Australians may be the richest people in the world but new research shows the number of people struggling below the poverty line is increasing.
Only days ago a Credit Suisse 2013 Global Wealth Report revealed the median wealth of adult Australians stood at $233,504.
Median wealth is the midpoint between richest and poorest. But UnitingCare research released on Saturday paints a different picture and reveals Australia’s poverty rate has increased since 2000/01 from 10.2 per cent to 11.8 per cent.
Almost one-quarter of the 2.6 million Australians living under the poverty line are dependent children aged under 25, according to the UnitingCare Poverty, Social Exclusion and Disadvantage in Australia report.
Read more: http://www.smh.com.au/national/the-poor-reality-of-rich-australia-20131012-2vemb.html#ixzz332EM7BfJ