Okay, we may have to start panicking because those young folk aren’t having kids! If you think that’s a good thing, might wanna take a last loving look on your social security and pension that you plan on collecting when you retire.
If you’re planning on retiring.
If you’re not, you might be onto something. Turns out Connecticut is facing an extremely unique problem that has major economic consequences if it doesn’t get sorted soon.
CT Mirror finds that less and less Connecticut women are having kids and, paired with an aging population, the state’s growth is stunting. Actually, it’s now one of the nation’s slowest-growing states.
The latest census data ranks the state 49th overall in fertility, beating out Maine and Vermont in this latest study. An estimated 41 out of 1,000 women gave birth in 2015, which is way behind the national average of 51 births per 1,000 women.
This decline affects all age groups, but mostly the state’s youngest population: teens. Although not a terribly bad thing, teenage pregnancy in Connecticut is 7 percent. That’s less than half of the nation’s average, which is 16 percent.
Now that I tackled talking about the good, let’s face the bad and the ugly. The bad? School enrollment is gonna take a MAJOR hit all the way up to 2025. With schools already merging to compensate for their rapidly declining student base, this development affects jobs in both construction and education.
Now onto the ugly. The economy. With baby boomers beyond ready to retire (let’s face it, you worked your entire life, you deserve to quit and go on vacation,) the younger generations might be too small in number to keep the state’s coffers in check when it comes to taxes.
With fewer home owners slated to take up their fair share in the state’s property tax, on top of paying into the state’s income tax, the imbalance is going to create a myriad of challenges for our politicians tasked with balancing the state budget.
With the older generation heading towards becoming the majority in Connecticut’s population, efforts to come back from the recession will continue to be hindered.
Economists are saying it would be a near-nightmare should an older population become the largest demographic because of all the changes it would impose on state government. With changes in health care and other services, communities that are built to serve kids will be forced to adapt.
Although, no economists were able to describe how effectively those so-called adaptions would be and what plans are currently in place to ensure a smooth transition.
With child care at an all-time high, along with the cost of living in the state: it’s obvious why people my age are refusing to have kids. Simply put: adding new family members ain’t gonna happen.
I’m sure a lot of couples would love to bring kids into their lives, but, at the moment, it’s fiscally irresponsible and unstable to do that until something changes to make the state more child-friendly.