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Financial Accounts; Detailed labour market data
Record wealth: Total household wealth (net worth) stood at a record $7,318.6 billion at the end of September, up $225.3 billion over the quarter – the biggest quarterly rise in almost four years. In per capita terms, wealth rose to a record $315,117 in the September quarter, up $8,458 over the quarter.
Households held a record $808 billion in cash and deposits at the end of September. Cash and deposit holdings represented 22.1 per cent of financial assets, above the decade average of 20 per cent. Pension funds held 14.8 per cent of assets in cash and deposits, above the long-term average of 8.8 per cent.
Industry employment: Employment rose by 18,400 over the three months to November – the biggest quarterly increase in year. The largest job gains was in Retail trade (up 40,700 – biggest quarterly gain in 16 years), followed by Health Care and Social Assistance (up 32,600) and Agriculture, Forestry and Fishing (up 26,700).
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Source – Savanth Sebastian, Economist, CommSec
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