If baby boomers need another persuasive reason why it’s critically important to invest more now in higher education in California, they should consider this: They’ll need more workers with college degrees, if they want to make money selling their homes in the next 20 years.
University of Southern California demography professor Dowell Myers made this pitch to self-interest Tuesday during the second hearing of the Joint Legislative Committee on the Master Plan for Higher Education. He and others have warned about the coming threat to the state’s economy from a shortage of workers with college degrees. Thirty-five percent of workers 55 to 59 years old have at least a bachelor’s degree, compared with 26 percent of workers aged 25 to 39. Workers with a college degree earn on average 90 percent more than workers with a high school degree in California.
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- Marcia Harris, CPA