by Tim Fang

SAN FRANCISCO (CBS SF) – California may not have enough college graduates to meet economic demand in 2030 if current trends continue, according to a newly released report.

The Public Policy Institute of California projects California would be 1.1 million graduates short of demand by 2030.

The study’s authors said while 38 percent of California jobs will require at least a bachelor’s degree, only 33 percent of Californians would have degrees.

“California’s workforce skills gap is substantial,” PPIC senior fellow Hans Johnson, one of the report’s authors, said in a written statement.

Despite forecasting fewer high school dropouts and more college graduates in the next 15 years, the authors said that would not be enough to make up for large numbers of highly educated baby boomers retiring. The authors also said further increases in immigration would unlikely be sufficient to meet demand.

According to the state’s Department of Finance, California is projected to have a population of 44 million in 2030, with more than 8.6 million people age 65 or above.

The group suggests several ideas to narrow the gap, including increased eligibility to the University of California and California State University systems, expanding transfers from community colleges and shortening the time it takes to earn a bachelor’s degree.

Tim Fang is a digital producer for CBS San Francisco. A native of the Bay Area, follow him on Twitter@fangtj.