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Recently, Joint Venture of Silicon Valley Network released their annual index report. Of the several interesting stats and figures, I find this tidbit alarming: “The number of mid-wage jobs in Silicon Valley has been shrinking in recent years—from 603,350 in 2002 to 541,300 in 2006. In 2002, mid-wage jobs comprised 52% of total jobs and 46% by 2006.”
This means the middle class is becoming extinct right before our eyes, and that is one scary thought. The middle class holds the economy together, without which we may start to see chaos and revolt within our society. Let’s hope the pendulum swings back to equilibrium in the near future.