The report by the California Budget Project paints a bleak picture for many workers, says Director of the research group, Jean Ross.
“After a period of notable gains, we’ve seen wage growth for California’s workers slow to virtually nothing.”
Corporate profits are a different story. According to the report, between 2001 and 2004, the income reported by corporations for state tax purposes increased by nearly 369 percent – while the hourly wage of the typical California worker rose by 13.3 percent. Ross blames in part, globalization and a decrease in union representation.