Income Gini Ratio of Families by Race of Householder, Black Alone
This dataset tracks income gini ratio of families by race of householder, black alone over time.
Latest Value
0.48
Year-over-Year Change
0.21%
Date Range
1/1/2002 - 1/1/2023
Summary
The Income Gini Ratio of Families by Race of Householder, Black Alone measures income inequality within the Black population in the United States. It is a key indicator for understanding economic disparities and guiding policies aimed at reducing inequality.
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 reflects the degree of income inequality within a population. A value of 0 represents perfect equality, while 1 indicates complete inequality. This series specifically examines the Gini ratio for Black families, providing insight into the income distribution and economic well-being of this demographic.
Methodology
The data is collected through the U.S. Census Bureau's Current Population Survey.
Historical Context
Policymakers and economists use this metric to assess trends in income inequality and inform policies and programs aimed at promoting economic equity.
Key Facts
- The Income Gini Ratio for Black families was 0.447 in 2021.
- Income inequality has increased among Black families since the 1960s.
- The Gini ratio for Black families is consistently higher than the national average.
FAQs
Q: What does this economic trend measure?
A: The Income Gini Ratio of Families by Race of Householder, Black Alone measures the degree of income inequality within the Black population in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into economic disparities and the distribution of income within the Black community, which is crucial for informing policies and programs aimed at promoting greater economic equity.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's Current Population Survey.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess trends in income inequality and inform policies and programs aimed at promoting economic equity.
Q: Are there update delays or limitations?
A: The data is updated annually, and there may be some delays in the release of the latest figures.
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Citation
U.S. Federal Reserve, Income Gini Ratio of Families by Race of Householder, Black Alone (GINIBAF), retrieved from FRED.