Income Gini Ratio for Households by Race of Householder, Black Alone or in Combination
GINIBAOICH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.50
Year-over-Year Change
-0.20%
Date Range
1/1/2002 - 1/1/2023
Summary
The Income Gini Ratio for Households by Race of Householder, Black Alone or in Combination measures income inequality within the Black population in the United States. It is a key economic indicator used by policymakers to understand the distribution of income and wealth.
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 of income distribution, ranging from 0 (perfect equality) to 1 (maximum inequality). This series specifically examines the Gini ratio for Black households, providing insights into economic disparities within the Black community.
Methodology
The data is collected through the U.S. Census Bureau's Current Population Survey.
Historical Context
The Gini ratio is widely used by economists and policymakers to inform decisions on tax policies, social programs, and economic development initiatives.
Key Facts
- The Gini ratio for Black households was 0.472 in 2021.
- Income inequality has remained persistently high within the Black community.
- Reducing economic disparities is a key policy goal for many governments and organizations.
FAQs
Q: What does this economic trend measure?
A: The Income Gini Ratio for Households by Race of Householder, Black Alone or in Combination measures the level of income inequality within the Black population in the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the distribution of income and wealth within the Black community, which is crucial for policymakers and researchers studying economic disparities and developing strategies to promote greater 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: The Gini ratio is widely used by economists and policymakers to inform decisions on tax policies, social programs, and economic development initiatives aimed at addressing income inequality and promoting inclusive growth.
Q: Are there update delays or limitations?
A: The data is updated annually by the U.S. Census Bureau, and there may be a lag of several months between the reference period and the release of the data.
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Citation
U.S. Federal Reserve, Income Gini Ratio for Households by Race of Householder, Black Alone or in Combination (GINIBAOICH), retrieved from FRED.