CALIFORNIA BUSINESS MINUTE
Brain Gain
11-13-09
Hi, I am Tim Johnson and welcome to the California Business Minute.
We have all heard of a brain drain, where communities loose its educated
population, but a recent report illustrates recent migration patterns of
our nation’s educated creating a brain gain.
According to the US Census Bureau, college graduates are passing up industrial
centers and former hotspots in the Southwest, which have been hit hard by the
recession, in favor of life in urban, high-tech meccas. Their moves are fueling
a resurgence of ‘brainiacs’ specifically in parts of California.
The data covering 2006-2008 show that San Francisco, with its burgeoning biotech
industry, has seen significant increases in residents with advanced-level graduate
degrees.
In contrast, metropolitan areas with high rates of foreclosures, less tech-based
economies or increasing unemployment saw declines or slower rates of growth in
residents with a college degree or higher, such as Los Angeles,
More than one in four U.S. residents now has a college degree, and many recent
graduates are looking for jobs in cities where there remains demand albeit small
even during a recession, they still stand a better chance of becoming employed.
I am Tim Johnson and this has been the California Business Minute.
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