Tags: Coronavirus | baby bust | economy | birth rate | fertility | pandemic

Economists: Coronavirus Could Result in 'Baby Bust'

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By    |   Monday, 31 August 2020 12:08 PM

Economists from the Brookings Institute are forecasting that the coronavirus pandemic will result in a “baby bust,” or a drop in pregnancy and birth rates, Business Insider reports.

According to a Brookings report, Melissa Kearney and Phillip Levine predict the pandemic may cause the number of births that take place next year to drop between 300,000 and 500,000.

Many have said coronavirus lockdowns and quarantines would result in couples having more babies. But the economists say the economic recession, insecurity and uncertainty surrounding the pandemic will cause the opposite to happen.

The 1918 Spanish flu outbreak led to a decline in birth rates. So did the Great Recession, which saw a drop of almost 400,000 births between 2007 and 2012. Brookings pointed out that states with more severe recessions had larger declines in birth rates.

"A deeper and longer lasting recession will then mean lower lifetime income for some people, which means that some women will not just delay births, but they will decide to have fewer children," Kearney and Levine write.

The country fell into a recession in February. Unemployment rates still remain over 10%, according to Business Insider.

In a LinkedIn post, Wharton Professor Mauro Guillén warned that a decline in birth rates will have a harsh impact on the economy. Guillén noted the over-60 population will be the largest consumer group by 2030. At that time, the Social Security Trust Fund Ratio will fall below the 100% financial adequacy level, per a federal projection.

"As any parent will tell you, children come at a cost. They require outlays of money, time, and energy,” Kearney and Levine write.

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Economists from the Brookings Institute are forecasting that the coronavirus pandemic will result in a "baby bust," or a drop in pregnancy and birth rates, Business Insider reports. According to a Brookings report, Melissa Kearney and Phillip Levine predict the pandemic may...
baby bust, economy, birth rate, fertility, pandemic
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2020-08-31
Monday, 31 August 2020 12:08 PM
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