Below trend growth to continue
Australia’s wellbeing has risen to its highest level since mid-2013, with levels of happiness, life satisfaction, life worth and anxiety all improving, the latest NAB Wellbeing Index has found.
Australia’s wellbeing has risen to its highest level since mid-2013, with happiness, life satisfaction, life worth and anxiety all improving. Anxiety (especially among young Australians) remains by far the biggest detractor of overall wellbeing, and still a “very high” concern for more than 1 in 3 Australians. Young women (who have historically recorded the lowest wellbeing) saw the biggest gains. WA has the highest level of overall wellbeing, marginally ahead of VIC and QLD.
Wellbeing is most positively influenced by family & personal relationships, our homes & personal safety, while events (e.g. abuse/victimisation), substance use/abuse and a lack of time detract most from personal wellbeing. In our local communities, safety, good local shops, parks and gardens and access to quality internet are the biggest drivers of wellbeing. Access to quality local childcare and local facilities for disabled people added the least.
However, the overall drivers of wellbeing mask important differences in the role that finances play in the wellbeing of high & low income earners. The impact of general finances and money on the wellbeing of high income earners is improving, while for low income earners the situation is getting worse.
For further analysis download the full report.
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