Quote:
Originally Posted by Bob Gray
Our cost of living is still fairly low compared to other regions but so are our wages.
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This is one of the things that interests me.
In Australia (especially Sydney) it is seen that we have a really high cost of living. And certainly comparisons have shown that it is one of the more expensive cities to live in.
However as to how much more expensive than other places - it is difficult to directly compare because you need to adjust for wages, taxes, prices, etc.
For example, our basic wage for 20 year olds and over is about $15.51. At 18 it is $10.50 or thereabouts. It is less for apprentices.
But basic wage alone isn't enough to compare. I mean, it is meaningless if no one is getting the basic wage in one country, and in another almost everyone is on basic wage.
Here, I think the average income is around $70K per year, but the median income is below $60K per year. So half the population earns less than $60K per year. This is just for adult full time workers - it doesn't include the unemployed etc.