Understanding the economic impacts of COVID-19
Joint Venture Silicon Valley 2021 Index explores impacts
February 16, 2021 – The COVID-19 pandemic has affected every aspect of Silicon Valley’s economy, according to the 2021 Silicon Valley Index, released by Joint Venture’s Institute for Regional Studies. From health impacts of the virus, to employment, IPOs, childcare, hunger, and housing, the pandemic has plowed through every sector. As a timely addition this year, the Index includes a section devoted to the impacts of COVID.
Issues that had long plagued the region have been magnified by the pandemic, notably racial and ethnic disparities, the struggle faced by those unable to keep up with rising costs, and gaping income and wealth divides. “The fact is, success is actually driving inequality,” said Russell Hancock, CEO of Joint Venture.