Nine out of 10 Silicon Valley jobs pay less now than they did 20 years ago.
Researchers from U-C Santa Cruz say the Valley’s business models concentrate wealth by systematically shortchanging workers and the communities they live in. Study lead author Cris Benner told KSCO News that few workers really benefit from the success of the companies they work for.
Other findings from the study:
- Over the past two decades, per capita economic output in Silicon Valley increased 74 percent, yet inflation-adjusted wages fell for nearly 90 percent of jobs.
- The proportion of middle- and high-paid jobs in the area has decreased during the past 20 years, while the proportion of low-paid jobs grew.
