income earners looking at bottom 20% of properties 10 May 2021
Aussies can no longer rely on their incomes and savings alone to fund a property purchase, new analysis has revealed.
Housing affordability is becoming an increasingly pressing concern, and although price growth declined to 1.8 per cent in April, from the 32-year high of 2.8 per cent in March, it is still six times the average monthly price movement over the past decade, CoreLogic data has revealed.
With the current median dwelling valued at $624,997, the price of a typical home is believed to have added an extra $11,240 in the space of a month. Advertisement
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at 1:20 pm on May 11, 2021 | 10 comments
The Australian Bureau of Statistics (ABS) today released Weekly Payroll Jobs and Wages data for the week ended 24 April 2021, which showed that payroll jobs are now running 1.9% above their pre-COVID level, whereas total wages are up 2.8%:
Jobs and wages are running above pre-COVID levels.
Payroll jobs and wages are now running higher than pre-COVID levels across every jurisdiction:
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Payroll jobs and wages are higher across all states and territories.
Women continue to enjoy far stronger jobs and wages growth than men. Male jobs are still running below pre-COVID levels, whereas wages are running slightly above:
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Week 1 in Spring 2020 is the week ending 26 September and in Autumn 2021 is the week ending 3 April.
Mr Jarvis said, “In the latest fortnight of data, payroll jobs were above pre-pandemic levels in every state and territory. The largest increases in payroll jobs from pre-pandemic levels were seen in the Northern Territory, Western Australia and South Australia (up 5.4 per cent, 4.5 per cent and 3.6 per cent).
At 24 April 2021, payroll jobs worked by women were 1.4 per cent above pre-pandemic levels, compared with 0.1 percent below for men.
Over half (53 per cent) of payroll jobs held by women are in four industries (Health care and social assistance, Education and training, Retail trade, and Accommodation and food services). Amongst these large employing industries, only payroll jobs held by women in Health care and social assistance were above pre-pandemic levels (up 4.4 per cent) at 24 April 2021. Payroll jobs held by women in the other three industries were below pre-p
Under-employment soars to record high in Australia
Workers attempting to practice social distancing while waiting to enter Leichhardt Centrelink office (WSWS Media)
In particular, full-time jobs are being eliminated and replaced by part-time, temporary and casualised work, driving down wages and working conditions throughout the working class.
Tonight’s federal budget is set to step up this assault by allowing the remaining international students and temporary visa holders to work unlimited hours, but only if they accept jobs in the low-paid hospitality and tourism sectors.
At the end of March, the Liberal-National Coalition government had already intensified this process, by simultaneously terminating its JobKeeper wage subsidy scheme and slashing JobSeeker dole payments back to pre-pandemic, sub-poverty levels.
The government will commit $164.8m over three years to establish escaping violence payments that will provide up to $1,500 in immediate cash and a further $3,500 in kind for goods or direct payments of bonds, school fees or other items. The payments will be provided under a two-year trial.
There will also be an additional $12.6m going to support accommodation for women and children experiencing family and domestic violence, and $35.1m for violence prevention campaigns.
The government will not proceed with a measure to extend the early release of superannuation to victims of family and domestic violence.
The 2021-22 budget includes measures to support Aboriginal and Torres Strait Islander women, women with disability, and culturally and linguistically diverse women.