What is the “GINI” Statistical Diversion Index?

Posted on September 8, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

What it is – How it works?

[By Staff reporters]

The Gini Coefficient (also known as the Gini index or Gini ratio) is a measure of statistical dispersion intended to represent the income distribution of a nation’s residents, and is the most commonly used measure of inequality.

It is related to the Lorenz Curve and was developed by the Italian statistician and sociologist Corrado Gini and published in his 1912 paper Variability and Mutability.

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MORE: About the Lorenz Curve

MORE: https://www.investopedia.com/terms/g/gini-index.asp

Assessment

Recently, the Gini Index has been in the Atlanta, Georgia news; and not in a good way. Learn why here?

ATLANTA: https://www.bloomberg.com/news/articles/2018-10-10/atlanta-takes-top-income-inequality-spot-among-american-cities

Conclusion

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U.S. INCOME: Falling

Posted on September 18, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

For the third straight year, US incomes fell, according to new Census Bureau data. In 2022, the median household income fell to $74,580, adjusted for inflation. That’s a 2.3% decline from 2021’s median estimate of $76,330, according to the Census Bureau. And the latest figures mark a 4.7% drop from a 2019 peak of $78,250.

Meanwhile, earnings for both part-time and full-time workers fell 2.2% between 2021 and 2022. For full-time, year-round workers, median earnings dropped 1.3% in 2022.

One small bright spot: The Gini index, a measure of income inequality, modestly improved. The income gap between high- and low-income households decreased by 1.2% between 2021 and 2022, marking the first annual decrease since 2007.

GINI INDEX: https://medicalexecutivepost.com/2022/09/24/what-is-the-gini-index/

In all, though, the latest Census data provides a snapshot of American households’ economic troubles, and the abundance of cash-strapped workers has created new challenges for CFOs.

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