Report warns of worsening wealth gap in Silicon Valley
“Approximately 33% of Silicon Valley households are not self-sufficient, meaning they require assistance from the government or community. For Latino residents, that figure is 61%; for non-citizen Latino residents, it’s 82%; for Latino families where neither parent speaks English, the figure is 90%. Hancock said 46% of children in Silicon Valley live in households that are not self-sufficient.
Silicon Valley cities generally have higher minimum wage standards than the rest of California. But these wages are still grossly insufficient, Hancock said.
‘It is not possible to survive in Silicon Valley on even the highest minimum wage,’ Hancock said. As an example, he said each member of a two-person household would need to make $18.50 per hour to cover the most basic essentials of food, housing and transportation.”