The researchers estimate that by 2025, 41 percent of jobs in the state will require a college degree. But they figure only 32 percent of working age adults will actually have degrees then. PPIC economist Deborah Reed says without a solution, the economy will have to adjust:
“We’re likely to have a lower income economy overall that has implications for tax revenues and for social programs. It also means that we’re likely to have a a bigger gap between the earnings of the folks that have the higher skills, compared to other people in the economy.”
The researchers say the state shouldn’t count on importing enough workers – from other states or other countries. In fact, they say more college-educated workers are leaving the state than coming – because of high housing prices. Their advice to the state is to focus on ways to increase college attendance and graduation rates.