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According to a December 2020 analysis of W-2 earnings data from the Economic Policy Institute U.S. income inequality is worsening, as the earnings of the top 1% nearly doubled from 7.3% in 1979 to 13.2% in 2019 while over the same time period the average annual wages for the bottom 90% have stayed within the $30,000 range, increasing from ...
Therefore, a lower Gini score is roughly associated with a more equal distribution of income and vice versa. In 2018 U.S. income inequality as measured by the Gini index was close to the highest recorded values ever. [15] [16] The information was tabulated in 2019 from data from the American Community Survey (ACS) conducted by the US Census Bureau.
2023 47.15 2022 47.2 2022 Cuba: Caribbean: Upper middle income 38.00 2000 Cyprus: Western Asia: High income 31.3 2021 31.25 2022 Czech Republic: Eastern Europe: High income 26.2 2021 26.24 2022 25.5 2021 Germany: Western Europe: High income 32.4 2020 30.64 2022 Djibouti: Eastern Africa: Lower middle income 41.6 2017 41.59 2017
The Italian statistician Corrado Gini developed the Gini coefficient and published it in his 1912 paper Variabilità e mutabilità (English: variability and mutability). [16] [17] Building on the work of American economist Max Lorenz, Gini proposed using the difference between the hypothetical straight line depicting perfect equality and the actual line depicting people's incomes as a measure ...
The concept of inequality is distinct from that of poverty [5] and fairness. Income inequality metrics (or income distribution metrics) are used by social scientists to measure the distribution of income, and economic inequality among the participants in a particular economy, such as that of a specific country or of the world in general.
The Wealth Gini coefficients from 2008 are based on a working paper published by the National Bureau of Economic Research. [5] The Wealth Gini numbers for 2018, 2019, and 2021 come from the Global Wealth Databook by Credit Suisse. [6] [7] [8] * indicates "Wealth inequality in COUNTRY or TERRITORY" or "Income inequality in COUNTRY or TERRITORY ...
The closer the Gini Coefficient is to one, the closer its income distribution is to absolute inequality. In 2007, the United Nations approximated the United States' Gini Coefficient at 41% while the CIA Factbook placed the coefficient at 45%. The United States' Gini Coefficient was below 40% in 1964 and slightly declined through the 1970s.
Compared to the Gini coefficient in practice, CV puts higher weight on the right tail of the scale, making it sensitive to the rich. Coefficient of variation may be a suitable choice of measure if the goal of a study is to analyze the wealth concentration at the top of the distribution. [17] [18]