Millennials Are Not Having Babies. What Might It Mean For Retirement?

Birthrates are declining worldwide. Yes, there are nations where there are still far more children than the replacement rate of at least 2.1 children per female but industrialized economies are all well below replacement level.

United States Census data indicates that the percentage of women between ages 30 and 44 who have never had children is at a record high since 1960 contributing to the nation’s modest fertility rate of 1.8 children per female – notably below population replacement levels but making the United States a virtual daycare center compared to other nations. Our Canadian neighbors are clocking in at 1.5 children per female. Euro News reports that Europe had its fewest number of babies since 1960 in 2022 with fertility rates range from Malta’s low of 1.08 to Georgia’s high of 1.8 children per female. China, despite revoking the one child, one family policy many years ago has reported a meager 1.2 children per female. Rapidly aging Japan stands at 1.3 which is shockingly low but in stark contrast to the startling bottoming out of Korea’s fertility rate to 0.8 children per female.