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Town Square

The Economy's Effect on the Mental Health of Families in Silicon Valley

Original post made by Adolescent Counseling Services, Menlo-Atherton High School, on Oct 2, 2008

As the unemployment rate in Silicon Valley sits at a four-year high and consumer prices continue to soar, many parents are coping with the burden of providing for their families on a strained budget. A recent study by Working Partnerships USA on the current state of the economy in Silicon Valley echoes troubling national data, suggesting that despite positive predictions earlier this year, the nation's economic woes have and will continue to have an effect on Silicon Valley businesses. With stagnating wages, an increase in the proportion of low-paying jobs, rising debt, and foreclosure activity growing in Santa Clara County by 513 percent since 2006, many families in the greater Silicon Valley area are facing tough times and even tougher decisions about how they plan to weather this economic storm.

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