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ECONOMIC SECURITY The Economic Security section contains the following sub-topics:
Detailed data for these sub-topics is available from the Downloads tab, above (see Table 1). HIGHLIGHTS Working population Labour force participation
Between 2005-06 and 2015-16, the participation rate for women aged 55-64 increased from 46% to 59%, an increase of 13%: the highest increase in all age groups for both men and women over this time (see Figure 1 below, and Table 1.1 via the Downloads tab for more detail). Footnote(s): (a) Data averaged using 12 months in the financial year. Source(s): Customised data, ABS Labour Force Survey, 2005-06 to 2015-16 Employment conditions
In November 2014, over one in ten employed men and one in five employed women with dependent children did not have paid leave entitlements: 11% of partnered men and 11% of lone fathers, compared with 23% of partnered women, and 26% of lone mothers (see Table 1.11).
In 2013-14, 5.8% of women aged 20-74 who were born overseas were unemployed, compared with 4.8% of women born in Australia, 5.3% of men born overseas and 5% of men born in Australia. In 2012-13, unemployment rates for Aboriginal and Torres Strait Islander men and women were 14% and 15% respectively (see Table 1.14Exp). Adding people who are either unemployed or underemployed together creates an underutilised labour force population, from which an underutilisation rate can be derived. While the highest underutilisation rate was for young people aged 20-24 years, the biggest gender difference across age groups was for men and women aged 35-44 (a 7.4% percentage point difference, making women in this age group almost twice as likely as their male counterparts to be looking for more work). See Table 1.15 for more detail.
Footnote(s): (a) Data averaged using 12 months in the financial year. Source(s): Customised data, ABS Labour Force Survey, 2015-16 Proportions of men and women who are not in the labour force are quite stable over time, for all age groups. Earnings, Income and Economic situation Earnings
The difference in earnings of men and women may be analysed in different ways. It is possible to analyse total income earned from all sources, rather than just wages as shown here. It is also possible to analyse differences in earnings for various industry and occupation groups. The Workplace Gender Equality Agency provides further analyses of the gender pay gap (see their Factsheet for more detail).
Men aged 55-64 in 2013-14 had a much higher average superannuation balance than women the same age: $321,993 compared with $180,013. There was less discrepancy between men and women aged 44 years and younger but male superannuation balances were still higher in every age group (see Table 1.25). A quarter (25%) of women aged 15-64 years had no superannuation coverage, compared with 20% of men in this age group (see Table 1.26). Proportions of people with no superannuation coverage have been dropping over the last decade, as has the gap between men and women with no coverage (from a 9.3 percentage point gap in 2003-04 to a 5.2 percentage point gap a decade later). This trend is particularly noticeable for people aged 55-64 years, where proportions of women with no coverage have dropped from 51% to 27%, while those of men have dropped from 29% to 17%. Footnote(s): (a) For 2003–04 and 2005–06, 'No superannuation coverage' is defined as having a zero superannuation balance and not receiving a current weekly income from superannuation. From 2009–10 onward, the definition includes not receiving personal irregular receipts from superannuation payments over the last 2 years. Source(s): Source: ABS Survey of Income and Housing, 2003-04 to 2013-14
Footnote(s): (a) Income estimates from 2009–10, 2011–12 and 2013-14 are not directly comparable with estimates for 2003–04 and 2005–06 due to improvements made to measuring income. Source(s): ABS Survey of Income and Housing (cat. no. 6523.0) Housing
Footnote(s): (a) Excludes dependent students aged 15-24 years Source(s): Customised data, ABS Survey of Income and Housing, 2013-14 Document Selection These documents will be presented in a new window.
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