It’s no secret that raising children is an expensive proposition. But for millennials, who entered adulthood during the worst economic slump since the Great Depression, the 2007-09 recession appears to have done a double-whammy on their decision to enter parenthood.
A recent study by the Urban Institute found that women in their 20s had fewer babies amid the soft economy than those in previous decades. And while it is still too early to know whether they will “catch up” by having children later, the paper written by Nan Marie Astone, Steven Martin and H. Elizabeth Peters raises questions about the implications such a population dip both can have not only on U.S. families but also upward mobility and society. Continue reading