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Bakersfield Economy Snapshot: Choices Ahead for Energy and Farm Sectors
Payroll totals and GDP figures set the stage for decisions on sustaining output in Kern County's core industries.
How we reported this
Bakersfield-Delano MSA nonfarm employment reached 293,000 payrolls in June, marking a 2.1 percent year-over-year gain while the local unemployment rate fell to 8.3 percent from 8.7 percent the prior month.
Why the figures matter at this point
The Bakersfield-Delano MSA posted a current-dollar GDP of about 59.8 billion dollars in 2023, and Kern County's real GDP rose 5.2 percent to 46.9 billion dollars, with energy and agriculture listed as the main drivers. These numbers sit against a county economy rated C for somewhat prosperous status, where median household income stands at 74,452 dollars and the unemployment rate registers at 7.3 percent.
Kern County holds the position of California's top oil-producing county and ranks fourth nationally in agricultural output by value, with the 2023 crop total reaching 8.63 billion dollars. New-home sales in the metro area dropped 3.2 percent year-over-year to an annualized pace of 1,492 units in July, while the average list price for a new detached home reached 434,883 dollars in August.
Evidence on the ground and next steps
Total nonfarm employment growth of 2.1 percent and the monthly unemployment decline rest on data covering the Bakersfield-Delano area through June. The GDP expansion of 5.2 percent in Kern County traces directly to the same energy and agriculture base that produced the 8.63 billion dollar crop value.
Local officials and business groups will weigh options for supporting continued payroll gains and sector output. Choices center on infrastructure maintenance for oil fields and farmland, workforce training tied to existing energy and crop operations, and measures to address housing costs reflected in the 434,883 dollar average new-home price.