Silicon Valley’s spectacular job growth creates ‘harsh environment’ for many residents, report says

SAN JOSE, California: Silicon Valley's robust economy has added jobs for the last eight years in a row, but the region's rising wages have failed to keep pace with skyrocketing home prices, a new economic study revealed. 

A population surge is underway in Silicon Valley, with a net gain of one person every 46 minutes – 32 people a day – but the huge housing and living costs are making life difficult for many, according to the Silicon Valley Index, released by Joint Venture Silicon Valley's Institute for Regional Studies.