Plunging Birthrates

Please consider the Covid Baby Bust.

“All evidence points to a sharp decline in fertility rates and in the number of births across highly developed countries,” said Tomas Sobotka, a researcher at the Wittgenstein Center for Demography and Global Human Capital in Vienna. “The longer this period of uncertainty lasts, the more it will have lifelong effects on the fertility rate.”

In the U.S., a survey by the Guttmacher Institute, a research organization, found that one-third of women polled in late April and early May wanted to delay childbearing or have fewer children because of the pandemic.

The Brookings Institution estimated in December that, as a result of the pandemic, 300,000 fewer babies would be born in the U.S. in 2021 compared with last year. 

Birthrate Declines


  • Italy: -21.6%
  • France: -13.5%
  • Japan: -9.3%

Likely Permanent

No rebound followed the global financial crisis. The U.S. birthrate—after rising to its highest level in decades in 2007—plunged after the 2008 crisis and has declined gradually ever since.

Not to worry. The Fed has a plan to make things more expensive for everybody. That will help, right?


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