1.  Population Growth & Trends

2. U.S. Population  Important b/c  It’s the source of labor  It’s primary consumer of output  Size, composition, & growth rate impact performance  Census occurs every 10 years  Provides information that is used to project future population

3. Counting Population  1 st census in 1790  U.S. Census Bureau created in 1902  Bureau collects info on population  Uses different methods to count special populations like the homeless

4. Growth & Regional Change  U.S. grown considerably since colonial times  Rate of growth has slowed  In 1970s population shifted to western & southern states  Center of population has also shifted from Maryland to Missouri

5. Consequences of Growth  Population distorts macro measures, so they are reported as per capita  Grows too fast – country ends up with shortages  Grows too slow – not enough workers to support growth  Shifts stress existing resources  Takes long time to build infrastructure, accurate predictions important

6. Projected Trends Age & Gender  Aging baby boomers drive characteristics of population  Baby boomers retire soon  Burden of pensions, Social Security, & Medicare falls on younger generations

7. Race & Ethnicity  2000 – Whites largest race, followed by African Americans, Hispanics, Asians, & Native Americans  Fertility rates, life expectancies, & immigration will change racial statistics

8. Future Growth  3 Factors  Fertility Rate – Births expected in a woman’s lifetime; Current rate barely offsets replacement rates  Life Expectancy – Average remaining life span; Expected to increase  Net Immigration – Change caused by people moving into country; Expected to increase  Population expected to grow, but growth rate will decline  Increased productivity will offset effects of declining growth

9. Future Challenges  Age of population is a concern, retirement numbers will increase  Increased demands for products needed by elderly  Declining need for facilities for the young  Changes gradual, can be anticipated  One benefit of market economy is it adjusts quickly