Australia is experiencing a baby recession with the cost-of-living crisis being attributed to the nation's plunging birth rate.
The number of births across Australia has fallen to a 17-year low with the nation experiencing a baby recession due to cost-of-living pressures.Australia is experiencing a baby recession with the cost-of-living crisis being attributed to the nation's plunging birth rate .
"We haven't seen such a sharp drop in births in Australia since the period of economic stagflation in the 1970s, which coincided with the initial widespread adoption of the contraceptive pill," he said. "This combination of the pandemic and rapid economic changes explains the spike and subsequent sharp decline in birth rates we have observed over the past four years."
Canberra, however, recorded the same number of births in 2023 as it did in 2019, with 5,530 babies born.
Baby Recession Economy KPMG Cost-Of-Living
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