There are 150,000 fewer children living in New York City than on the eve of the pandemic—a nearly 9% drop. The five boroughs lost 3.5x as many kids in the four years after 2020 as they did in the previous ten. 🧵 ...
Fertility is having a moment—but it's not what's driving the decline. Between 2020 and 2024 the 5 boroughs had more births than children aging out of childhood—a net gain of 17,000 from natural change alone. The real mechanism is migration.
Families are leaving primarily for the suburbs. Nassau (Long Island) absorbed nearly one in ten of the kids who left. Westchester took 5%. Fairfield CT and Suffolk each got 3.5%. Bergen, Hudson, and Essex NJ each absorbed another 3%.
But 15 of the 17 NYC-MSA suburb counties also lost kids between 2020 and 2024, because the suburbs have a fertility shortfall—118 children age out for every 100 born. [END]
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The @BLS_gov Consumer Expenditure Report has tracked household budgets since 1984. How is the median household doing today vs then? In short: incomes are $16k higher, and food and clothing are cheaper. But the avg household is spending $5k more on #housing. (1/10)
The rise in incomes has been the main tailwind for household finances. In 1984 the median household (middle quintile) earned just under $45k (2021 dollars). In 2021, the median household earned almost $61k. (2/10)
Despite stagnant wages, income are higher:
1: We are working more: unemployment is lower, participation is higher, and we are working longer hours.
2: Non-wage income: bonuses/benefits/pension contributions are up.