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<br /> <br />The Effects of a $15 Minimum Wage by 2019 in Santa Clara County and San Jose 13 <br /> <br />Figure 4 depicts trends in the employment rate - the share of the working age population that is <br />employed. This indicator is a companion to the unemployment rate as it counts workers who <br />stopped looking for work and those who want more hours of work. Santa Clara County has <br />experienced rapid employment growth over the recovery. Over 62 percent of Santa Clara County <br />residents are employed compared to 57 percent for the state as a whole. Figure 4 shows that the <br />earnings of typical workers in Santa Clara County far outpace earnings for workers in San Jose <br />and the state overall. Median annual earnings in Santa Clara County are $52,377 (in 2014 <br />dollars) which is 49.6 percent higher than the state as a whole. Annual earnings in San Jose are <br />$43,313 (in 2014 dollars), which is 20.9 percent higher than the state as a whole, but 17.3 <br />percent less than median earnings in Santa Clara County. <br />However, pay in both the county and the state is lower than it was in 2007. In Santa Clara <br />County, after accounting for inflation, earnings of typical workers have declined by 8.3 percent, <br />compared to pre-recession levels. The pay of typical workers in the City of San Jose is 10.5 <br />percent lower compared to the 2007 per-recession level. These patterns suggest that inequality <br />has continued to increase even during economic expansions.3 <br />Figure 5. Real median earnings, 2007-2014 <br /> <br />Source: American Community Surveys 2007-2014. <br />Note: Median annual earnings for workplace geography in real 2014 inflation-adjusted dollars for <br />workers 16 years and over with earnings. <br />In summary, unemployment and employment trends show that California’s economic recovery <br />has strengthened substantially in recent years—and even more so in Santa Clara County and San <br />Jose. Median annual earnings are considerably higher in Santa Clara County and San Jose than <br />in the state as a whole. However, the earnings of typical workers have declined despite the <br />economy recovery. <br />8.A. - Page 27