Which state will have the highest Gini coefficient?

New York was the state with the greatest gap between rich and poor with a Gini coefficient score of 0.51. Although not states, Puerto Rico and the District of Columbia had the highest Gini coefficients in the United States that year.

What is the Gini coefficient of the United States?

In the United States, the Gini index value increased from 46.7% in 2006-2010 to 48.2% in 2015-2019.

What is the range of Gini coefficient?

The coefficient ranges from 0 (or 0%) to 1 (or 100%), with 0 representing perfect equality and 1 representing perfect inequality. Values over 1 are theoretically possible due to negative income or wealth.

Which country has the highest Gini coefficient?

According to their individual focused method, in the 108 countries they studied, South Africa had the world’s highest Gini coefficient at 0.62, Malaysia had Asia’s highest Gini coefficient at 0.5, Brazil the highest at 0.57 in Latin America and Caribbean region, and Turkey the highest at 0.5 in OECD countries.

What is the highest value of a Gini coefficient?

The Gini coefficient ranges from 0 (0%) to 1 (100%), with 0 representing perfect equality and 1 representing perfect inequality. A higher Gini coefficient means greater inequality. If every resident of a nation had the same income, the Gini coefficient would be zero.

What does it mean for high numbers in Gini coefficient?

A high Gini coefficient means that the nation has a high level of income inequality. So the highest earners in society take home a significant proportion of the nations income. How does the Gini Coefficient work? The Gini coefficient is calculated on a scale of 0 to 1, with 1 being perfectly inequal, and 0 being perfectly equal.

What is the Gini coefficient of a normal distribution?

The Gini coefficient, sometimes called the Gini Index or Gini ratio, is a statistical measure of distribution intended to represent the income or wealth distribution of a nation. The Gini coefficient was developed by Italian statistician Corrado Gini in 1912 and is the most commonly used measurement of wealth or income inequality. The Gini coefficient ranges from 0 (0%) to 1 (100%), with 0 representing perfect equality and 1 representing perfect inequality. A higher Gini coefficient means