Northern Rivers named ninth worst economic region in Aust
THE Northern Rivers has been named the 58th best economic performer of the country's 67 regions in the 2015-16 State of the Regions report.
The Australian Local Government Association research found the average Northern Rivers household had $609,000 in wealth and assets in 2015 - up from $550,000 in 2012.
The average Australian household's wealth was estimated at $713,000, with Sydney's Eastern Beaches figure reaching the highest amount at $1.73 million.
Employed residents in the Northern Rivers earned on average $38.40 per hour and worked 32.1 hours a week.
But the unemployment rate has reached 7.6%, compared to 6.5% in 2013 and 6.9% in 2010.
The number of Northern Rivers residents receiving benefits is also on the rise, reaching 22.1% in 2015 - up from 20.9% in 2013 and 19.6% in 2010.
The research found the average mortgage burden for homes in the region is 37.2% of the dwelling's value, with homes worth an average of $383,000.
Household wealth - $609,000
Average wage - $38.40 per hour
Working hours - 32.1 per week
Unemployment rate - 7.6%
Receiving social benefits - 22.1%
Average home worth - $383,000
Mortgage burden - 37.2% of home's value