Report: A declining birth rate could spell trouble for the economy

When the great recession hit in 2007, economists weren’t surprised to find that young couples held off on starting families. However, ten years later, they’ve found that the birth rate hasn’t yet bounced back. Now, some experts fear that fewer babies could equal problems for the economy down the road.

In 2016, the U.S. birthrate hit a low only comparable to the Great Depression, according to Ohio-based Dayton Daily News. While 4.3 million were born in 2007, only 3.9 million were born last year. The decrease spans all ethnic backgrounds, while the average childbearing age has increased overall.

It could mean trouble for the education system and workforce in years to come, as education funding and the number of hirable, skilled men and women could drop.  

A number of factors contribute to why young families may be pushing off plans to have children. The report points to concerns over rising debt- including college loans- and insecurity over the job market.

“They’re very nervous about their ability to become financially secure,” said Corey Seemiller, an assistant professor of organizational leadership at Wright State University.

The Georgia Center for Opportunity offers a number of resources for men and women who are working to ensure their family’s stability. Through the Healthy Families Initiative (HFI), HFI is offering a full lineup of courses in the fall and will soon offer classes online. Check out upcoming class dates here.  


Source: local