MOUNTAIN VIEW (CBS/AP) — A new report says Silicon Valley bounced out of the recession last year, adding jobs, income and initial public offerings.
But the 2013 Silicon Valley Index also finds that Hispanics and African Americans in the world’s high-tech center became increasingly marginalized.READ MORE: California Reopens: Newsom Marks End of COVID Restrictions, Awards $1.5M to 10 Vaccine Recipients
The report by the group, Joint Venture Silicon Valley, was released on Tuesday.
Joint Venture President Russell Hancock says while Silicon Valley’s resilience is impressive, the rebound hasn’t been a cure-all for everyone.READ MORE: 2 Homes Burn in Separate South San Jose Neighborhoods
African Americans’ per capita income fell 18 percent in 2012, while Hispanics’ incomes dropped 5 percent.
Overall, incomes in Silicon Valley rose 2.2 percent last year.
The region experienced a 3.6 percent growth rate, compared to 1.7 percent statewide.MORE NEWS: Will The Ford Maverick Be A Game-Changer In The Auto Industry?
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