Aussies feeling anxious on economy, employment

by Maya Breen30 Jan 2015
More than a quarter of Australians are concerned about employment and the economy, with a new survey revealing a decline in overall wellbeing.

NAB has released its latest Quarterly Australian Wellbeing Index for Q4 2014 and annual pulse check showing cost of living as the highest concern for 50 per cent of respondents.

The results show a fall in overall wellbeing from the third quarter and a population living in anxiety.

“Anxiety is still the biggest detractor of personal wellbeing for a significant proportion of Australians,” NAB Chief Economist Alan Oster said, with over 38% admitting they felt anxious the previous day.

Also high on Australians’ radar were concerns for healthcare access (34%), employment (28%), the economy (26%) and terrorism/security (23%).

Across the states, Oster said, “cost of living is a significantly bigger issue in Tasmania. Employment and jobs are also bigger issues in Tasmania, Victoria and SA/NT where unemployment rates have also been among the highest in the country.”

Demographically, cost of living was rated the biggest issue by Australians of all ages, except for those over 50 who were more concerned with access to healthcare.

“Australians aged between 30-49 nominated employment and housing affordability as relatively bigger issues, while more young people identified more with education and income inequality,” Oster said.

Queensland showed highest ratings of wellbeing and Victoria the lowest and within gender, women 50 years and over had the highest wellbeing in contrast to 18-29 year old women reporting the lowest.