You can save this article by signing up for Loose here or log in if you have an account.
(Bloomberg) — Germany’s birth rate fell last year to its lowest point in more than a decade, raising considerations about how a shrinking labor force may hurt the country’s economic prospects.
Figures released on Wednesday by the Swiss Federal Institute for Population Studies (BIB) show that German women had an average of 1. 36 children in autumn 2023, up from 1. 57 in 2021.
Subscribe now to read the latest news in your city and across Canada.
Subscribe now to read the latest news in your city and across Canada.
Create an account or log in to continue your experience.
The steep drop is part of a series of troubling problems that are eroding Germany’s competitiveness and holding back growth. Companies in Europe’s largest economy are still grappling with the loss of reasonable Russian fuel following the invasion of Ukraine and industrial tensions with China.
The study’s authors highlight the unusually immediate decline in the birth rate as part of the pandemic and the coronavirus vaccination campaign. Many women likely would have prioritized vaccines and delayed the birth of children because vaccines were not approved for pregnant women at the time, they claim. saying.
But the researchers also point to other factors, such as Russia’s war against Ukraine and rising energy and food prices.
“In times of crisis, many other people don’t plan to have children,” said Martin Bujard, a researcher at BIB and co-author of the study. “In addition to the pandemic, the war in Ukraine, emerging inflation, and emerging climate changes have a greater sense of uncertainty among the population. “
German corporations are already struggling to fill more than 700,000 vacancies after decades of low birth rates and inconsistent immigration policies. Staffing shortages are likely to get even worse, with gigantic numbers of older staff retiring in the coming years.
Chancellor Olaf Scholz’s ruling coalition has responded to the challenge by passing a sweeping immigration law aimed at removing barriers to attracting professionals from abroad.
The ruling coalition also plans to invest long-term in state pensions by creating a 200 billion euro ($217 billion) equity investment fund through the middle of the next decade.
Postmedia is committed to maintaining a civilized discussion forum. Please keep your comments applicable and respectful. It can take up to an hour for comments to appear on the site. You’ll receive an email if there’s a response to your comment, an update to a thread you’re following, or if a user you’re following is commenting. See our Community Guidelines for more information.
365 Bloor Street East, Toronto, AT M4W 3L4
© 2024 Financial Post, a department of Postmedia Network Inc. All rights reserved. Unauthorized distribution or transmission is strictly prohibited.
This uses cookies to personalize your content (including ads) and allows us to analyze our traffic. Learn more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.
You can manage the parts stored in your account.
And save up to a hundred items!
You can manage your parts stored in your account by clicking the X at the back right of the article.