Mon. Dec 4th, 2023

11. There are 300,000 fewer births expected in 2021.

Fewer births mean fewer workers to help bolster Social Security. Granted, the impact wouldn’t be felt until the future, but the Brookings Institution’s December report also found that 34% of American women 18 to 49 have either delayed plans to have children or reduce the number they plan to have as a result of the pandemic.

Meantime, with the death of more than 700,000 Americans due to COVID, the National Center for Health Statistics states that a drop of 100,000 births due to falling fertility rates across age groups could have a more immediate impact on certain businesses, such as insurance, and in the longer term, the income threat to Social Security once this group starts working.

(Image: Adobe Stock)

By senior