Help Wanted… Or Else
California is facing a pretty severe shortage of skilled workers... so severe, suggests a new study, that state leaders may need to trim their hopes for economic expansion over the next two decades.
The new study from the Public Policy Institute of California projects that 32% of working-age adults will have a college degree by 2025... even though 41% of the state's jobs will require a college degree.
Beneath those top numbers in the PPIC study is data that confirms a very slow growth in college-educated workers over the next 20 years... too slow to meet the demands of the state's economy.
Import workers from other states? PPIC's researchers say... think again. They point to data that shows more college degree holding workers are leaving the Golden State than the number who are arriving-- a net loss, they say, of 46,000 over the last five years.
Import skilled workers from other countries? Unlikely, say researchers... as that segment of the workforce would have to more than double to meet demand.
The policy dilemma posed by this study may not be easy to solve, as it seems to require tough questions for both the state's higher education system, and for lawmakers when it comes to the levels of funding for higher ed. Throw into that mix the cost of housing, gas, etc... and it's likely going to be hard to find enough college grads to keep the California economic engine running.
The full report is here.
