The economy has often been linked to baby making. Take one of the most oft mentioned generations of the 20th century: the baby boomers. They were born in the affluence immediately following the end of World War II.
As a new study suggests, when our current crappy economy finally improves, we could be in for another baby boom.
As Jezebel reports,tons of “fertile but financially hesitant women have been revving their ovaries” for the minute the economy improves so they can get pregnant. As Ceridwen Morris reported not too long ago, the birth rate dropped for the third consecutive year. Not only are women chomping at the bit to get knocked up, but there is an apparent backlog of couples too poor to divorce. Basically, what Jezebel is saying is that “as soon as this global meltdown sh*t is over, it’s going to be a no-holds-barred divorce/baby having frenzy.”
Rortybomb’s Mike Konczal says that people tend to wait to make the decisions that lead to household formation— like having a kid, or breaking up— until the financial picture stabilizes. No kidding. Who wants to have a baby in these uncertain times or when health care is such a mess? Konczal predicts that as the economy rights itself, people will make up for lost time.
Here are some of his findings:
…In states where unemployment skyrocketed in 2008, the divorce rate plummeted. But there’s an even stronger inverse relationship between the unemployment rate and the birth rate. Turns out, the unemployed are fully aware that having a baby is a pricey enterprise, and they’ve been putting it off for years. Last year, for example, the fertility rate dropped to its lowest level since the government’s been keeping track. This can’t all be due to Teen Mom.
Konczal says that once everyone gets busy making babies, the need for housing may increase and that will also give the economy a much-need shot in the arm.
Did your finances play into your decision to have a baby? What trumps – your biological clock or your finances?
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