Quick questions on Distribution of income and wealth in Australia (HSC Economics Topic 3)

The Gini coefficient is the area between the Lorenz curve and the 45 degree line, divided by the total area below the 45 degree line.

The ABS Survey of Income and Housing (cat. no. 6523.0) is the canonical source. Indicative figures (using equivalised disposable household income):

Wealth is much more unequally distributed:

Employment is the single biggest determinant. Households where no adult is employed have far lower incomes than dual-earner households.

The rise of part-time and casual employment, especially among women, contributes to household-level inequality.

University graduates earn around 70 percent more over their working lives than those with year 12 only (Grattan Institute).

Finance, mining and ICT pay well above the average; retail, hospitality and personal care pay below.

Capital gains from housing and equities accrue disproportionately to those who already own assets.

Sydney and Melbourne earnings are 15 to 20 percent above the national average; remote and regional areas earn below.

Indigenous Australians, recent migrants and people with disability have substantially lower median incomes.

Progressive income tax and means-tested transfers (Age Pension, JobSeeker, Family Tax Benefit) reduce the Gini from around 0.45 (market income) to around 0.32 (disposable income). One of the most redistributive systems in the OECD.

State which one your statistic refers to; markers reward the phrase "in terms of wealth" or "in terms of income" because it shows you understand they move differently.

Replace "Australia is fairly equal" with "Australia's after-tax Gini is about 0.32 (ABS, 2024 indicative), the middle of the OECD range." A number with a year outscores a vague claim every time.