Mon. Jul 22nd, 2024

Very few children are born in developed countries

Natasha Kumar By Natasha Kumar Jun20,2024

Few children are being born in developed countries

Birth rates in the world's industrialized countries have more than halved since 1960 and are now at a record low, the Financial Times reports.

The average number of children per woman in 38 of the world's largest industrialized countries has fallen from 3.3 in 1960 to 1.5 in 2022, according to a study published on Thursday.

Fertility rates are now well below the replacement level of 2.1 children per woman – at which a country's population is considered stable without immigration – in every industrialized country except Israel.

In 2020, mothers in the countries studied on average gave birth to their first child at almost 30 years of age or older, up from 26.5 years in 2000. 

"This decline will change the face of societies communities and families and has the potential to have a significant impact on economic growth and prosperity,” the study says.

It is noted that the slowdown in population growth is holding back economic growth. According to data from the US Bureau of Labor Statistics, people aged 65-74 spend 22% less money than those aged 45-54. 

Older consumers are less active in purchasing goods, and younger consumers are no longer becomes. In countries with problematic demographics, markets will no longer grow as strongly as before.

According to the IMF and European Commission report on population aging to 2024, growth in the EU's total labor force will soon be insufficient to compensate for the decline in working-age population, which will exacerbate labor shortages.

Combined with rising life expectancy, low fertility also puts pressure on government finances as fewer people pay the taxes needed to cover social spending. 

Student shortages are also leading to an increase in school closures in Europe, Japan and South Korea.

In a future with low birth rates, more attention will need to be paid to immigration policy, as well as measures that can help people stay healthy and work more productively.

Prepared by: Nina Petrovich

Natasha Kumar

By Natasha Kumar

Natasha Kumar has been a reporter on the news desk since 2018. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Times Hub, Natasha Kumar worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my natasha@thetimeshub.in 1-800-268-7116

Related Post