Silicon Valley boom eludes many, drives income gap

Silicon Valley boom eludes many, drives income gap
People line up at the food pantry at Sacred Heart Community Service on Friday, Feb. 21, 2014, in San Jose, Calif. Silicon Valley is entering it's fifth year of unfettered growth, with among the highest incomes in the U.S. and the largest share of high-growth, high-wage jobs. Those gains have doubled housing costs in the past five years while wages for low and middle skilled workers are stagnant. Homelessness and racial disparities are on the rise. (AP Photo/Marcio Jose Sanchez)

(AP)—Silicon Valley is entering a fifth year of unfettered growth. The median household income is $90,000. The average single-family home sells for about $1 million. The airport is adding a multimillion-dollar private jet center.

But the river of money flowing through America's tech mecca has also driven to double while wages for low- and middle-skilled workers are stagnant. Now the widening between the wealthy and those left behind is sparking debate, anger and sporadic protests.

Silicon Valley boom eludes many, drives income gap
Two young girls hold hands as their mother sifts through used clothing at Sacred Heart Community Service on Friday, Feb. 21, 2014, in San Jose, Calif. Silicon Valley is entering it's fifth year of unfettered growth, with among the highest incomes in the U.S. and the largest share of high-growth, high-wage jobs. Those gains have doubled housing costs in the past five years while wages for low and middle skilled workers are stagnant. Homelessness and racial disparities are on the rise. (AP Photo/Marcio Jose Sanchez)

Some even with jobs get supplies from a food bank. Rants against the 1 percent are spray-painted on buildings in wealthy towns. Security guards rally outside Apple Inc. demanding better wages with a banner that reads: "What's the matter with Silicon Valley? Prosperity for some, poverty for many. That's what."

© 2014 The Associated Press. All rights reserved.

Citation: Silicon Valley boom eludes many, drives income gap (2014, March 6) retrieved 20 July 2024 from https://phys.org/news/2014-03-silicon-valley-boom-eludes-income.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.

Explore further

Google tries ferry service for workers in East Bay

0 shares

Feedback to editors