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@chameleon54 wrote:
the most accurate indicator of how the state is really doing for ALL individuals ( not just those with a job ) is GSP per capita. This is also the standardised accounting method used world wide to accurately assess productivity.
It's just total income divided by the amount of people in the state and has NOTHING to do with the individual as they are just a number.
For example you could have one source make 100 million dollars and a 1000 people earning a low of $20.000 each for a total of 120 million which makes it just under 120 thousand per capita which looks inflated as it has no benefit for the 1000 low earners so does nothing for them at all.
The NT for instance has a very high number/percentage of people on social security and a low density of piopulation in a big area of land that produced a fair bit of wealth similar to WA who has all those mining operations to help boost the GSP.(Gross state product).
Victoria has none of that on a very small piece of land with a high population so it would be impossible for them to rank high on GSP per capita as they don't have the land mass,mining and such that artificially increase the "wealth" of any state as the profits go into the pockets of the owners who tend to pay very little or no tax.
GSP growth is what determines whether a government is doing better and should be the only barometers on whether they are doing their job or not and currently Victoria sits 2nd alongside NSW at 3%
WA is 1 % and NT is is -1.5% so their governments are lacking a bit in stimulating growth as they probaly don't think they need to as they have a high GSP in place already due to their land mass and resources that are getting stripped from that land.
