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SAN JOSE -- Silicon Valley's tech workforce is expanding more rapidly than nearly every other innovation hub in the nation, and technology employees in the South Bay are far more productive than anywhere in the United States, according to a report released Wednesday.

"While Silicon Valley continues to have a white hot economy and high job growth, there are several warning signs," according to the Silicon Valley Competitiveness and Innovation Project 2016, which released the study as a kind of report card on the region's economic health.