Guardian Essential poll: Albanese enjoys post-election approval boost last seen with Kevin Rudd

Such a large post-election bounce in net approval was not achieved by the past four prime ministers. Scott Morrison and Tony Abbott both recorded a jump of between 10 and 15 percentage points while Malcolm Turnbull went backwards by 11 points. Julia Gillard recorded a slight bounce in her net approval rating after she was able to form a minority government in 2010.

At a household level, people are divided about their own financial situation, with about a third thinking things will be better, a third fearing things will be worse, and a third believing their circumstances will remain the same.

However, about twice as many people (35%) believe an Albanese-led Labor government is better for the financial health of their household than those who believe a Peter Dutton-led Coalition government would see them faring better (18%).

The rising cost of living remains the No 1 issue of concern for voters, with 77% of people ranking it in their top three priorities, and almost half (44%) nominating it as their number one concern.

Ahead of a Fair Work Commission decision on the minimum wage due on Wednesday, about half of all voters also rated the fact that wages were not keeping up with inflation among their top three issues of concern.