A year into the pandemic, Silicon Valley has experienced historic losses and unprecedented gains as the virus has disproportionately impacted the area's poorest residents. Unemployment among the region's lowest earners reached nearly double the rate of the highest earners. And while the in-person jobs sector shrank, the tech industry experienced a banner year. Families facing housing insecurity reached an all-time high, while a hot real estate market outpaced pre-pandemic numbers.
To show how the pandemic has accelerated the region's economic divide, the Palo Alto Weekly, The Almanac and Mountain View Voice have woven together data based on Joint Venture Silicon Valley's State of the Valley report into a by-the-numbers graphic.
Information taken from data sourced in "2021 Silicon Valley Index," Joint Venture Silicon Valley, unless otherwise noted.
The virus: Health department dashboards from Santa Clara and San Mateo counties (cases, deaths, vaccines).
Housing and necessities: U.S. Census Bureau, Household Pulse & Community Resilience Estimates (mortgage & rent); *MLS data January 2019 - March 2021 for Midpeninsula, courtesy Realtor Xin Jiang (median sales price, homes sold); CalFresh applications U.S. Census Bureau, Household Pulse Survey (food, health care, mental health); Silicon Valley Regional Response Funds (local relief).
Labor market: Employment Development Department year-over-year change in Santa Clara and San Mateo counties; U.S. Bureau of Labor Statistics Quarterly Census of Employment and Wages; United States Small Business Administration (PPP loans).
Tech boom: GDP Moody's Economy.com, 2020 (GDP); Venture Capital Thomson ONE, 2020 (venture capital); Renaissance Capital, 2020 (initial public offerings); *Market Watch "Big tech is swallowing the rest of Silicon Valley, by Jon Swartz (cumulative sales); JLL/ Analysis: Silicon Valley Institute for Regional Studies (commercial development).
Economy *California State Budget, ebudget.ca.gov (state budget); *city of Palo Alto, 2020.
*Information not included in "2021 Silicon Valley Index."
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Find comprehensive coverage on the Midpeninsula's response to the new coronavirus by Palo Alto Online, the Mountain View Voice and the Almanac here.