The U.S. is facing a “brutal reality” of nearly zero-percent growth in its working-age population for at least a decade, according to Hedgeye Demography analyst Neil Howe.
Howe dug into a long-term forecast for U.S. economic growth in a recent institutional Black Book presentation. He found that even with a sudden change in fertility and immigration, the U.S. is unlikely to see the kind of growth in working-age population the U.S. saw from the mid 1970’s to the mid 80’s and again in the 90’s.
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“We are entering this decade-long ‘super trough’ of working-age population growth,” Howe explains in the clip above. “And it looks like, for the rest of our lives, we will never again see the working-age population growth we experienced as recently as 2011. People want to bring back the Reagan economy. But back in the early 1980’s…you had a huge wind at your back [of] 1.7% per year free GDP growth just from warm bodies.” |
Watch the full clip above for more.
