Many Californians are frustrated with the economy due to the disparity between wage growth and surging living costs over the past four years. A study reveals that while some regions like the Inland Empire experienced a 15% wage hike, local costs ballooned by 22%, effectively reducing purchasing power. Los Angeles and Orange counties showed a 6.1% decline in real wages, while the Bay Area saw an even larger drop. This suggests that the issues with real wages and inflation reflect a broader national concern, albeit with California experiencing significant impacts.
"Wages in Riverside and San Bernardino counties grew by 15% from 2020-24, but a 22% increase in living costs cut purchasing power by 5.6%."
"In Los Angeles and Orange counties, real wages fell 6.1% against raises of 12% countered by 20% inflation, demonstrating a severe cost discrepancy."
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