Siyamak sits down with Jim Doti, president emeritus at Chapman University. Today he will talk about his latest findings on the California Exodus and provide some insights on the demographics of people who are leaving California, why they are leaving, and the outmigration’s impacts on California’s job market and economy.
“Over the last five years, we’ve lost 1.2 million people. We did a survey of CEOs; over 50% say that they’re thinking of relocating their operations, and that’s why jobs increasingly are leaving the state. That’s why California ranks number 49 in job growth. There’s no greater loss to an economy than the loss of human capital, and that’s what’s happening,” Mr. Doti said.
In this interview, our guest offers insights into the recent revisions in migration numbers, revealing a concerning trend where over 300,000 more people have left California than those who have arrived in the past few years. He shares his observations on the updated estimates by the Department of Finance of California, signaling a significant outflow that poses challenges such as a growing deficit and perceived policy inertia in Sacramento.
Our guest sheds light on the challenges faced by the state, from fiscal deficits to concerns about job growth. The discussion emphasizes the impact on high-paying jobs, particularly in advanced industries, where California historically held a strong position but now faces growing competition from low-tax states.
Mr. Doti also navigates the complexities surrounding housing affordability and anticipates potential changes in housing dynamics as the outflow continues. As the looming budget deficit comes into focus, the conversation explores the available options for state leaders and contemplates the potential consequences of policy decisions.
*Views expressed in this video/article are opinions of the author and do not necessarily reflect the views of California Insider.
