Covid Baby Bust Has Governments Rattled

Graphic:

Excerpt:

Of course, there’s a case to be made that fewer people in advanced economies is a good thing. But arrayed against that are all the “because groaf” forces. The two drivers of growth are demographic growth, as in more people, and productivity increases. National leaders are afraid of becoming the new Japan, having an aging population and falling in the “size of economy” pecking order, when Japan has weathered a financial system crisis and implosion of real estate prices with remarkable grace. And the demographic time bomb? The feared dependency ratio? More older Japanese work. Japanese even more so than Westerners prize attachment to communities and organizations, so it would probably suit those who are able to handle it to remain in the saddle or get a part-time job.

But the big point is that the Covid impact on child-bearing is widespread and looks set to continue for quite a while. The old solution in advanced economies for low birth rates was immigration. But that’s now become fraught. First is that neoliberalism-induced widening income disparity means those on the bottom are extremely insecure. Bringing more people in to them sure looks like a mechanism for keeping their crappy wages down. Second is advanced economies now eschew assimilation as if it were racist. But what did you expect, say, when Germany brought in Syrian refugees, who skewed male and young, and didn’t even arrange to teach them German? The notion that there’s a public sphere, where citizens hew to national norms versus a private sphere seems to have been lost (having said that, I don’t understand the fuss about headscarves; Grace Kelly wore them, so why should a religious intent matter?).

Author(s): Yves Smith

Publication Date: 5 March 2021

Publication Site: naked capitalism

Covid-19 Isn’t the Only Thing Shortening American Lives

Link: https://www.bloomberg.com/opinion/articles/2021-02-23/covid-19-isn-t-the-only-thing-shortening-american-lives

Graphic:

Excerpt:

The 2020 life expectancy numbers also underscore longer-term health challenges that were already alarming. For two to three decades, life expectancy has been improving much more rapidly for higher earners than for lower earners, and 2020 has probably made these gaps worse. The one bright spot in the differential trends before the pandemic had been a narrowing of racial differences. These new estimates show a dramatic reversal of that hopeful pattern. From the early 1990s to 2016, the racial gap in life expectancy for males at birth shrunk from more than 8 years to about 4.5. During the first half of 2020, it widened to more than 7 years.

…..

On the contrary, 2020 mortality data indicate that death rates from non-Covid causes rose, despite the economic recession. More Americans than expected died from diabetes, high blood pressure and pneumonia. Some of these deaths may have been misreported, and actually caused by Covid. But a large number may also reflect the challenges in providing non-Covid health care during the past year, as people have avoided hospitals, and government mandates have restricted discretionary medical procedures. The pandemic will provide hard lessons on which types of medical care truly improve health, and which ones can be safely skipped or delayed.

Author(s): Peter R. Orszag

Publication Date: 23 February 2021

Publication Site: Bloomberg

US life expectancy drops a year in pandemic, most since WWII

Link: https://apnews.com/article/us-life-expectancy-huge-decline-f4caaf4555563d09e927f1798136a869

Graphic:

Excerpt:

Life expectancy in the United States dropped a staggering one year during the first half of 2020 as the coronavirus pandemic caused its first wave of deaths, health officials are reporting.

Minorities suffered the biggest impact, with Black Americans losing nearly three years and Hispanics, nearly two years, according to preliminary estimates Thursday from the Centers for Disease Control and Prevention.

“This is a huge decline,” said Robert Anderson, who oversees the numbers for the CDC. “You have to go back to World War II, the 1940s, to find a decline like this.”

Author(s): MARILYNN MARCHIONE

Publication Date: 17 February 2021

Publication Site: Associated Press

2020 Excess Deaths in the US general population by Age and Sex

Link: https://www.soa.org/resources/research-reports/2021/excess-deaths-gen-population/

Report link: https://www.soa.org/globalassets/assets/files/resources/research-report/2021/excess-deaths-gen-population.pdf

Graphic:

Excerpt:

Excluding the first two and a half months of 2020 before COVID-19 deaths were prevalent, the total U.S. mortality A/E ratio ranged between 119% and 121%, with about 84% of the excess deaths identified as due to COVID-19. Considering the full year of 2020, the A/E ranged between 114% and 116%.

Deaths for people under age 15 were lower than expected, but all older ages showed excess mortality. The following table considers the A/E ratios for the period after the emergence of COVID-19 and uses a fiveyear trend on death rates by ages and sex to set the expected deaths.

Author(s): Rick Leavitt, ASA, MAAA

Publication Date: February 2021

Publication Site: Society of Actuaries

Red State Budgets Are Suffering The Most In This Recession

Link: https://www.forbes.com/sites/lizfarmer/2021/02/18/red-state-budgets-are-suffering-the-most-in-this-recession/?utm_source=newsletter&utm_medium=email&utm_campaign=follow&cdlcid=5f3d53896be319c3c36cff29&sh=7f2620337b69

Graphic:

Excerpt:

Of those states suffering at least a 3% drop in revenue since the start of the pandemic in March 2020, two-thirds (eight in 12) are red states. Alaska, Florida, North Dakota and Texas are seeing some of the worst revenue losses of 9% or higher over the comparable period in 2019, according to the latest data from the Urban Institute.

Across the 47 states from which the institute has full data, total state tax revenues were down by $14 billion in the first ten months of the pandemic (between March and December 2020) compared to the same period a year earlier. That’s an average drop of 1.8% and is largely driven by declines in sales tax revenue.

Author(s): Liz Farmer

Publication Date: 18 February 2021

Publication Site: Forbes

COVID-19: New Study Reveals Danger To Younger Americans, Who Are Dying At Historic Rate

Link: https://dailyvoice.com/new-york/northsalem/news/covid-19-new-study-reveals-danger-to-younger-americans-who-are-dying-at-historic-rate/799940/

Excerpt:

Contrary to popular belief, COVID-19 is taking its toll on younger Americans, who are dying at a historic rate, according to a new study.

Research published this week in the Journal of American Medical Association found that Americans between the ages of 25 and 44 have died at a rate that has never been seen in history.

During the study, a total of 76,088 deaths were reported in adults between those ages, which was 11,899 more than the expected 64,189 fatalities during that stretch.

Author(s): Zak Failla

Publication Date: 19 December 2020

Publication Site: Daily Voice

States of Growth and Decline

Link: https://www.wsj.com/articles/states-of-growth-and-decline-11609460276

Excerpt:

Sixteen mostly coastal and Rust Belt states lost population from July 2019 to July 2020, according to the Census Bureau’s annual population survey, and Illinois, West Virginia, New York, Connecticut, Mississippi and Vermont have shrunk since 2010. At the same time, many low-tax Sun Belt states have continued to attract newcomers.

The pandemic may have contributed to population losses in some states as city dwellers with means escaped to rental and vacation homes. Foreign immigration also fell after President Trump suspended new green cards in April. Some states, especially in the Northeast, experienced thousands of more deaths than usual due to Covid.

But the bureau’s annual population estimate captures only the first few months of the pandemic when migration generally declined as most people hunkered down. Geographic mobility increased over the summer and fall, and the pandemic seems to have accelerated migration flows that have been occurring for years. States such as New Jersey, Michigan, Pennsylvania and California have counted on foreign immigration offsetting net out-migration. That didn’t happen this year, so many states lost population for the first time in decades.

Author(s): Editorial board

Publication Date: 31 December 2020

Publication Site: Wall Street Journal

U.S. life expectancy fell by a year in the first half of 2020, CDC report finds

Graphic:

Excerpt:

Looking further at racial disparities in the data, the gap in life expectancy between non-Hispanic white and Black people widened from 4.1 years in 2019 to six years in the first half of 2020 — the largest gap since 1998.

“The disparities between those populations have been declining consistently, since we began estimating life expectancy, which goes back to 1900,” she said. 

The gap between Hispanic and white non-Hispanic individuals narrowed, however, from three years in 2019 to 1.9 in 2020.

Author(s): Rebecca Sohn

Publication Date: 18 February 2021

Publication Site: Stat News

US life expectancy dropped a full year in first half of 2020, according to CDC

Link: https://www.cnn.com/2021/02/18/health/life-expectancy-fell-pandemic/index.html

Excerpt:

“A year of life expectancy lost doesn’t really give you a true sense of how serious this has been. Millions of life years were actually lost,” Eileen Crimmins, a professor at the University of Southern California who has researched changes in mortality, told CNN. “Covid is on track to cause more deaths than cancer or heart disease, and that’s important.”Most deaths due to Covid-19 have been among older adults, which would have a small effect on overall life expectancy.

But Theresa Andrasfay, a researcher at the University of Southern California who has published work on the potential impact of Covid-19 on life expectancy, notes that while deaths among younger adults may be less common, the numbers are still substantial.

Author(s): Deidre McPhillips

Publication Date: 18 February 2021

Publication Site: CNN

Provisional Life Expectancy Estimates for January through June, 2020

Link: https://www.cdc.gov/nchs/data/vsrr/VSRR10-508.pdf

Graphic:

Excerpt:

In the first half of 2020, life expectancy at birth for the total U.S. population was 77.8 years, declining by 1.0 year from 78.8 in 2019 (6). Life expectancy at birth for males was 75.1 years in the first half of 2020, representing a decline of 1.2 years from 76.3 years in 2019. For females, life expectancy declined to 80.5 years, decreasing 0.9 year from 81.4 years in 2019 (Figure 1).

Author(s): Elizabeth Arias, Ph.D., Betzaida Tejada-Vera, M.S., and Farida Ahmad, M.P.H.

Publication Date: February 2021

Publication Site: CDC

US life expectancy drops 1 year in first half of 2020 amid coronavirus pandemic, CDC says

Link: https://abcnews.go.com/Health/us-life-expectancy-drops-year-half-2020-amid/story?id=75965992

Graphic:

Excerpt:

The decline in life expectancy was seen across racial and ethnic groups but was most severe in minorities, with Black Americans losing 2.7 years (from 74.7 to 72.0) and Hispanic Americans losing 1.9 years (from 81.8 to 79.9) during the same period. Meanwhile, white Americans lost less than a year (from 78.8 to 78.0), according to the report.

Hispanic Americans traditionally have the most longevity compared to other racial and ethnic groups in the U.S., and provisional estimates show they still do. Hispanics saw their “advantage” in this regard compared to Black Americans increase from 7.1 years in 2019 to 7.9. years in the first six months of 2020, the report said.

Author(s): Morgan Winsor

Publication Date: 18 February 2021

Publication Site: ABC News