Source: Silicon Valley Business Journal
The state of California has ranked first in a nationwide study on poverty and income levels.
According the the US Census Bureau, California has the highest poverty rate when both cost of living and income levels are combined.
However, when solely factoring income, the state ranks 17th with a 15 percent poverty rate.
Despite the wealth accumulated in the state, researchers found the high cost of living in certain areas, especially the Bay Area and Los Angeles, alienates many with lower paying jobs.
As a result of the high cost of living, many companies are relocating or opening different locations in other states.
Read Full Story: Silicon Valley Business Journal