Australia Yearbook - 2009-10

30.5 WAGES SHARE OF TOTAL FACTOR INCOME
%
62.5
60.0
57.5
55.0
52.5
50.0
1965–66 1979–80 1993–94 2007–08
Source: Australian System of National Accounts (5204.0).
30.6 PROFITS SHARE OF TOTAL FACTOR INCOME
%
27.5
25.0
22.5
20.0
17.5
15.0
12.5
1965–66 1979–80 1993–94 2007–08
Source: Australian System of National Accounts (5204.0).
The profits share of total factor income has been
growing steadily since 1998–99. In 2007–08
profits share was 26.5%, the highest share
recorded.
National income account
The national income account shows the sources
of national income and how much of this income
is spent on final consumption. That part of
income which is not spent in this way is saving.
Table 30.7 shows annual time series from
2003–04 to 2007–08.
Graph 30.8 shows net saving by institutional
sector as a proportion of GDP for the years
1965–66 to 2007–08. Household net saving as a
percentage of GDP generally fluctuated between
6% and 8% between 1965–66 and 1971–72. It
then rose to a peak of 11.5% in 1974–75. The
series then gradually decreased, eventually
reaching its lowest at –1.8% of GDP in 2003–04.
Household net saving as a proportion of GDP
remained negative until 2004–05 and since then
has turned positive and in 2007–08 it was 0.4% of
GDP, and household income exceeded
consumption by $4.0 billion (b) (table 30.9).
General government net saving as a proportion of
GDP was positive from 1965–66 to 1973–74
before turning negative from 1974–75 to 1996–97
(except for 1988–89). It has remained positive
since 1997–98. In 2007–08 general government
net saving was positive at 2.9% of GDP ($32.9b).
In 2007–08 net saving of non–financial
corporations was 0.1% of GDP ($0.6b). Net saving
of financial corporations has been positive at
about 1% to 2% of GDP for virtually all of its
730 Year Book Australia 2009–10