BAKERSFIELD, Calif. (KGET) — The City of Bakersfield ranked as the top “economic bellwether” city in California, according to a study released in June by MarketBeat.
Referring to them as the state’s “economic pressure sensor,” MarketBeat said certain cities serve as places that show economic shifts, such as changes in hiring, spending or inflation sensitivity, faster than the rest of the state.
In an online survey involving 3,021 business leaders, California’s leaders voted Bakersfield as the city that feels economic shifts first, followed by Oxnard and Chico, according to the report.
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According to the study, Bakersfield’s biggest sectors — oil, agriculture and freight — tend to react quickly to market shifts. Changes in hiring or consumer patterns in the city can also reportedly provide an early read on patterns across the Central Valley…