Pensions and Aging News

Terry Group issue brief on America’s “baby bust” is featured in The Financial Times

May 18, 2021

A May 16 article in The Financial Times by columnist Rana Foroohar draws extensively on “The End of U.S. Demographic Exceptionalism,” our breakthrough issue brief on America’s “baby bust.” The brief is a part of The Terry Group and Global Aging Institute’s (GAI) jointly published Critical Issues series.

According to issue brief author and GAI president Richard Jackson, who is quoted several times in the FT article, a seismic demographic shift is under way. Until recently, America’s relatively high fertility rate seemed to ensure that it would remain the youngest of the major developed countries, as well as the only one with a steadily growing workforce. But U.S. birthrates were already in a steep decline before the pandemic hit, and now have plunged to European levels. In just a little over a decade, our demographic advantage has evaporated.

“The End of U.S. Demographic Exceptionalism” digs deep into the story behind the new “baby bust,” exploring why birthrates have been falling, whether they are likely to rise again, and, if they don’t, what it means for the budget, the economy, and the position of the United States in the world order.

Our Critical Issues series aims to provide timely and authoritative analysis of key demographic and economic trends and developments that are reshaping America and the world.