California’s higher education system is a critical driver of the state’s economic progress. As the state’s economy continues to change, will its workforce be ready for the jobs of tomorrow?
This report updates and extends projections of California’s workforce skills through 2030, focusing on the supply and demand for workers with a bachelor’s degree. We find that the state will fall about 1.1 million college graduates short of economic demand if current trends persist—a problem we call the workforce skills gap. Even the arrival of highly educated workers from elsewhere is unlikely to be large enough to fill this gap.
Today’s college graduates have better economic outcomes than those who do not hold a bachelor’s degree. Over time, college graduates have seen lower rates of unemployment and higher wages than other workers—even through the Great Recession—suggesting that college degrees have become increasingly valuable in California’s labor market.
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