Wis. (WLAX/WEUX) – As we’ve reported, the birthrate in the UW has dropped for the sixth consecutive year, this time reaching historic lows.
According to the 2020 census, 3.6 million babies were born, the fewest since 1979.
As more couples wait to have their first child until their late thirties and early forties, the trend is beginning to impact the economy.
Fewer young adults working means less money going into retirement funds for a larger older generation.
Fewer young people in the workforce are also drastically changing industries once dominated by families, like farming.
Dr. Christine Whelan, Consumer Science Expert said, “We would see children as people who work on the farm and are really a part of the family business; now we see all families shrinking in size, including farming families, because they aren’t seen as an economic asset, especially in those early years, they’re going to school.”
But experts also add that technology is helping bridge the gap, allowing fewer farms to accomplish more work in a day.