2022 E-Insights Report
Income Inequality (Gini Index)
- Minneapolis consistently outperformed most of the MSAs.
- Miami remained at the bottom of the chart in terms of competitive position for all the years.
- Income inequality has been increasing for most of the MSAs, including Tampa Bay, until 2018. It declined slightly in 2019.
- The Tampa Bay MSA’s competitive position has declined over the years, until 2017. It then rose sharply from 18 in 2017 to 10 in 2019.
About: Income inequality refers to the extent to which income is disributed in an uneven
manner among the population. Income inequality is measured by Gini Index, which ranges
from 0 to 1. Gini Index of 0 implies perfect income equality, i.e., every individual
receives equal share. Gini Index of value 1 indicates perfect income inequality, which
implies that only one individual receives all the income.
Source: U.S. Census Bureau, American Community Survey.