Australian residents working in Construction and IT firms are most optimistic about their household finances in the future
Latest data from YouGov Profiles as of February 2023, show that close to half (47%) of all Australian residents say there has been no change in their household finances compared to one month ago. Data from YouGov Profiles reflect cumulative responses over the past 52 weeks.
Three in ten (31%), however, report worsening household finances, while less than one in five (18%) say their financial situation has improved.
When asked how they anticipate their household finances to change over the next 12 months, only 28% of Australian residents expect their situation to remain the same.
In comparison, more than a third (35%) expect their household finances to improve, while over a quarter (26%) of households expect their situation to worsen.
When looking at the various sectors, Australian residents who work in Construction, IT & Telecoms and Accountancy are most optimistic about their household finances in the next 12 months, with half or close to half expecting an improvement.
Additionally, over two in five of Australian residents who work in the Financial Services, Hospitality & Leisure, Legal, Media / Marketing / Advertising / PR & Sales and Manufacturing sectors are also bullish about their household finances changing for the better over the coming year.
On the other hand, those employed in the Manufacturing and Legal sectors are most pessimistic, with three in ten (31%) expecting their household finances to get worse in the next 12 months.
Meanwhile, over a quarter of Australian residents who work in the Medical & Health services (27%) and Education (27%) sector are also bearish about their household finances changing for the worse over the coming year.
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