May 26, 2023 9:21 am ET

The number of babies born in the U.S. started plummeting 15 years ago and hasn’t recovered since. What looked at first like a temporary lull triggered by the 2008 financial crisis has stretched into a prolonged fertility downturn. Provisional monthly figures show that there were about 3.66 million babies born in the U.S. last year, a decline of 15% since 2007, even though there are 9% more women in their prime childbearing years.

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This post first appeared on wsj.com

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