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The average debt was 20% of gross assets. The proportion of people with wealth above US$100,000 was the highest in the world (eight times the world average). Australia had 3.8% (1,783,000 people) of the top 1% of global wealth holders while having 0.4% of the world's adult population. [75]
In 1907, the Harvester case ruling that established the right to a basic wage, a 'fair and reasonable' minimum wage for unskilled workers of 7 shillings. In 1910, the federal government introduced a national currency, the Australian pound .
The average wage is a measure of total income after taxes divided by total number of employees employed. ... Australia * 52,502 60,585 65,335 63,926
Median total household weekly income in Australia divided geographically by statistical local area, as of the 2011 census Australian total gross income per capita. Median household income is commonly used to measure the relative prosperity of populations in different geographical locations.
However, because of wage inflation the federal government indexes wages so that $35,648.55 earned in year 2004 is exactly the same as $23,753.53 earned in 1994. Those two figures came from the yearly list of National Average Wage indexing series. [1]
By comparison, it is estimated that the average CEO Pay Ratio was about 20 times the typical worker’s pay in the 1950s, with that multiple rising to 42-to-1 in 1980, and to 120-to-1 in 2000". [3] While not as extreme, similar trends have been observed around the world.
23 June – The Parliament of Australia passes the Communist Party Dissolution Bill, effectively banning the operation of the Communist Party of Australia. 26 June – Douglas DC-4 Amana crashes near Perth, Western Australia, killing all 29 people on board. 26 July – The government announces that Australia will send troops to fight in the ...
The white paper Full Employment in Australia, published in 1945, was the defining document of the official economic policy in Australia until the 1970s. For the first time, the Australian government accepted an obligation to guarantee full employment and to intervene as necessary to implement that guarantee.