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The Canadian Press - ONLINE EDITION
Report: Silicon Valley economy sees growth in jobs, wealth, but some residents left behind
SAN JOSE, Calif. - A new report says Silicon Valley is creating jobs and wealth for highly skilled workers but may be leaving the rest of the region's residents behind.
The 2012 Silicon Valley Index released Tuesday finds job growth in the high-tech hub far outpaced the country as a whole last year. The region added 42,000 jobs, a jump of nearly 4 per cent, compared to a nationwide increase of little more than 1 per cent.
Job growth occurred in all major sectors of the Silicon Valley economy except manufacturing.
However, the median income in the four-county area covered by the index also fell for the second straight year, dropping by 3 per cent between 2009 and 2010.
The report is compiled annually by two nonprofits.
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Online:
2012 Silicon Valley Index: http://www.jointventure.org
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