MSD has just released the Household Income Report for 2012. It's as up-to-date as it can be after surveying, analysing and publishing, and relates to the 2010-11 financial (June) year. I've pretty much copied main points:
Incomes fell for deciles 3-6 … but rose for the top decile especially. At the very bottom incomes were flat (protected by benefit rates being CPI adjusted and NZS being wage related).
Inequality rose to its highest level ever [but] redistribution through the tax and transfer system reduces inequality very significantly compared with what it would otherwise be. An example is that single-earner two-child families with income less than around $55,000 from wages pay no net income tax. They receive more from WFF tax credits than they pay in income tax and ACC.
Child poverty rates were flat from 2009 to 2011 – this is a good result in the circumstances.
50% of poor children are Maori/Pacific.
50% of poor children are from sole parent families and 50% from two parent.
Income poverty rates for single person working-age households trebled from the 1980s to 2007 (10% to 30%) and were 35% in 2011.
(The headline from Stuff is misleading: Poor get poorer, inequality reigns. In fact the 'poor' flat-lined. The middling incomes dropped. Same journalist writes, "It also painted a damning picture into child poverty, with 21 per cent
of Kiwi kids living in poverty, compared to 15 per cent in 2007." See above were the child poverty rate is described as a "good result" in the circumstances.)
Thursday, August 23, 2012
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