Tech Boom Powers Silicon Valley Jobs as Income Gap Widens

The Silicon Valley-led jobs boom is only going to intensify.

And the economic surge is creating a bigger and bigger "income gap," according to reports.

The Joint Venture Silicon Valley Index revealed 58,000 jobs were added in Silicon Valley in 2014. That's on top of the 44,000 jobs added in 2013.

Economists say that the job boom is not a bubble, unlike 2000 -- but that the income gap is now the size of a typical dot-com 1.0 salary.

The gap between upper-income and "lower income residents" in Silicon Valley is now $92,000, according to the Bay Area News Group.

A high-skill job pays about $118,700, whereas a low-skill job fetches $27,000, the report said.

"The middle class is disappearing," said Russell Hancock, president of the Joint Venture Silicon Valley.

The flourishing economy is also tough on first-time home buyers. The report shows the median home sale price is nearly $756,000.

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