Over the past several decades, the demand in California for college-educated workers has grown. But the supply of college graduates has not kept pace with demand, and it appears that this "workforce skills gap" will not only continue but widen. This study examines the causes, magnitude, and likely consequences of the potential mismatch between the level of education the future population is likely to possess and the level of education demanded by the future economy. The author concludes that if current trends continue, California will experience a serious shortfall of college graduates by 2025, unable to meet its needs even through the migration of college graduates from other states. (Contains 29 notes, 6 figures, and 4 tables.) [This report was written with research support from Qian Li.]