Californian demographic trends are shifting as the state’s population ages due to declining birth rates and immigration, with a projected 59% increase in the elderly population by 2040. Governor Gavin Newsom’s administration has launched a Master Plan for Aging to address the increasing needs of the elderly population. However, there are concerns about the state’s ability to meet these needs given projected budget deficits and worker shortages in key occupations like healthcare and construction. The report suggests that more older adults may need to work out of necessity, impacting the state’s labor force participation rates. The high cost of living in California and stricter immigration policies may exacerbate the worker shortages. The state’s evolving demographics pose challenges that need to be addressed to ensure a sustainable future for all Californians.
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