Setting the stage for ‘instability and revolt’: Annual Silicon Valley report sounds warning

FOREIGN WORKERS ARE arriving in Silicon Valley at record levels while the general labor force is getting older and leaving in droves — driven away by soaring housing and health care costs and enabled by the seismic shifts of remote work.

That’s according to the 2025 Silicon Valley Index, an annual report on regional economic and demographic data published by research firm Joint Venture Silicon Valley. The report defines Silicon Valley as Santa Clara and San Mateo counties, as well as portions of Alameda and Santa Cruz counties. Economists discussed the findings Friday during the State of the Valley conference at San Jose State University, attended by hundreds of government leaders and business figures. Speakers at the event seemed to double down on last year’s tone of cautious optimism.