California's image as the Golden State is based largely on its rapid population and economic growth. However, recent trends show an aging population, a decline in population growth, a reduction in the number of migrants from other states, and a dramatic increase in foreign-born residents. Since 1960, the state's growth rate has slowed considerably, declining to 2.4 percent per year during the 1960s and to 1.7 percent during the 1970s. Natural increase (the difference between births and deaths) contributes more to the state's total growth than any other factor--55 percent during the last two decades. During the 1970s, the number of migrants from other states declined. The 1980 census recorded a doubling of the state's foreign-born population. California women are having fewer children primarily due to their increasing participation in the labor force. Changes in fertility, migration, and immigration are restructuring the state's age and ethnic profiles; and these changes will help shape the state's policy agenda for the rest of the century. Impacts will be felt in education, child care, health services, the labor force, tax revenues, and public service expenditures. Tables illustrating population change are included throughout the report. (SM)