It has improved, but is still not great. Just before the time this song came out, many Aboriginal children were being taken from their families and re-homes with white families - The "Stolen Generation" it is referred to. Since then there has been efforts to improve the situation and make right the wrongs of the past. Reconciliation has been a big thing in Australian politics for a number of years, but there is still a big disparity in living standards between white Australia and the original inhabitants (who's history stretches back 40,000 years in this land).
Improved, but still a long way to go.
Yeah, I figured that was the case, some improvement is better than none though. Was learning about Uluru the other day and how the land is sacred ground for the Aboriginal people, it is good to see that they are steps to preserve their heritage.