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While the U.S. experienced a 1% boost in births during the pandemic, between 2020 and 2021, fertility rates have been on the decline for decades — with a consistent 2% decline each year from 2014 to 2020.
With a shrinking population comes a smaller workforce that is crucial in sustaining the economy. Less people participating in the economy could lead to less innovation, stagnation and even recessions. which included a variety of measures such as granting mothers cash incentives to stay home with their children, additional cash payments after having their third child, and a laundry list of other benefits.these policies likely have caused the fertility rate among French to be .1 to .3 more children per woman in the last century. Those policies have been attributed to the birth of several million people.of 1.79 in 2023 — well above the European average of 1.
However, not all countries are focused on promoting pro-natalist policies as a solution to the looming crisis — some are looking to those on the other end of the spectrum.its plans to raise the retirement age to 64 by 2026 and then to 65 by 2030. In addition, re-employment opportunities for older workers will increase to 69 by 2026 and 70 by 2030.
However, in an effort for businesses to tap into the older generation to meet their needs, Ang Tze Phern, partner for the Employment Group at Rajah & Tann, told the Singapore Business Review this might be more costly in the long run.
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