The youth deficit also seems to be spreading to the post-millennial generation. Due, in part, to a dearth of new families, California’s new generation is actually shrinking the potential workforce. Between 2013 and 2025, the number of high school graduates in California is expected to fall by 5 percent, while Texas, Florida and North Carolina experience gains of near 10 percent or more. With a shrinking birthrate, as well as diminished immigration, the L.A. region could experience a continual decline in its workforce.
These trends should alarm employers and businesses who depend on growth in workers and consumers. A rapidly aging population, by its very nature, adds less to economic growth and innovation, while spending less on housing and consumer goods. Southern California politicians, seemingly more obsessed with sporting events and climate change than economic reality, need to address the fundamental housing and employment issues undermining our demographic future.