Americans are not making enough babies, and economists have no idea why.
The National Center for Health Statistics just released its latest data brief summarising the bleak news.
There were only 3.9m births in the US in 2013, according to the report, down about 1% from 2012. The general fertility rate also declined 1% in 2013 to another record low: 62.5 per 1,000 women aged 15–44.
The truth is, birth numbers have been in decline for six straight years, dropping 9% from its peak in 2007, according to the report.
If a slow economy is bad news for the birth rate, it also works the other way: declining fertility and birth rates are bad for the economy. Shrinking labor forces, weaker social security, and other consequences soon follow.