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Two related studies published by Working Partnerships USA and of Everett Program report a Growing disparity in wages for Silicon Valley employees according to the economic models applied today by technological companies. Working Partnerships USA, in particular, is asking companies like Apple and Google to support fixed-term and low-wage workers.
The study reveals that since the 1970s, productivity growth in the region has no longer been directly proportional to wage growth. Silicon Valley is now the region with the highest economic growth per capita, but this is not reflected in workers' incomes. Only 10% of registered jobs salary increase in the last 20 years and corresponds to the higher paying jobs.
According to the report, the current economic model is causing this distortion, with most of the gains made today. venture capitalists, financiers and executives. In addition, researchers argue that the disconnect between productivity and wage growth is exacerbated by the "almost monopolistic" nature of the industry, citing the Google, Facebook and Amazon domains in crucial areas.
The study found that per capita GDP in the San Jose region has increased by 74 percent over the last 16 years, while the average salary of workers in Silicon Valley has decreased by 14 percent. The study also revealed that the percentage of low-paid jobs had increased by 9%, while middle and high-wage workers had dropped by 3% and 4% respectively.
The full version of the study is on Mercury News.
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