Twenty-somethings who postponed having babies because of the poor economy are still hesitant to jump in to parenthood — an unexpected consequence that has dropped the USA’s birthrate to its lowest point in 25 years.
The fertility rate is not expected to rebound for at least two years and could affect birthrates for years to come, according to Demographic Intelligence, a Charlottesville, Va., company that produces quarterly birth forecasts for consumer products and pharmaceutical giants such as Pfizer and Procter & Gamble.
Marketers track fertility trends closely because they affect sales of thousands of products from diapers, cribs and minivans to baby bottles, toys and children’s pain relievers.
As the economy tanked, the average number of births per woman fell 12% from a peak of 2.12 in 2007. Demographic Intelligence projects the rate to hit 1.87 this year and 1.86 next year — the lowest since 1987.
The less-educated and Hispanics have experienced the biggest birthrate decline while the share of U.S. births to college-educated, non-Hispanic whites and Asian Americans has grown.
