In 1970, California averaged 21 seniors for every 100 working-age adults. By 2030, that ratio is expected to rise to 36 seniors per 100 working-age adults, according to the report. That retirement wave will place “massive pressure on institutions and programs for an aging population,” the report said.
Today’s children will be the workers who pay for those programs and who take jobs vacated by boomers in the state’s high-technology hub in Silicon Valley, its entertainment industry in Los Angeles and its farm belt in the Central Valley.
“Unless the birthrate picks up, we are going to need more immigrants. If neither happens, we are going to have less growth,” said Mr. Levy. The report wasn’t optimistic, saying that “with migration greatly reduced…outsiders are much less likely to come to the rescue.”
Investments in the state’s education system will be vital to meet labor-force needs and prevent the economy from contracting, said Mr. Levy. With less migration to the state, the skills and human capital necessary to keep California’s economy afloat will need to be homegrown, both Mr. Levy and Mr. Myers said.
Many of those future workers, however, will have grown up in poverty. More than 20% of children in California now live below the federal poverty level.
Somehow I don’t think this will end well.