Economic Wealth In Australia

The privilege afforded to those who live in the top one precent of economic wealth in the world often gives way to societal negligence as the monetary advances of life in the higher class shrouds the truth of the socially and economically disadvantaged minority. Due to Australia’s status as an MEDC allows the deemed poverty line in the country to be far greater than the $1.25 a day average seen elsewhere. This is a result of an urban setting, as the disadvantaged are unable to live subsistent lifestyles, thus requiring provisions to allow for the minimum economic independence to buy their food and other necessities. This therefore leaves this faction of the population to become dispossessed of other needs such as shelter and career opportunities.

Although this trend has waned in recent years as economic expansion has stagnated due to a combination of the lowering of migration into the area as well as the rising house prices. (Market, 2015) Conversely social and economic inequalities are evident through the diverse demographic of the population that reside in Brisbane who have varying abilities to access opportunities. This is usually due to the capitalist class structure within Australia, with education accessibility, public infrastructure quality, little or no class movement, amongst other contributing factors. Symptomatically, these inequalities lead to a drop in wellbeing amongst minorities and a lower quality of life. These minorities typically live further away from established infrastructure and public facilities, due to the greater housing costs of the

(although there is a new phenomenon in ageist recruitment of the retired) Queensland is, according to the ABS, statistically the worst for youth employment in Australia, with Cairns, Ipswich, Caboolture, Redcliffe, Bundaberg, Gympie and outback Queensland the most difficult places to find a job, with one in three youths under the age of 25 unable to find work. Ipswich itself in 2014 had a 20.5% unemployment rate (Moore, 2014) In Brisbane itself unemployment has gone down in the inner suburbs but in the outer suburbs has gone up showing a vast economic as well as linking into a social inequality. In Brisbane we have a high percentage of unemployed youths in comparison to other MEDCs such as the UK which has an average of 5.7% of youths being unemployed (Queensland University of Technology, 2015) In Brisbane the story is quite different with over 10% of youths unemployed in all areas of Brisbane this percentage of the younger population growing larger the further one travels from the city centre. This mass unemployment creates poorer young people and instigates a reliance on Centrelink and the “Youth Allowance System.” According to the Department of Human Services (This many people) are accessing the Youth Allowance system. University