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Yahoo
5 days ago
- Business
- Yahoo
How Much Income Inequality Exists in Every State
Across 41 states, the bottom 20% make less than $20,000 on average. Meanwhile, the top 20% earn more than $250,000 in 25 states — accounting for half of America. While it's not exactly a new development to hear income inequality persists in every state, recent data compiled by GOBankingRates reveals the lines between massive wealth and abject poverty are increasingly stark. Learn More: See Next: GOBankingRates was able to determine the amount of income inequality by sourcing the 2023 American Community Survey for each state's Gini index, which summarizes the dispersion of income across the country. The Gini coefficient ranges from 0 (perfect equality) to 1 (perfect inequality). No state received a 0. Additional factors analyzed include the bottom 20% of earners' average income, the top 20% of earners' average income, the top 5% of earners' average income and top 5% of earners' share of wealth. The bottom 20% earn less than $20,000 in 41 states. By sharp comparison, the top 20% earn $300,000 in 10 states: New York (#1), Connecticut (#2), California (#4), Massachusetts (#5), New Jersey (#10), Virginia (#20), Washington (#25), Colorado (#32), Maryland (#34) and Hawaii (#42). New York has the most income inequality. New York is also one of five states where the top 5% earn $600,000 on average. Connecticut, California, Massachusetts and New Jersey round out the remaining states. Louisiana ranks third. While California, Connecticut, Massachusetts and New York are all well known for their expense, Louisiana is by far the lowest cost state to rank in the top five for income inequality. The top 5% have a 25% share of wealth in New York and Connecticut. Across the United States, this amounts to more than 20% in 47 states. Alaska is the only state where the top 5% have less than a 20% share of wealth — but at 19.4% it won't be long before the top 5% has a 20%+ share of wealth in every US state. Ranked from highest to lowest Gini index, keep reading to view the amount of income inequality in every state. Discover More: Find Out: Bottom 20% average income: $15,334 Top 20% average income: $342,150 Top 5% average income: $646,648 Top 5% share of wealth: 25.7% Gini index (0-1): 0.5152 Read Next: Bottom 20% average income: $18,939 Top 20% average income: $358,875 Top 5% average income: $676,016 Top 5% share of wealth: 25% Gini index (0-1): 0.4984 Bottom 20% average income: $11,406 Top 20% average income: $223,489 Top 5% average income: $394,301 Top 5% share of wealth: 23% Gini index (0-1): 0.4944 Bottom 20% average income: $19,606 Top 20% average income: $356,382 Top 5% average income: $638,872 Top 5% share of wealth: 23.4% Gini index (0-1): 0.4887 Bottom 20% average income: $18,796 Top 20% average income: $364,076 Top 5% average income: $642,510 Top 5% share of wealth: 22.8% Gini index (0-1): 0.4877 Bottom 20% average income: $16,315 Top 20% average income: $266,051 Top 5% average income: $499,610 Top 5% share of wealth: 24.5% Gini index (0-1): 0.4849 For You: Bottom 20% average income: $11,083 Top 20% average income: $197,470 Top 5% average income: $346,882 Top 5% share of wealth: 22.5% Gini index (0-1): 0.4840 Bottom 20% average income: $13,044 Top 20% average income: $212,270 Top 5% average income: $385,873 Top 5% share of wealth: 23.4% Gini index (0-1): 0.4807 Bottom 20% average income: $16,674 Top 20% average income: $289,355 Top 5% average income: $521,013 Top 5% share of wealth: 23.1% Gini index (0-1): 0.4802 Bottom 20% average income: $20,700 Top 20% average income: $359,314 Top 5% average income: $632,685 Top 5% share of wealth: 22.6% Gini index (0-1): 0.4800 Bottom 20% average income: $12,871 Top 20% average income: $219,518 Top 5% average income: $384,038 Top 5% share of wealth: 22.3% Gini index (0-1): 0.4783 Try This: Bottom 20% average income: $15,866 Top 20% average income: $264,953 Top 5% average income: $472,175 Top 5% share of wealth: 22.8% Gini index (0-1): 0.4779 Bottom 20% average income: $13,043 Top 20% average income: $219,022 Top 5% average income: $395,106 Top 5% share of wealth: 22.9% Gini index (0-1): 0.4776 Bottom 20% average income: $12,418 Top 20% average income: $216,944 Top 5% average income: $373,030 Top 5% share of wealth: 21.8% Gini index (0-1): 0.4774 Bottom 20% average income: $14,418 Top 20% average income: $237,160 Top 5% average income: $428,094 Top 5% share of wealth: 23.1% Gini index (0-1): 0.4773 Bottom 20% average income: $16,872 Top 20% average income: $272,904 Top 5% average income: $487,366 Top 5% share of wealth: 22.8% Gini index (0-1): 0.4765 Be Aware: Bottom 20% average income: $15,742 Top 20% average income: $249,042 Top 5% average income: $446,248 Top 5% share of wealth: 22.9% Gini index (0-1): 0.4760 Bottom 20% average income: $15,072 Top 20% average income: $238,504 Top 5% average income: $435,202 Top 5% share of wealth: 23.3% Gini index (0-1): 0.4755 Bottom 20% average income: $16,609 Top 20% average income: $266,309 Top 5% average income: $473,542 Top 5% share of wealth: 22.6% Gini index (0-1): 0.4737 Bottom 20% average income: $19,781 Top 20% average income: $316,724 Top 5% average income: $547,015 Top 5% share of wealth: 21.8% Gini index (0-1): 0.4716 Bottom 20% average income: $12,333 Top 20% average income: $197,286 Top 5% average income: $340,667 Top 5% share of wealth: 21.6% Gini index (0-1): 0.4697 Read More: Bottom 20% average income: $14,390 Top 20% average income: $219,134 Top 5% average income: $389,979 Top 5% share of wealth: 22.3% Gini index (0-1): 0.4675 Bottom 20% average income: $15,460 Top 20% average income: $237,659 Top 5% average income: $420,966 Top 5% share of wealth: 22.2% Gini index (0-1): 0.4674 Bottom 20% average income: $17,024 Top 20% average income: $258,414 Top 5% average income: $470,305 Top 5% share of wealth: 22.9% Gini index (0-1): 0.4669 Bottom 20% average income: $21,589 Top 20% average income: $325,947 Top 5% average income: $574,868 Top 5% share of wealth: 22.2% Gini index (0-1): 0.4660 Bottom 20% average income: $15,897 Top 20% average income: $234,836 Top 5% average income: $420,563 Top 5% share of wealth: 22.4% Gini index (0-1): 0.4652 View Next: Bottom 20% average income: $15,909 Top 20% average income: $240,130 Top 5% average income: $419,606 Top 5% share of wealth: 21.8% Gini index (0-1): 0.4639 Bottom 20% average income: $16,750 Top 20% average income: $237,041 Top 5% average income: $430,052 Top 5% share of wealth: 22.7% Gini index (0-1): 0.4634 Bottom 20% average income: $17,609 Top 20% average income: $259,767 Top 5% average income: $461,363 Top 5% share of wealth: 22.2% Gini index (0-1): 0.4624 Bottom 20% average income: $17,956 Top 20% average income: $269,437 Top 5% average income: $470,649 Top 5% share of wealth: 21.7% Gini index (0-1): 0.4621 Bottom 20% average income: $17,075 Top 20% average income: $276,548 Top 5% average income: $477,607 Top 5% share of wealth: 21.2% Gini index (0-1): 0.4607 Explore More: Bottom 20% average income: $21,409 Top 20% average income: $307,101 Top 5% average income: $538,026 Top 5% share of wealth: 21.7% Gini index (0-1): 0.4576 Bottom 20% average income: $16,977 Top 20% average income: $237,505 Top 5% average income: $418,624 Top 5% share of wealth: 21.7% Gini index (0-1): 0.4567 Bottom 20% average income: $21,505 Top 20% average income: $327,400 Top 5% average income: $554,828 Top 5% share of wealth: 20.7% Gini index (0-1): 0.4560 Bottom 20% average income: $18,092 Top 20% average income: $247,090 Top 5% average income: $447,231 Top 5% share of wealth: 22.3% Gini index (0-1): 0.4556 Bottom 20% average income: $17,493 Top 20% average income: $240,712 Top 5% average income: $425,080 Top 5% share of wealth: 21.8% Gini index (0-1): 0.4555 Trending Now: Bottom 20% average income: $17,522 Top 20% average income: $246,410 Top 5% average income: $437,736 Top 5% share of wealth: 21.8% Gini index (0-1): 0.4551 Bottom 20% average income: $18,239 Top 20% average income: $252,655 Top 5% average income: $434,633 Top 5% share of wealth: 21% Gini index (0-1): 0.4522 Bottom 20% average income: $16,520 Top 20% average income: $226,387 Top 5% average income: $396,992 Top 5% share of wealth: 21.4% Gini index (0-1): 0.4520 Bottom 20% average income: $21,058 Top 20% average income: $282,691 Top 5% average income: $497,204 Top 5% share of wealth: 21.5% Gini index (0-1): 0.4500 Bottom 20% average income: $19,803 Top 20% average income: $266,218 Top 5% average income: $463,843 Top 5% share of wealth: 21.2% Gini index (0-1): 0.4495 View More: Bottom 20% average income: $21,178 Top 20% average income: $310,254 Top 5% average income: $526,148 Top 5% share of wealth: 20.5% Gini index (0-1): 0.4495 Bottom 20% average income: $17,308 Top 20% average income: $235,402 Top 5% average income: $417,388 Top 5% share of wealth: 21.4% Gini index (0-1): 0.4483 Bottom 20% average income: $17,834 Top 20% average income: $230,785 Top 5% average income: $414,593 Top 5% share of wealth: 21.8% Gini index (0-1): 0.4470 Bottom 20% average income: $17,958 Top 20% average income: $231,690 Top 5% average income: $405,907 Top 5% share of wealth: 21.2% Gini index (0-1): 0.4447 Bottom 20% average income: $19,548 Top 20% average income: $240,204 Top 5% average income: $431,824 Top 5% share of wealth: 21.9% Gini index (0-1): 0.4442 Discover Next: Bottom 20% average income: $18,642 Top 20% average income: $238,669 Top 5% average income: $418,668 Top 5% share of wealth: 21.1% Gini index (0-1): 0.4434 Bottom 20% average income: $23,065 Top 20% average income: $297,363 Top 5% average income: $507,282 Top 5% share of wealth: 20.4% Gini index (0-1): 0.4414 Bottom 20% average income: $21,333 Top 20% average income: $270,877 Top 5% average income: $445,464 Top 5% share of wealth: 19.4% Gini index (0-1): 0.4333 Bottom 20% average income: $24,390 Top 20% average income: $276,288 Top 5% average income: $483,169 Top 5% share of wealth: 20.6% Gini index (0-1): 0.4277 Methodology: For this piece GOBankingRates looked at all states and found the following factors for each state: (1) Gini Index measuring income inequality (definition below); (2) bottom 20% of earners' average income; (3) top 20% of earners' average income; (4) top 5% of earners' average income; (5) bottom 20% of earners' share of wealth; (6) top 20% of earners' share of wealth; (7) top 5% of earners' share of wealth; (8) median household income; and (9) average household income. For rankings only factor (1) was considered. All data was sourced from the 2023 American Community Survey as conducted by the U.S. Census Bureau. All data was collected on and is up to date as of May 29, 2025. Gini Index: The Gini Index is a summary measure of income inequality. The Gini coefficient incorporates the detailed shared data into a single statistic, which summarizes the dispersion of income across the entire income distribution. The Gini coefficient ranges from 0, indicating perfect equality (where everyone receives an equal share), to 1, perfect inequality (where only one recipient or group of recipients receives all the income). The Gini is based on the difference between the Lorenz curve (the observed cumulative income distribution) and the notion of a perfectly equal income distribution. More From GOBankingRates Mark Cuban Warns of 'Red Rural Recession' -- 4 States That Could Get Hit Hard Clever Ways To Save Money That Actually Work in 2025 8 Common Mistakes Retirees Make With Their Social Security Checks This article originally appeared on How Much Income Inequality Exists in Every State
Bloomberg
02-06-2025
- Business
- Bloomberg
South Africa's Black Empowerment Laws and the Long Shadow of Apartheid
During the eras of colonialism and apartheid, Black South Africans were subjugated, denied a decent education, and excluded from the mainstream economy. Severe racial disparities endure to this day, more than three decades after the end of White-minority rule. South Africa ranks as one of the world's most unequal countries, according to analysis by the World Inequality Lab. The government has introduced a series of policies to try to narrow the wealth gap. While these Black-economic-empowerment measures have helped diversify corporate ownership and grow a Black middle class, critics say a small, politically connected elite have been the primary beneficiaries.
