"For individuals, success and persistence in schooling has a huge economic impact on their lives. Educational attainment affects the kinds of employment job seekers can find, the amount of money they earn, the housing conditions and lifestyle they can afford, the level of savings they can accumulate for retirement, their risk for incarceration, and the likelihood that they will live in poverty or need to rely on transfer payment for basic needs. Perhaps less obviously, the state also has a strong stake in the educational attainment of its residents. One element of the state's economic stake is its financial balance, since the demand for incarceration and poverty-related state services declines with higher levels of educational attainment, while higher rates of per capita income permit the provision of a fixed set of state services at lower average rates of taxation.
Historically, California has experienced a "brain gain", as the flows of highly educated and skilled workers supplemented its own investments in developing educational opportunities for its residents. Long-running transitions toward migration flows in which lower levels of education are more heavily represented, in conjunction with projected demands for increasing numbers of well-educated and skilled labor in California, will require the state to either substantially improve educational success among its next generation of students or suffer from a shortfall of skilled workers." Source: UCLA's Institute for Democracy, Education, & Access.
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