Lifelong economic wellbeing

What does Lifelong Economic Well-being mean to women in Australia today?

Increasing concerns about the adequacy of traditional macro-economic statistics, such as Gross Domestic Product (GDP), as measures of people’s current and future living conditions have led to growing apprehensions about the relevance of these figures in measuring national and/or societal well-being. Concerns relating to the comparability and all-inclusiveness of the statistics being produced at the micro level have recognised that there are insufficiencies and the need to add to, and improve upon existing measures of household income, consumption and wealth in the process of developing more comprehensive measures of human well-being.

Promoting women’s ability to secure decent work, predictable, sustainable and liveable incomes, equitable access to career progress, accumulate relevant assets, and a life without fear of violence, neglect and the feminisation of poverty, is critical. A further challenge for women is the continuing ‘triple shift’ of added home duties and primary care of children and increasingly of older/elderly family.

Addressing and achieving these outcomes requires a focus that involves a robust study to measure the barriers women face to their economic security throughout every decade of their lives. Strong, directed advocacy is needed to tackle these issues, to influence governments, institutions and the public and to take actions so women can more readily live with lifelong economic well-being and fully engage in the economic, social and political life of the nation.

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