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INCOME AND ECONOMIC RESOURCES

This article is part of a comprehensive series released as Aboriginal and Torres Strait Islander Wellbeing: A focus on children and youth.

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Note: In this chapter, the terms 'youth' and 'young people' refer to people aged 15–24 years. Data presented are from the ABS National Aboriginal and Torres Strait Islander Social Survey, 2008 (cat. no. 4714.0).

KEY MESSAGES In 2008: nearly half (48%) of all Aboriginal and Torres Strait Islander youth were living in a household that would be unable to raise $2,000 within a week in an emergency over one-quarter (28%) of young people were living in a household that ran out of money for basic living expenses in the 12 months prior to the interview young people living in remote areas were more likely to provide support to relatives outside the household than those in non-remote areas (46% compared with 28%).

A major determinant of economic wellbeing for most people is the level of income they and other family members in the same household receive. Income is a fundamental financial resource allowing individuals and households to meet everyday living expenses. Income can be obtained from a wide variety of sources, not only wages and salaries. Household income is one of the main measures used when analysing income distribution (for more information see Household Income and Income Distribution, Australia, 2009-10, Explanatory Notes 14-16, cat. no. 6523.0). The level of access and control individuals and households have over their income and other economic resources can provide an indication of their standard of living and social wellbeing.

This article examines types of financial stress Aboriginal and Torres Strait Islander youth may have experienced and the characteristics of young people receiving personal income.

The Framework for Measuring Wellbeing: Aboriginal and Torres Strait Islander Peoples, 2010 (cat. no. 4703.0) identifies income and economic resources as one of the domains that contributes to Aboriginal and Torres Strait Islander wellbeing.

Topics covered in this article include:

• Financial stress
• Characteristics of personal income earners
• Other resources.
  

This section contains the following subsection :

Financial stress

Characteristics of personal income earners

Other resources about income and economic resources

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