Australians’ satisfaction levels are at their lowest levels, with young people the most despondent.
The latest Australian Unity Wellbeing Index has revealed overall satisfaction with our personal lives remained close to its lowest level recorded.
The report, created in partnership with Deakin University, also stated our satisfaction with life in Australia had reached its lowest level in the survey’s 24-year history.
Deakin University School of Psychology Research Fellow and lead researcher Kate Lycett said young adults were of particular concern.
Dr Lycett said people aged 18-34 years reported the highest feelings of mental distress and loneliness and some of the lowest levels of personal wellbeing of any group across the adult lifespan.
“Our latest data shows that Australians’ wellbeing remains low, with concerning income and age inequities persisting,” she said.
“These findings go against our expectations of social progress, where each generation will be better off than the next, and point to an urgent need to tackle growing national inequities.”
Dr Lycett said the survey, conducted in June this year, measured subjective wellbeing in more than 2000 adults aged 18 years and older across a series of personal and national areas, including the economy, health, and community connectedness.
She said, this year, researchers also explored how subjective and objective financial factors intersected with subjective wellbeing, following record low economic satisfaction in 2023.
The survey found there were generational divides in financial wellbeing
“One in two adults under 55 years old reported going without essential items because of money pressures and felt financially worse off than their parents were at their age.”
Dr Lycett said the report showed that financial deprivation mattered to personal wellbeing.
“Once again, those facing financial hardship, such as insecure housing, low incomes, or unemployment, reported some of the lowest levels of personal wellbeing.
“In 2024, we need to ask ourselves, and particularly those in power, what type of country do we want to be — if we want to boost our collective wellbeing, we need to deal with the big issues facing our nation and stop tinkering at the edges.”
Download the full report: Australian Unity Wellbeing Index 2024
