Viewing blog posts written by Gino DiCaro
Growing CA industries pay $21k less than declining onesPosted by Gino DiCaro, VP, Communications on Oct. 23, 2014
Last week the California Business Roundtable put out its monthly Employment Report. They showed the job sectors that have grown and declined since the recession started in 2007. They also showed the average wages for each of those collective sectors.
We decided to take it one step further and "weight" the salaries appropriately by jobs gained and lost to understand California's comeback. We learned that since 2007, California's growing industries pay $21,000 less than its declining industries. Specifically the new jobs pay $52,929 and the lost ones pay an average $74,033.
This means that California is rebounding but not nearly as strongly as it should, especially for our middle class working familes. Manufacturing is one sector that can bring higher wage jobs to California. Governor Jerry Brown and his Go-BIZ economic development team have worked hard to try to bring manufacturing back to California. The recent loss of Tesla's 6,500 employee gigafactory hurt but we appreciate the tremendous effort the Administration put forward to try to secure Tesla's investment here in California. Here's to re-doubling our efforts to bringing more large-scale, high-wage manufacturing to California.
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