The US birth rate fell to its lowest level in 2019 35 yearswell below the 2.1 babies per woman required to feed our populations from birth alone. Researchers expect this trend to continue through 2020 and 2021.
“What we learned from the great recession is that every 1 percentage point increase in the unemployment rate lowers births by 1 percent,” said Phil Levine, economics professor at Wellesley College.
His research implies that there will likely be a Covid baby bust instead of a baby boom in the US. This means fewer American-born workers and consumers, which could slow long-term economic growth.
The US population is now more than 330 million People. and worldwide there are almost 7.8 billion. Researchers point to immigration as an easy way to protect the size of the US population.
“The most popular place for immigrants in the world is still the United States,” said Darrell Bricker, CEO of Ipsos Public Affairs. “It’s still that shining city on a hill.”
The World Bank estimates that it will be by 2050 143 million additional climate migrants from Latin America, sub-Saharan Africa and Southeast Asia.
NGOs like Population Matters try to ensure the proper distribution of resources while protecting the environment and all people when the world’s population changes.
“We are particularly concerned that any country in the world can, wherever possible, allow people to move to their countries, and in particular can accommodate refugees and asylum seekers,” said Robin Maynard, director of population affairs.
Analysts continue to assume that the world population will increase in the next 100 years. After that, researchers like Notre Dame University economics professor Kasey Buckles expect fertility to weaken or decrease. She attributes the development to a falling birth rate in emerging countries.
“We see that fertility tends to decrease as countries develop. If development spreads around the world, we assume this is going to happen. Therefore, we assume that fertility or actual population in the near future it will decrease worldwide a hundred years, “said Buckles.
The world population is expected to peak By 2064 9.7 billion and again by 2100 8.8 billion. Enabling increased immigration to the U.S. will help maintain steady influx of workers and consumers and support economic growth.
American companies can also turn to the baby boomer generation to continue participating in the economy as workers and consumers.
“The biggest power group in business in the future will be older women because there are many of them and there are more every day,” said Bricker.
The most successful companies will be able to adapt to changing population demographics.
“Ultimately, people matter. The more people there are, the more economic activity there is,” Levine said.
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This article originally appeared on www.cnbc.com
