San Jose, located in California's Bay Area, is a well-known hub for high-tech companies like Cisco, eBay and Adobe Systems. Other companies like Hewlett-Packard, IBM and Lockheed Martin also have facilities in San Jose. Silicon Valley, a nickname derived from the concentration of silicon chip manufacturers and high-tech companies in the area, is comprised of San Jose, Palo Alto and the southern part of the San Francisco Bay area in general. Founded in 1977, San Jose was California's first civilian settlement.
San Jose has a population of 953,679, making it the third largest city in California, and the tenth largest in the United States. Many people became familiar with San Jose due to a 1968 song written by Burt Bacharach, "Do you know the way to San Jose?" Though Burt had never been to San Jose at the time he wrote the song, he no doubt heard about the wonderful Mediterranean climate that's tempered by the San Francisco Bay.
In 2004, this part of California boasted an average personal income of $48,530. According to the U.S. Department of Commerce's Bureau of Economic Analysis, the average Bay Area resident earns 47% more than the average American. Average income has grown 8.4% over the past 35 years.
Because San Jose considers itself "the Capital of Silicon Valley," it makes sense that its economy succumbs to the tide of high-tech employment in the Bay Area. In 2006, the city reported 405,000 jobs in the city limits and a 4.6% unemployment rate.
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