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Annual percentage increase in weekly income, before and after the GFC in 2008

Income inequalityInequalityTrends

The graphs breaks the average annual increases in household income into two periods, before and after the Global Financial Crisis (GFC) and then shows the increase in income over the entire period 1999-00 to 2017-18. 

It shows that the average incomes (after inflation) of the highest 20% rose by an average of 5.0% per year during the boom years, and 0.6% afterwards. The incomes of the middle 20% rose more slowly, by an average of 4.1% per year during the boom and 0.5% afterwards. The incomes of the lowest 20% grew more slowly again, by 3.9% a year in the boom up to 2007, but just 0.4% from 2007 to 2017-18.

Over the period as a whole, average annual income growth (after inflation) was 2.7% for the highest 20%, compared wtih 2.2% for the middle 20% and 2% for the lowest 20%. The overall increase in incomes over the 18 years was 48% for the highest 20% compared with 40% for the middle 20% and 36% for the lowest 20%.

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