Gini Index

The Gini Index (also referred to as the “Gini Coefficient” and named after statistician Corrado Gini) indicates the extent of income inequality in a place. At its minimum, the Gini Index equals 0 in conditions of absolute income equality, in which every person earns the same income. At its maximum, the Gini Index varies equals 1 in conditions of absolute income inequality, in which one person earns all the income and everyone else earns none. No place has perfect income equality or perfect income inequality; the actual value of the Gini Index for a place lies between 0 and 1. The higher the Gini Index for a place, the greater the degree of income inequality in that place.

For more information on the Gini Index, additional resources are available here and here.