According to the Organization for Economic Cooperation and Development’s Better Life Index, Australia ranked the world’s developed economies on criteria such as jobs, income, environment and health. The country kept the top spot for the third year running, ahead of Sweden— also known for its high living standards and robust economy— and Canada, a rival resource-exporting nation that, like Australia, has reaped the benefits of increasing Asian demand for raw materials.
Australia’s high rank in the OECD index— based on data from the United Nations, individual governments and other sources— is largely due to its economy. The nation mostly sidestepped the economic woes afflicting much of the developed world after the financial crisis and has expanded for 21 years straight without a recession. Unemployment stood at 5.5% in April from 5.6% in March, compared with 12.1% in the euro zone.