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The potential for solutions, such as immigration, investments in technology, and social policies aimed at supporting families, forms a crucial part of the conversation. Carney emphasizes that while legal immigration can alleviate some pressure of a shrinking workforce, much more must be done to encourage innovation and enhance productivity to contend with these demographic changes.

Shifting Priorities and Cultural Influences

An important aspect of the fertility decline is the changing societal landscape. Many individuals, women in particular, now face increased opportunities in the workforce alongside evolving views on parenting and marriage. As education levels rise and economic conditions shift, families demonstrate varied desires and capacities regarding childbearing.