Business News

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

Australia 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”...

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