April 9, 2019

America isn't full

NY Times =The Congressional Budget Office foresees the American labor force rising by only 0.5 percent a year over the coming decade, about one-third as fast as from 1950 to 2007. That is a crucial reason that economic growth is forecast to remain well below its late 20th-century levels.

And that, in turn, is reflected in the national fiscal outlook. There are now 2.8 workers for every recipient of Social Security benefits, a rate on track to fall to 2.2 by 2035, according to the program’s trustees. Many state pension plans face even greater demography-induced strains.

In smaller cities and rural areas, demographic decline is a fundamental fact of life. A recent study by the Economic Innovation Group found that 80 percent of American counties, with a combined population of 149 million, saw a decline in their number of prime working-age adults from 2007 to 2017.

Population growth in the United States has now hit its lowest level since 1937, partly because of a record-low fertility rate — the number of children born per woman. The United States increasingly has population growth rates similar to slow-growing Japan and Western Europe, with immigration partly offsetting that shift.

1 comment:

Anonymous said...

america is full. I'm no fan of trump. We have worries about robotics taking jobs. We had 1.25 million people here when I was a child (1950's) now 3.5 million. a while before that we had more than half the population in agriculture. What now? See what automation did there. we need to set up for the 30 hour work week (less?), 8 weeks of vacation. people paid to play productively or for fun on their computers.automation will continue to take over those farm jobs people don't want. some folks would love to farm or would even show up at the slaughterhouse if they got the big $ they deserve. let's face the fact that infrastructure will not keep up with an ever expanding population. Japan is full. the world is full. adjust. fix the roads, the bridges, the power lines, bring high speed communication to every room. PG Hi.