Why Do Millennials Have Lower Birth Rates

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Like many developed countries around the world, The United States has experienced lower birth rates in current generations than previous ones. With overpopulation contributing to this, the most common reason for fewer pregnancies in the Millennial generation is because of the financial state of the country. It’s just so much more expensive to raise a child in this current age than in the past. The Millennial generation having lower birth rates than previous generations does not bode well for the future of the United States Population. With higher education becoming more common, Millennials are more focused on themselves than starting families. It’s commonly believed that obtaining a college degree leads to a more stable financial future, with college grads between the ages of 25 and 32 earning about $17,500 more annually than those with only a high school diploma according to a study done by the Pew Research Center. Many Millennials will put off parenthood in order to hopefully secure better paying jobs in order to eventually support a family if they wanted to. But even with a degree, not all degrees have the same return on their investment, with many graduates having bad credit with thousands of dollars in loans. The uncertainty of job security, good pay, and possibility of …show more content…
Since the last recession many would-be parents are hitting pause on pregnancy plans because babies are, among other things, expensive. It is 70% more expensive to raise a child now than it was 15 years ago. It requires more than just a sperm and an egg to raise a child. A lot of planning has to go into becoming parents in order to be financially able to support a child. According to a report done by the USDA in 2014, the estimated cost of raising a child to the age of 18 is close to $245,000 on top of other expenses. Many Millennials don’t want to or can’t take on the financial burden of raising a
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