Joint Venture Publications

Employers identified three key drivers of Silicon Valley's workforce shortage:
  • Limited supply of qualified candidates
  • High housing costs in the Valley which affect attraction and retention of talent
  • High wages which hinder small and mid-size companies’ ability to hire

The study determined that the incremental cost of the workforce gap to the high-tech industry in the Valley is approximately $3–4 billion annually. The study results also demonstrate that Silicon Valley students, the future pipeline of skilled labor, lack a familiarity and interest in high-tech careers and are therefore not building the skills required for these job opportunities.

Although many Silicon Valley stakeholders–companies, schools and colleges, non-profit organizations, and industry associations–have individually taken steps to address this issue, most efforts have not affected lasting improvements. Typically the efforts have been fragmented, short-term focused and not sustainable. The numbers of initiatives are insufficient to generate the needed momentum.

It is critical to rally Silicon Valley resources around actions that ensure the development and full utilization of its regional “homegrown” talent. A collaborative approach of all Silicon Valley stakeholders will be required to provide a sustainable long-term impact on the workforce shortage and ensure the economic growth of the Valley.

Joint Venture Publications

Joint Venture produces and provides supporting documents and research for a wide array of Silicon Valley interests. We also help to support our initiatives through the publication of the annual Silicon Valley Index and a variety of other periodic reports and white papers.

Want more data?

indicators home page

Did you know you can get comprehensive information and data about the economic and community health of Silicon Valley any time by visiting the online home of the Silicon Valley Index at www.siliconvalleyindicators.org?

The site is maintained and constantly updated by Joint Venture's Silicon Valley Institute for Regional Studies and is a robust collection of charts and information with links to local, regional and national data sources, and resources for additional information within each of the indicator categories: People, Economy, Society, Place and Governance.