SPRINGFIELD, Mass. (WWLP) – Birth rates are dropping all around the world. The rate started dropping ever since the 2008 financial recession.
Couples found themselves too short of money or too fearful about their finances to have children.
Now, six years later, the rate still hasn’t bounced back, and while it’s good news for those who fear an overcrowded planet, it’s actually bad news for the economy.
American International College economics professor John Rogers says, “It will have an impact on school systems, the educational system, and eventually on the entire economy in terms of participation in the workforce, the consumer aggregate demand base.”
Birth rates are falling in the United States, China, Japan, Germany, Italy, and nearly all other European countries.