Your parents’ income doesn’t determine yours – unless you’re ultra rich or extremely poor
- Written by: Catherine de Fontenay, Honorary Fellow, Department of Economics, The University of Melbourne
Drazen Zigic/ShutterstockAustralia is among the strongest global performers in terms of income mobility between the generations, according to a new Productivity Commission report.
The country’s long-term economic growth has led to each generation earning more than the last, on average.
Our report finds 67% of the so-called “Xennial”...
Read more: Your parents’ income doesn’t determine yours – unless you’re ultra rich or extremely poor