- Economy at a Glance! -
The United States economy grew at a sluggish rate of 0.1 percent with 6.7 percent unemployment
rate and 1.9 percent inflation rate. In California, the unemployment rate dropped to 8.1 to 8.4
percent. However, Kern County’s unemployment rate climbed to 13.6 from 11.5 percent...
- Kern County Business Outlook -
Results of the Business Outlook Survey indicate that local business managers are slightly
more optimistic about local economic conditions. The Business Outlook Index crawled to 120 from 119...
- Bakersfield Consumer Sentiment -
Results of the Consumer Sentiment Survey suggest that Bakersfield households are not optimistic
about employment and financial conditions of their families, friends, and relatives. The Consumer
Sentiment Index dropped to 95 from 100...
- Tracking Kern's Economy -
Kern County generated $15.95 billion in real personal income, $60 million less than the previous
quarter. The rate of unemployment climbed to 13.6 from 11.5 percent. While below the county average,
the rate of unemployment averaged 6.9 percent in Ridgecrest, 7.6 percent in Tehachapi, 8.4 percent
in Bakersfield, and 9.5 percent in California City. The housing market conditions deteriorated as
the county's median sales price for all residential units depreciated $1,800 (or 1.0 percent)
from $176,800 to $175,000. In Bakersfield, the median housing price remained unchanged at $193,400...
- Ridgecrest: Technology City -
Ridgecrest's geographic isolation is an important contributor to its lofty standing as a technology
city. Because of this isolation, R&D's employment share is not diluted by other basic industries.
One would expect this to result in less "watering down" of salaries from basic industries with…
- It’s Gold You’re Talking About! -
In recent years, we have witnessed a steep rise in the price of gold. In light of global financial
crisis, investors picked up gold in frenzy, and that frenzy paid off as gold prices reached
unanticipated record highs. Since 2000 the average price of gold has increased nearly fivefold…
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