Australian annual employment rate hits all-time high: welfare report

Source: Xinhua| 2019-09-11 17:04:40|Editor: Xiang Bo
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CANBERRA, Sept. 11 (Xinhua) -- Australia's annual employment rate is at an all-time high according to a report on the nation's welfare.

The Australian Institute of Health and Welfare (AIHW) on Wednesday published the 2019 report card on the welfare of Australians.

It revealed that as of 2018, 74 percent of Australians aged between 15 and 64 were employed -- the highest annual employment rate recorded in Australia.

However, while the employment rate has grown the opposite is true for the rate of home ownership.

The rate of home ownership among people aged 25 to 29 fell from 50 percent in 1971 to 37 percent in 2016.

Approximately one million Australians were in housing stress in financial year 2017-18.

"People are spending a higher proportion of their incomes on housing than in the past," the report said.

"The proportion of households spending less than a quarter of their income on housing is shrinking. The proportion spending more than half is growing."