The U.S. birth rate has dropped to its lowest point in more than 100 years, triggering concerns about the nation's economic future with a lack of fresh blood to replenish an aging workforce.
Alisha Alderson, her husband, Shane, and their daughter, Adeline, 5, say goodbye to Alisha’s mother, Patricia Conway, at an assisted living facility in Baker City, Ore., on Friday, Sept. 1, 2023. The Aldersons are headed to Idaho where Alisha is …The U.S. birth rate has dropped to its lowest point in more than 100 years, triggering concerns about the nation’s economic future with a lack of fresh blood to replenish an aging workforce.
The CDC report comes as federal demographers have predicted for the first time that the U.S. population will decline. Economists say that will stunt economic growth at every level as fewer young people are available to apply for college, enter the workforce and pay taxes in coming decades. As fertility declines, the labor market faces a shrinking talent pool. According to the CDC, the birth rate needed to replenish the existing population has been “consistently below replacement since 2007,” and Forbes has estimated that 10,000 baby boomers retire every day.
“Many small colleges have already been forced to close for lack of students,” said Peter Wood, president of the conservative National Association of Scholars and a former associate provost at Boston University. “That trend will accelerate and the effect will be dramatic within the next 20 years.”
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