* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Friday, June 27, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Susquehanna Raises Penn Entertainment Inc. (PENN) Price Target. – Yahoo Finance

    Susquehanna Raises Price Target for Penn Entertainment Inc. (PENN)

    George Lopez is coming to Spokane – KXLY.com

    George Lopez is coming to Spokane – KXLY.com

    Netflix unveils Dallas immersive venue for fans of hit shows like ‘Squid Game,’ ‘Stranger Things’ – Houston Chronicle

    Step Inside Netflix’s New Dallas Immersive Experience Featuring Hits Like ‘Squid Game’ and ‘Stranger Things

    ‘Puttin’ on the Ritz’: Civic Players bring ‘Young Frankenstein’ to life – Yahoo

    Civic Players Deliver a Hilarious and Unforgettable Performance of ‘Young Frankenstein

    ‘Wheel of Fortune’: Amputee Wins $60,000 After Breaking Incredible ‘Curse’ – Hastings Tribune

    Wheel of Fortune’ Amputee Breaks Incredible ‘Curse’ to Win $60,000!

    North Star Sports & Entertainment Network: Coming soon – KTTC News

    North Star Sports & Entertainment Network: Coming soon – KTTC News

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Wayve Expands Engineering Leadership to Power Next-Gen Autonomous Driving Technology – Silicon Canals

    Wayve Boosts Engineering Leadership to Accelerate Next-Gen Autonomous Driving Innovation

    Frontdoor Announces Tech Expert Dr. Bala Ganesh as Chief Technology Officer – Business Wire

    Frontdoor Appoints Tech Visionary Dr. Bala Ganesh as New Chief Technology Officer

    Defense technology giant Northrop Grumman to host interviews in Iuka to fill technician roles – supertalk.fm

    Defense technology giant Northrop Grumman to host interviews in Iuka to fill technician roles – supertalk.fm

    China’s Military Introduces Mosquito-Sized Drones: A Game-Changing Surveillance Technology – Indian Defence Review

    China Unveils Mosquito-Sized Drones: Revolutionizing Surveillance Technology

    Marvell Technology Stock Rallies After AI Event Sparks Investor Optimism – Yahoo Finance

    Marvell Technology Stock Rallies After AI Event Sparks Investor Optimism – Yahoo Finance

    Promising Technology Stocks To Follow Today – June 22nd – MarketBeat

    Top Technology Stocks to Watch Today – June 22nd

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Susquehanna Raises Penn Entertainment Inc. (PENN) Price Target. – Yahoo Finance

    Susquehanna Raises Price Target for Penn Entertainment Inc. (PENN)

    George Lopez is coming to Spokane – KXLY.com

    George Lopez is coming to Spokane – KXLY.com

    Netflix unveils Dallas immersive venue for fans of hit shows like ‘Squid Game,’ ‘Stranger Things’ – Houston Chronicle

    Step Inside Netflix’s New Dallas Immersive Experience Featuring Hits Like ‘Squid Game’ and ‘Stranger Things

    ‘Puttin’ on the Ritz’: Civic Players bring ‘Young Frankenstein’ to life – Yahoo

    Civic Players Deliver a Hilarious and Unforgettable Performance of ‘Young Frankenstein

    ‘Wheel of Fortune’: Amputee Wins $60,000 After Breaking Incredible ‘Curse’ – Hastings Tribune

    Wheel of Fortune’ Amputee Breaks Incredible ‘Curse’ to Win $60,000!

    North Star Sports & Entertainment Network: Coming soon – KTTC News

    North Star Sports & Entertainment Network: Coming soon – KTTC News

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Wayve Expands Engineering Leadership to Power Next-Gen Autonomous Driving Technology – Silicon Canals

    Wayve Boosts Engineering Leadership to Accelerate Next-Gen Autonomous Driving Innovation

    Frontdoor Announces Tech Expert Dr. Bala Ganesh as Chief Technology Officer – Business Wire

    Frontdoor Appoints Tech Visionary Dr. Bala Ganesh as New Chief Technology Officer

    Defense technology giant Northrop Grumman to host interviews in Iuka to fill technician roles – supertalk.fm

    Defense technology giant Northrop Grumman to host interviews in Iuka to fill technician roles – supertalk.fm

    China’s Military Introduces Mosquito-Sized Drones: A Game-Changing Surveillance Technology – Indian Defence Review

    China Unveils Mosquito-Sized Drones: Revolutionizing Surveillance Technology

    Marvell Technology Stock Rallies After AI Event Sparks Investor Optimism – Yahoo Finance

    Marvell Technology Stock Rallies After AI Event Sparks Investor Optimism – Yahoo Finance

    Promising Technology Stocks To Follow Today – June 22nd – MarketBeat

    Top Technology Stocks to Watch Today – June 22nd

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Science

Who’s better off and who’s worse off four years on from the outbreak of COVID? The financial picture might surprise you

June 10, 2024
in Science
Who’s better off and who’s worse off four years on from the outbreak of COVID? The financial picture might surprise you
Share on FacebookShare on Twitter

Who's better off and who's worse off four years on from the outbreak of COVID? The financial picture might surprise you

Credit: The Conversation

A lot has happened to the economy since COVID struck, and reading the economic tea leaves has become more difficult.

Many of the gains for many Australians in 2020 and 2021 were artificial and didn’t last. The COVID Supplement temporarily doubled JobSeeker, for example. JobKeeper paid workers what their employers could not.

As these measures have been unwound, the gains have been unwound, making it more difficult than usual to separate the economic signal from the noise.

But in a study just published in the the ANU Centre for Social Policy Research journal POLIS@ANU we have made an attempt.

We wanted to find out which kinds of households are expected to be financially better off and which worse off five years on from the outbreak of COVID, comparing 2024 with 2019.

We’ve adjusted incomes for living costs

We have examined incomes after adjusting for changes in living costs. This means that if a household’s after-tax income increased by 20% but its cost of living also increased by 20%, we have regarded its financial living standard as unchanged.

The tool we used was the ANU PolicyMod model of the Australian tax and transfer system, Australian Bureau of Statistics data on employment, demographics and prices and wages, and government data on tax and payments.

We have also taken account of the income tax cuts and changes to payments that begin next month. Our estimates for December 2024 are projections based on the assumptions in the budget about incomes and prices.

Who's better off and who's worse off four years on from the outbreak of COVID? The financial picture might surprise you

Credit: The Conversation

We find overall living standards increased from 2019 to 2021 but then fell sharply in 2022 with a further small fall in 2023. Overall living standards were 0.6% lower in December 2023 than in December 2019.

This year they are expected to climb to be 1.3% higher than December 2019.

But it’s an overall picture that glosses over the full story.

Gains for high earners, low earners

The only groups whose living standards grew significantly over the period were households on the very lowest and the very highest incomes.

We divided households into five “quintiles”. The lowest-income fifth we called Quintile 1. The highest-income fifth we called Quintile 5.

The Quintile 1 living standard grew 3.5%. The Quintile 5 living standard grew 2.7%.

In contrast, the living standard of the second-lowest quintile barely grew, and the living standards of the middle and upper-middle quintiles actually fell.

The living standards of middle and upper-middle-income Australians were lower in early 2024 than they had been in 2019.

Who's better off and who's worse off four years on from the outbreak of COVID? The financial picture might surprise you

Credit: The Conversation

Low-income households did relatively well partly because their payments were indexed to inflation. High-income households did well partly because they had investments that did well.

Where middle earners did badly, it was in large measure because they had mortgages. Where they did well, it seems to have been because they were outright homeowners and had other sources of investment income.

Losses for the mortgaged middle

The living standards of mortgaged households fell 5.6% between 2019 and December 2024.

In contrast, the living standards of renters climbed 2.9%, while the living standards of outright owners climbed 8.5%

On sources of income, the living standards of households whose main source of income was “other” (including investments) grew an astounding 15.8%.

In contrast, the living standards of households that relied on wages and the standards of those that relied on government benefits changed little.

The living standards of households headed by employers fell almost 10%.

Possibly for related reasons, older Australians have done much better than working-aged Australians, and the youngest did better than the middle-aged.

Who's better off and who's worse off four years on from the outbreak of COVID? The financial picture might surprise you

Credit: The Conversation

We also tried dividing households by “financial well-being”, a measure made up of income, wealth, housing tenure, age, disability and family type based on their statistical associations with the Bureau of Statistics measure of “financial stress”.

The bureau’s measure includes inability to raise emergency funds within a week and to pay bills on time.

Again, we divided households into quintiles. We called the fifth with the least well-being Quintile 1; the fifth with the highest well-being Quintile 5.

The most well-off are better off

The households with the highest well-being did the best, finding themselves 6.2% better off by 2024.

Those who did the worst were those with the second-highest and middle wellbeings, who found themselves about 3% worse off.

Those with the least well-being were 2.8% better off.

Overall, we did not find that household living standards have dropped remarkably since the onset of COVID.

But we can understand why some Australians, particularly middle-income Australians with mortgages and middle-aged Australians, feel they have.

They did badly in 2022 and 2023 as mortgages rose. Less advantaged and more advantaged Australians did better.

This article is republished from The Conversation under a Creative Commons license. Read the original article.The Conversation

Citation:
Who’s better off and who’s worse off four years on from the outbreak of COVID? The financial picture might surprise you (2024, June 9)
retrieved 9 June 2024
from https://phys.org/news/2024-06-worse-years-outbreak-covid-financial.html

This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no
part may be reproduced without the written permission. The content is provided for information purposes only.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Phys.org – https://phys.org/news/2024-06-worse-years-outbreak-covid-financial.html

Tags: scienceWho’s
Previous Post

How studying (robot) pigeon navigation changed my mind about their intellect

Next Post

Tigers take jab at Lions’ former rival Aaron Rodgers in scoreboard trivia game

Wayve Expands Engineering Leadership to Power Next-Gen Autonomous Driving Technology – Silicon Canals

Wayve Boosts Engineering Leadership to Accelerate Next-Gen Autonomous Driving Innovation

June 26, 2025
Fantasy Football: Which teams are set to pass the most (and least) in 2025? – Yahoo Sports

Fantasy Football Preview: Which Teams Will Lead the League in Passing Attempts in 2025?

June 26, 2025
Tiny night lizards survived dinosaur-killing asteroid strike, despite being close enough to see it happen – Live Science

How Tiny Night Lizards Defied Extinction After the Dinosaur-Killing Asteroid Impact

June 26, 2025
Scientists Confirm Anti-Aging Drug Appears to Prolong Life in Animals – ScienceAlert

Scientists Confirm Anti-Aging Drug Appears to Prolong Life in Animals – ScienceAlert

June 26, 2025
Tokyo Lifestyle Makes Strategic Move into Australian Market with Premium Store in Sydney Chinatown – Stock Titan

Tokyo Lifestyle Makes Strategic Move into Australian Market with Premium Store in Sydney Chinatown – Stock Titan

June 26, 2025
First images from world’s largest digital camera reveal galaxies and cosmic collisions – NBC News

First images from world’s largest digital camera reveal galaxies and cosmic collisions – NBC News

June 26, 2025
Spirit Airlines Rebrands Travel Options: First, Premium Economy, Value – One Mile at a Time

Spirit Airlines Unveils Exciting New Travel Options: First, Premium Economy, and Value Classes

June 26, 2025
Susquehanna Raises Penn Entertainment Inc. (PENN) Price Target. – Yahoo Finance

Susquehanna Raises Price Target for Penn Entertainment Inc. (PENN)

June 26, 2025

Vanderburgh County Health Department Takes Bold Action Against Vaccine Hesitancy

June 26, 2025
Why Trump needs the world to believe Iran’s nuclear program is ‘obliterated’ – CNN

Why Trump Wants the World to Believe Iran’s Nuclear Program Is Completely Destroyed

June 26, 2025

Categories

Archives

June 2025
MTWTFSS
 1
2345678
9101112131415
16171819202122
23242526272829
30 
« May    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (698)
  • Economy (718)
  • Entertainment (21,613)
  • General (15,576)
  • Health (9,757)
  • Lifestyle (723)
  • News (22,149)
  • People (720)
  • Politics (725)
  • Science (15,936)
  • Sports (21,215)
  • Technology (15,703)
  • World (698)

Recent News

Wayve Expands Engineering Leadership to Power Next-Gen Autonomous Driving Technology – Silicon Canals

Wayve Boosts Engineering Leadership to Accelerate Next-Gen Autonomous Driving Innovation

June 26, 2025
Fantasy Football: Which teams are set to pass the most (and least) in 2025? – Yahoo Sports

Fantasy Football Preview: Which Teams Will Lead the League in Passing Attempts in 2025?

June 26, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version