Wealth inequality has widened along racial, ethnic lines since end of Great Recession

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39. It sucks even in Silicon Valley

I write about this.

http://peoplesworld.org/state-of-silicon-valley-2015-a-tale-of-two-americas/

"Hardest hit by income inequality are Blacks and Latinos, who are surviving on much less than the now recommended minimum {for the Bay Area} of $84,000 per year for a family of four. Among the findings reported in the 2015 Index are:

* "There is a large gap between the highest and lowest earning racial/ethnic groups, which is larger in Silicon Valley ($44,037) and San Francisco ($50,069) than in California ($28,332) or the United States ($17,716)."

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Family income determines child poverty, and poverty in Silicon Valley hits Black and Latino children the hardest. "Per capita income increased in Silicon Valley (Santa Clara and San Mateo Counties) between 2011 and 2013 for all racial and ethnic groups, excluding Black or African American residents. White residents continued to have the highest per capita income ($64,998 in 2013, adjusted for inflation), and Hispanic or Latino residents continued to have the lowest ($20,961) and saw more modest income gains. The economic recovery that came swiftly for Silicon Valley after the Great Recession has not reached all residents here: "Per capita incomes for Black or African American and Hispanic or Latino residents in 2013 were still well below pre-recession values, down 20 and 12 percent, respectively since 2007." (2015 Index)

I am concerned that there will be a removal, via the rental increases here, which are fucking insane, of nearly all working class minorities to the outlying, semi-rural suburbs, at some distance from the jobs here.