People are having fewer kids. Their choice is transforming the world's economy
Summary
People around the world are choosing to have fewer children, which is changing global economies. This trend is leading to older and shrinking populations, particularly in wealthier countries.Key Facts
- Families are having fewer children worldwide, with numbers dropping more than half since the 1970s.
- This trend is more common in wealthy countries like the U.S.
- As populations age and shrink, there may be fewer workers and challenges for retirement systems.
- In the U.S., the average number of births per woman hit a low of 1.6 in 2024.
- In some countries, such as China, Japan, Italy, and South Korea, deaths now outnumber births.
- Many wealthy countries maintain stable populations partly due to high immigration rates.
- Economists predict that aging and shrinking populations will affect economies and societies significantly.
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