Fear of Economic Blow as Births Drop Around World

ABC News | May 7, 2014

By BERNARD CONDON

Nancy Strumwasser, a high school teacher from Mountain Lakes, New Jersey, always thought she’d have two children. But the layoffs that swept over the U.S. economy around the time her son was born six years ago helped change her mind. Though she and her husband, a market researcher, managed to keep their jobs, she fears they won’t be so fortunate next time.

“After we had a kid in 2009, I thought, ‘This is not happening again,'” says Strumwasser, 41, adding, “I never really felt comfortable about jobs, how solid they can be.”

The financial crisis that followed the collapse of U.S. investment bank Lehman Brothers in 2008 did more than wipe out billions in wealth and millions of jobs. It also sent birth rates tumbling around the world as couples found themselves too short of money or too fearful about their finances to have children. Six years later, birth rates haven’t bounced back.

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