The declining American birth rate could actually be good for the economy

The declining birth rate is a step into the great unknown, and that could be exciting.American birth rates have been declining for six years as millennial women have been waiting to have babies until a later age. While many people have described the generation as "behind" due to their myriad economic woes, they're really just creating a new normal.Now, while the rise in women's autonomy has helped birth rates climb for women in their later 30s and in their 40s in recent years (amid the overall declining birth rate), they declined for this cohort during 2020. Millennials have long been facing an affordability crisis, plagued by the lingering effects of the Great Recession and soaring living costs for things like housing, healthcare, and, of course, childcare.Looking back at the stat that more educated women are more likely to have kids at a later age in this context points to a new perspective: Education often comes with student debt. Women may be waiting to have kids not out of choice, but out of a desire to get their financial footing and pay off student debt first.A declining birth rate therefore also reflects how expensive the US economy has become.