According to the latest research conducted by the Organisation for Economic Co-operation and Development (OECD), Australia ranks extremely favourably in its Better Life Index. The study found that 75 per cent of us said we were satisfied with our lives, significantly higher than the OECD average of 59 per cent. Moving beyond conventional measures and indicators such as GDP, the index seeks to use a variety of data and sources to assess our overall well-being or happiness.
This included subjective feedback and ratings on a range of indicators that included housing, income, jobs, community, education, environment, health, life satisfaction and work-life balance. These topics were designed to accurately assess our material living conditions and quality of life. In the words of the OECD, "well-being is a multidimensional concept that deserves a multidimensional measure."
The Happy Country?
The "lucky country" tag has been around for a while, though perhaps this should be amended to the "happy country"? While those in the northern hemisphere typically ascribe our sunny outlook to the amenable local climate, the Better Life Index appears to attribute a good portion of our well-being to the robust economy. Australia's rising economic status has allowed us to achieve higher standards of living with access to improved healthcare, education, wages, housing and incomes. The index does go onto stress that money can't buy it all; with strong personal relationships and social contact equally significant determinants of our well-being or happiness.
Ranking Australia
So what makes us so happy? Australia ranks highly in a number of topics, specifically in life expectancy (81.5 years), disposable income and home ownership. Australians also recorded on average more positive experiences than negatives on any day – a subjective category where we scored higher (74 per cent) than the OECD average of 72 per cent. And contrary to local perceptions we work shorter hours than most other OECD countries – some 49 hours less per anum to be precise. The index also looks at the status of women and here again we rank favourably. The female employment and fertility rate, together with the gender wage gap all compare favourably with other OECD members. 71 per cent of mothers also go on to find employment after their children enter school, an indication they are able to sucessfully juggle a career with family commitments.
Room for Improvement
The study does also highlight a few areas of concern. While overall health care provision is on par with other OECD countries, there is an obesity epidemic with half of us classed as overweight. The index also indicated that joblessness among sole parent families, low childcare enrolment rates for young children and an acute shortage of affordable housing all needed to be addressed.
Originally published on Mar 05, 2012
