Last September, the U.S. government announced that our birthrate fell to “another record low” in 2012, following a long, steady slide since the Baby Boom after World War II.
It goes without saying that, morally speaking, there’s nothing wrong with this. It’s natural, in a way. All over the world, birthrates tend to fall along with economic development, for numerous reasons including (a) the move away from a labor-intensive small-farm economy and (b) women’s ascendance in the workforce, which uses time that used to be devoted to child-rearing. Families in richer countries tend to have fewer kids. In places like Japan and Western Europe, national populations are actually peaking.
The thing about an increasingly childless economy is that it has major implications for consumption. Just look at this new data from a Gallup survey released today on the average daily spending of families. Even after you control for income, age, education, and marital status, families with young kids spend more every day. These are the sort of spenders you want in a weak economy following a great deleveraging.
Chosen excerpts by Job Market Monitor. Read the whole story at The U.S. Economy’s Big Baby Problem – Derek Thompson – The Atlantic.
- US / Birth Rate Falls to a Record Low, Worse Among Immigrants
- Mothers in US / More fatigued than dads
- US / New Mothers are more than ever College Educated
- America’s Silent Crisis – Single Working Mother
- Family and Medical Leave in US / Job Protection Isn’t Enough
- A worldwide retirement crisis is coming
- The Talent War / The implications of the demographic outlook and immigration flows are substantial says a report
- The Demography of Largest Countries 2010–50 in a Figure
- China | Demography | Aging : the long-term implications
- Korea / Ageing faster than any other country in the OECD