"Migration among certain demographic groups also differs from the state’s general pattern. Although California has had net out-migration among most demographic groups, it has gained among those with higher incomes ($110,000 per year or more) and higher levels of education (graduate degrees)."

https://lao.ca.gov/laoecontax/article/detail/265

As a fifth generation Californian, I am not loosing sleep about the state depopulating! Even if it has some years of negative net migration, the long term story is incredible economic and population growth. Slower or negative growth would be helpful in many ways. The state's infrastructure needs to catch up to the growth, particularly in the Bay Area.