It is no secret the United States is on the verge of an economic recession, if not already there. The current real estate debacle coupled with a less than bullish financial market spells tough economic times for Americans.
California is certainly feeling the heat. The Legislative Analyst estimated that “in order to balance the 2008-09 budget, the state will have to adopt nearly $10 billion in solutions.” These solutions were itemized Thursday when Governor Schwarzenegger released his 2008-09 budget proposal, which included 10% across the board cuts to the tune of $14.5 billion.
Such solutions will likely cut jobs, and employment growth could halt simultaneously – something that is already happening nationally. In December, companies added only 18,000 jobs – the lowest monthly increase in four years – resulting in a current federal unemployment rate of 5%.
Long Beach is also no stranger to experiencing budget woes. The city continues to crawl out from a structural deficit and does so at a time when the economy likely will offer no assistance. So many are feeling the heat – employers, bankers, homeowners, politicians, and non-profit organizations – all at risk of experiencing less fiscal security if a recession ensues.
Not everyone suffers though. One major Long Beach institution – Long Beach City College (LBCC) – could benefit from tough economic times. When jobs are scarce, community college students tend to stay longer and high school graduates are more likely to enroll, finding their probability of landing a job has declined.
Younger students are not the only ones who will be knocking at LBCC’s door though. Because two-year colleges offer occupational education and household incomes decline during recessionary periods, older workers tend to go back to school too. Why sit at home when you can obtain some skills at a tremendously affordable rate? (LBCC costs a student about $45 per class.)
According to Jim Brady, chief of the New York Department of Education’s Bureau of Postsecondary Statistical Service, “When times are tough, and people are unemployed, they want to go back to school and change careers.”
Since Long Beach is home to a large working class, and LBCC serves a district with about 600,000 people, admission applications may spike in coming academic terms. With current enrollment at 26,000, it may be prudent for campus administrators to prepare for higher demand.
Just take a lesson from history! During the recession of the early 1990’s, total college enrollment increased 14%. If the current economy drives a similar percentage to Long Beach City College, that amounts to almost 4,000 new students. It would be wise for campus administrators to prepare for the upcoming demand. It is also prudent to recognize the rare opportunity to capture the minds of so many who may otherwise have never applied to college in the first place. This not only helps the student’s long-term success, but delivers a more qualified workforce to our city and state. That is what builds a strong economy.
Co-publisher Robert Garcia is an employee of Long Beach City College.