This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Report: Lack Of Vocational And Career Education In California Leads To Severe Skilled Worker Shortage, Billions In Lost Income

Stocks in this article: COCO

SACRAMENTO, Calif., March 28, 2013 (GLOBE NEWSWIRE) -- California's economy needs far more workers with advanced vocational and career training than its colleges and universities can provide, and this skills gap will cost Californians billions in foregone income, a new report has found.

Over the next decade, 2.45 million Californians will be crowded out of college programs that lead to career-oriented degrees, diplomas and professional certificates, the report found. The resulting lack of professional skills will deny California workers entry into many high-paying jobs and cost them more than $50 billion in lost personal income.      

The report, " Left Out, Left Behind: California's Widening Workforce Training Gap," indicates that the state's economy is creating good jobs in fields such as health care and education, but its higher education system cannot produce nearly enough graduates with the skills to fill them.

Statewide, the demand for a community college education in California already exceeds capacity by 591,000 full-time students. In half of California's 58 counties, the gap between demand and supply exceeds 40%. In seven other counties the gap is between 25-40%, and in six more, the gap is between 10-25%.

"This research shows that the skills gap poses a serious threat to the California economy and that the state needs a serious, comprehensive response," said Steven Lindauer, National Director, Education & Workforce Development, Corinthian Colleges, Inc. "Private career colleges can help close this gap by reaching students who would otherwise be left out and left behind in the new economy. Corinthian plans to be part of the solution."

The report was based on research from Encina Advisors, LLC, a Sacramento-based economic consultancy, and was released today at the annual conference of the California Workforce Association, which is composed of the state's local Workforce Investment Boards. The report was commissioned by Corinthian Colleges, Inc., which is based in Santa Ana, CA and is one of the largest higher education organizations in North America. Corinthian's three schools – Everest, Heald, and WyoTech – enroll more than 88,000 students, including about 25,000 in California.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs