Nearly one in 10 Australians are now experiencing what researchers describe as “wellbeing poverty”, with the number of people reporting very low life satisfaction doubling over the past decade, according to new data from the Australian Bureau of Statistics (ABS)
The findings estimate that around 2.2 million Australians aged 15 and above are living with severe life dissatisfaction, highlighting growing concerns over the country’s social and economic wellbeing
Life satisfaction falls sharply
An analysis of the ABS General Social Survey found that 9.7 per cent of Australians rated their overall life satisfaction at four or below on a scale of 10
In comparison, only 4.8 per cent of Australians reported similarly low satisfaction levels in 2014, indicating a significant rise over the past decade
Researchers said the figures point to a growing number of people struggling with their quality of life despite Australia’s relatively strong economy
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Cost-of-living pressures weigh on Australians
Experts attribute the decline in wellbeing to a combination of factors, including the lingering effects of the Covid-19 pandemic and the country’s ongoing cost-of-living crisis
While life satisfaction dropped during pandemic lockdowns, researchers say it has failed to recover as many households continue to grapple with rising costs
According to the analysis, inflation-adjusted household disposable incomes have remained largely unchanged since mid-2020, while the prices of essentials such as electricity, healthcare and insurance have continued to rise
AMP Chief Economist Shane Oliver said consumer confidence has remained at recession-like levels, with many Australians feeling that major life goals, particularly home ownership, have become increasingly unattainable
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Declining trust and community engagement
The report also found that lower life satisfaction is linked to weaker trust in institutions and reduced participation in community life
Only 15 per cent of Australians experiencing wellbeing poverty said they felt they had a say in important local decisions, compared with 46 per cent of people who reported high life satisfaction
Those with lower wellbeing also expressed less trust in public institutions and fellow citizens, while showing lower levels of community involvement
The survey found differences in attitudes towards multiculturalism as well, with 60 per cent of respondents experiencing low life satisfaction viewing it positively, compared with the national average of 80 per cent
Despite the findings, researchers said stronger community ties could help improve wellbeing
Australia’s social cohesion index has remained stable over the past three years, suggesting that strong neighbourhood relationships continue to play an important role in people’s overall happiness
