Income Gini Ratio of Families by Race of Householder, All Races
This dataset tracks income gini ratio of families by race of householder, all races over time.
Latest Value
0.45
Year-over-Year Change
0.44%
Date Range
1/1/1947 - 1/1/2023
Summary
The Income Gini Ratio measures income inequality within a population. It is a key indicator used by economists and policymakers to analyze the distribution of income and wealth in the United States.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Income Gini Ratio is a statistical measure that represents the income distribution of a nation's residents. It ranges from 0 to 1, with 0 representing perfect equality and 1 representing maximal inequality. This metric is widely used to track trends in income inequality over time.
Methodology
The data is calculated by the U.S. Census Bureau based on household income survey responses.
Historical Context
The Gini ratio informs economic policy decisions related to taxation, social welfare programs, and measures to address income disparities.
Key Facts
- The Gini ratio ranges from 0 to 1, with 0 representing perfect equality.
- Income inequality in the U.S. has increased over the past several decades.
- The Gini ratio is a key metric for assessing the effectiveness of economic policies.
FAQs
Q: What does this economic trend measure?
A: The Income Gini Ratio measures the degree of income inequality within a population. It is a widely used indicator of the distribution of income and wealth.
Q: Why is this trend relevant for users or analysts?
A: The Gini ratio is a critical metric for economists and policymakers to assess income inequality and inform decisions related to taxation, social welfare, and economic policies.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Census Bureau based on responses to household income surveys.
Q: How is this trend used in economic policy?
A: The Gini ratio informs policy decisions related to taxation, social welfare programs, and measures to address income disparities in the United States.
Q: Are there update delays or limitations?
A: The data is released annually by the U.S. Census Bureau, with a typical update delay of several months.
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Citation
U.S. Federal Reserve, Income Gini Ratio of Families by Race of Householder, All Races (GINIALLRF), retrieved from FRED.