#Australia #Economy #Inequality Land of the middle class: There were 105,237 people experiencing homelessness in Australia on census night in 2011. This equated to 1 in 200 Australians, and represented an increase of 17% from the 2006 census, with the rate of homelessness increasing from 45 per 10,000 to 49 per 10,000. There are also 1 in 23 people who are Millionaires, so there really is inequality. While the average household earns just under $110,000 per annum, the top 1 in 5 earn more than twice this (exceeding $260,000) and the bottom 1 in 5 take home around one-fifth of the average (a little over $23,000). This means that while the bottom fifth of households take home just 4% of all income, the top fifth get almost half (48%). New South Wales has the largest economy in Australia and contributes 30.8% of the national GDP. This means that the economy of New South Wales is larger than the economy of some independent nations, including South Africa, Malaysia, Colombia, and Thailand. Its principal industries are services, mining, industrial and transportation equipment, and food processing. This state also has a large financial services sector. If Western Australia were an independent nation, it would be within the top 50 economies of the world. The per capita GSP here averages $98,012, the highest in the country. Live here as a skilled professional. The average American will live much better, than the average French. Don't be average. There is also enormous inequality in the U.S.A, where there are super rich. Super poor. 85 people control the wealth in Russia. Average wealth in the Country is less than $800. Another way of thinking about the Gini coefficient is as a measure of deviation from perfect equality. The further a Lorenz curve deviates from the perfectly equal straight line (which represents a Gini coefficient of 0), the higher the Gini coefficient and the less equal the society.

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