According to a new survey conducted by MassMutual, nearly one-quarter of younger Americans are now reportedly refraining from having children primarily due to financial constraints.
The survey, which was published on Tuesday, revealed that 23 percent of the millennials and Generation Z Americans who were surveyed are not intending to become parents due to financial constraints.
Thirty-one percent of those who stated that they do not intend to have children attributed their decision to the political and social environment in which their offspring would develop.
The Centers for Disease Control and Prevention (CDC) published data in August of this year that indicated that the number of births in the United States decreased once more between 2022 and 2023.
According to data from the Centers for Disease Control and Prevention (CDC), the birth rate in the United States decreased by approximately 23% from 2007 to 2022.
The MassMutual-commissioned survey also revealed that the inability to care for children and a preference for financial independence were both cited as reasons for not having children (43 percent each).
The survey was administered to 1,000 American adults from July 1 to 26.
Additionally, the MassMutual survey revealed that approximately 51% of respondents expressed concern regarding their lack of financial resources to provide for their children. Food and garments comprised the majority of child-related expenditures, accounting for 57% and 51%, respectively.
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