Why are people not getting married anymore?

CNBC International
19 Jul 202306:59

Summary

TLDRThe video examines the global decline in marriage rates, particularly in wealthy nations. Marriage rates have plummeted since the 1970s, especially among lower-income and working-class groups. Factors such as economic instability, secularism, and changing gender roles have contributed to this trend. In countries like Japan and China, where birth rates are closely tied to marriage, declining marriages pose serious demographic challenges. Despite government efforts to incentivize marriage and childbirth, financial concerns and gender imbalances in domestic responsibilities deter many from pursuing traditional family structures.

Takeaways

  • 💍 Marriage is an ancient institution, but it is facing declining rates globally, particularly in richer countries.
  • 📉 Among OECD nations, marriage rates have plummeted from 7-10 per 1,000 people in the 1970s to lower levels today.
  • 💵 Marriage is often linked to financial stability, but despite this, U.S. marriage rates have dropped by 60% since the 1970s.
  • 🎓 Upper-middle-class Americans tend to follow a life path of education, work, marriage, and then children, which contributes to their higher financial stability.
  • 💸 The cost of marriage, including weddings and starting a family, is a significant economic burden that some people avoid due to financial constraints.
  • 👨‍👩‍👦 Working-class Americans have seen the largest decline in marriage rates, largely due to economic instability and the changing job market.
  • 👩‍💼 Women's growing economic independence and secure footing in today's economy have changed marriage dynamics, particularly in working-class demographics.
  • 🛐 The rise of secularism, especially in places like the U.K., has led to marriage being seen as less essential for family formation.
  • 👶 In countries like Japan and China, low marriage rates are directly tied to low birth rates, causing demographic and economic concerns.
  • 🇨🇳 China's government is encouraging marriage and childbirth after its former one-child policy, but social issues, especially related to women, make this difficult.

Q & A

  • What has been the trend in global marriage rates?

    -Marriage rates have been falling globally, especially in the richest countries. 89% of the world's population now live in countries with declining marriage rates, with a particularly significant drop in OECD nations since the 1970s.

  • How has the marriage rate in the United States changed since the 1970s?

    -The marriage rate in the U.S. has dropped by nearly 60% since the 1970s. While marriage rates have remained stable for high-income groups, they have significantly declined among middle- and lower-income groups.

  • Why are wealthier Americans more likely to marry later?

    -Wealthier Americans, particularly the upper-middle class, tend to be more intentional about sequencing life events. They prioritize education first, then career, and marriage comes later, often followed by starting a family.

  • What role does financial stability play in marriage rates?

    -Financial stability has been closely linked to stable marriages. Married households in the U.S. typically hold more wealth than cohabiting couples or singles. However, financial instability, especially among working-class men, has contributed to a decline in marriage rates.

  • How has the role of women in the workforce influenced marriage trends?

    -Women, particularly in service-oriented economies, have gained financial independence, which has shifted marriage dynamics. As women gain ground financially, they may find men from the working-class demographic less marriageable, contributing to fewer marriages and higher divorce rates.

  • How does secularism impact marriage rates?

    -In countries with rising secularism, like the U.K., where 1 in 3 people now report having no religion, marriage is no longer seen as the primary basis for family formation. This has contributed to declining marriage rates and more children being born outside of marriage.

  • What are the demographic challenges faced by Japan and China due to falling marriage rates?

    -Japan and China are facing significant demographic challenges due to falling marriage and birth rates. In Japan, where only 2.3% of babies are born outside of marriage, declining marriage rates are directly impacting population growth. China's birth rate also hit a record low in 2022, contributing to concerns about a shrinking working population and an aging society.

  • What efforts are being made by governments to address declining marriage rates?

    -Governments in countries like Japan and China have introduced various initiatives to encourage marriage, such as state-funded matchmaking apps and marriage support services. However, these efforts have so far been largely unsuccessful in reversing the trend.

  • Why are many Chinese women hesitant to marry and start families?

    -Many Chinese women are reluctant to marry and have children due to the unequal burden of childcare and the lack of support in the workplace. China's society is not seen as women- or child-friendly, which contributes to women’s reservations about starting families.

  • What are the economic implications of declining marriage and birth rates?

    -Declining marriage and birth rates pose significant economic challenges, especially in aging populations. A shrinking workforce, coupled with an increasing dependent population, can strain economies, as seen in Japan and China, where governments are concerned about future economic sustainability.

Outlines

00:00

💍 Declining Marriage Rates in the Modern World

The institution of marriage has ancient roots, but in recent decades, marriage rates have been falling across the globe, especially in wealthier countries. In the 1970s, OECD nations had 7 to 10 marriages per 1,000 people, but by 1995, this dropped to 5 to 7, and continues to decline. Despite the financial advantages often associated with marriage, the U.S. has seen a 60% drop in marriage rates since the 1970s, with couples delaying marriage in favor of education and financial stability. The rising costs of weddings and the economic burden of starting a family further deter people from tying the knot. The issue is especially prevalent among the working class, where unstable employment and financial decline, particularly among men, make marriage less appealing, while women, gaining financial ground, are increasingly opting out of traditional marriage structures.

05:04

👩‍👦 Shifting Family Structures and Economic Pressures

Marriage and family formation are influenced by changing social and economic dynamics. In the U.K., for example, secularism and a rise in non-religious affiliations have led to marriage no longer being seen as the only path to starting a family, with 51% of births occurring outside of marriage in 2021. This trend is also seen in the U.S. and the European Union, where a significant number of children are born to unmarried parents. However, in countries like Japan, where marriage and birth rates are closely linked, the decline in marriage poses a demographic challenge. Japan’s low rate of births outside marriage (2.3%) highlights the economic and societal concerns as the population ages, and government efforts to reverse the trend, such as matchmaking apps and marriage incentives, have so far been ineffective.

Mindmap

Keywords

💡Marriage Rate

The marriage rate refers to the number of marriages per 1,000 people within a given population. In the video, it is highlighted that marriage rates have been declining globally, especially in richer countries and among lower-income groups in the U.S. This trend is used to illustrate societal shifts in attitudes toward marriage and its perceived value.

💡Financial Stability

Financial stability refers to having steady income and economic security, which is often linked to the decision to marry. The video explains that stable marriages are commonly associated with better financial status, and married households in the U.S. tend to have higher wealth compared to singles or cohabiting couples. However, financial instability among working-class men is cited as a reason for the decline in marriage rates.

💡Upper-Middle-Class Americans

Upper-middle-class Americans are individuals or households that belong to a socioeconomic group characterized by higher income, education, and occupation levels. The video suggests that this group tends to follow a specific life sequence—education first, then career, followed by marriage and children—resulting in greater financial and relational stability when they do eventually marry.

💡Working-Class Men

Working-class men are individuals who belong to the socioeconomic group that typically has manual or low-skill jobs. In the video, it is mentioned that this demographic has seen a decline in stable employment and income over the years, which has contributed to their reduced 'marriageability' and increased family instability.

💡Secularism

Secularism is the principle of separating religion from political, social, and cultural affairs. In the video, it is noted that the rise of secularism in societies like the U.K. has led to a decrease in marriage rates, as more people no longer see marriage as a necessary foundation for forming families, leading to a higher percentage of births outside of marriage.

💡Family Instability

Family instability refers to the breakdown or lack of a stable family structure, often due to divorce or separation. The video discusses how family instability has increased significantly among the working-class demographic in the U.S., driven by economic challenges and shifting societal norms, leading to fewer marriages and more single-parent households.

💡Birth Rate

Birth rate is the number of live births per 1,000 people in a population over a specific period. The video highlights the decline in birth rates in countries like Japan and China, where traditional values strongly tie marriage to family formation. Low birth rates are linked to the decreasing number of marriages and are seen as a major demographic challenge for these nations.

💡Economic Implications

Economic implications refer to the financial consequences that arise from changes in societal trends, such as declining marriage and birth rates. In the video, these implications include concerns about a shrinking workforce and increased dependency ratios in countries like China, where fewer people are entering the labor force as more individuals reach retirement age.

💡Gender Roles

Gender roles are societal norms dictating the behaviors and responsibilities typically associated with men and women. The video touches on traditional gender roles in China, where women often bear a disproportionate burden of childcare and household responsibilities, contributing to their reluctance to marry or have children in a society that is not supportive of women-friendly policies.

💡Post-Industrial Economy

A post-industrial economy is characterized by a shift from manufacturing-based industries to service-oriented jobs. The video notes that in this kind of economy, women have found more secure employment opportunities compared to men, leading to changes in traditional marriage dynamics where financial stability once played a key role in forming and maintaining marriages.

Highlights

Marriage rates have been steadily declining across the world, particularly in wealthy countries.

89% of the world’s population now live in countries experiencing falling marriage rates.

In the 38 OECD nations, the marriage rate dropped from 7-10 marriages per 1,000 people in 1970 to around 5-7 in 1995.

Marriage has historically been associated with financial stability, but marriage rates in the U.S. have dropped by 60% since the 1970s.

Upper-middle-class Americans tend to prioritize education, career, and financial stability before marriage, which contributes to their higher marriage success rates.

The cost of marriage starts with a wedding, which can quickly escalate into a significant financial burden.

Raising a family introduces numerous economic commitments, leading some people to avoid marriage or delay it.

Working-class men in the U.S. are less likely to be stably employed, contributing to lower marriage rates.

American men without college degrees have seen stagnating or decreasing earnings, further affecting marriage rates.

Marriage is not just a social commitment; it’s also a financial undertaking, making economic disparities a barrier to marriage.

Secularism is rising, and in places like the UK, 1 in 3 people now report having no religion, contributing to changing attitudes towards marriage.

In Japan, only 2.3% of babies are born outside marriage, meaning falling marriage rates are closely linked to the country's declining birth rate.

Governments, including Japan's, are worried about falling birth rates due to the economic implications, prompting efforts to incentivize marriage.

China’s marriage and birth rates hit record lows in 2022, creating concerns about future economic and demographic stability.

Chinese women are increasingly hesitant to marry due to societal expectations and the unequal division of childcare and household responsibilities.

Transcripts

play00:01

I do!

play00:05

No one knows exactly when the first marriage took place.

play00:08

People have been getting  married for thousands of years.

play00:12

It’s an ancient institution. But for some  people, it is perhaps a bit too ancient.

play00:18

89% of the world’s population now live  in countries with falling marriage rates.

play00:23

This is especially pronounced  in the richest countries.

play00:26

Among the 38 OECD nations, most recorded between  7 and 10 marriages per 1,000 people in 1970.

play00:35

By 1995, this fell to around 5 to 7 marriages. And it continues to plummet today.

play00:42

So, why is this happening, and will it  spell the end of marriage as we know it?

play00:47

A stable marriage has often been  associated with financial stability.

play00:51

Married households in the U.S. hold significantly  higher wealth than cohabiting couples or singles.

play00:58

But despite this, the marriage rate in the  U.S. has dropped by nearly 60% since the 1970s.

play01:06

And the median age for first-time marriages  has increased for both women and men.

play01:11

For a variety of reasons, I think, upper-  middle-class Americans are just much more

play01:14

likely to be kind of intentional about sequencing  their lives in terms of education first, work second, 

play01:22

and marriage third, and the  baby carriage after all of that.

play01:26

And so that they're just in a much better spot,  

play01:27

both financially and relationship-wise  when they go ahead and have kids.

play01:33

The cost of marriage usually starts with a  wedding. This is a tiny wedding cake I bought  

play01:38

in London for $50. Thankfully,  just within our production budget.

play01:42

But if you wanted the same cake  but big enough to serve 100 people,  

play01:46

then you would have to pay  at least $250.

play01:49

Add in the price of a venue, a tuxedo, a dress, drinks and music,

play01:54

and suddenly, you are looking at a very large bill.

play01:57

Getting married is just the tip of the iceberg.  Starting a family adds all sorts of economic commitments.

play02:04

It typically starts with a  house, followed by a car,  

play02:07

maybe kids, which means more expenses  like books, toys, and family vacations.

play02:13

In a nutshell, you become a fully  engaged consumer in the economy.

play02:18

Some people choose not to go down this road  while others simply can’t afford to.

play02:24

From about 1980 to the present, there's  been no greater increase in family instability

play02:28

than there has been among this  working-class demographic in the US.

play02:33

basically in the second quintile of the family income distribution.

play02:37

I think there are a couple of big factors here in play.

play02:39

So, one major factor, of course, is sort of the changing economy,  

play02:43

and the way in which working class men  are less likely to be stably employed.

play02:48

American adults from high income groups have  maintained a stable marriage rate since the 1970s.

play02:54

But among the middle- and especially  lower-income groups, marriages declined to

play02:59

66% and 38% respectively by 2018.

play03:03

Since the 1970s, there has been a decline in  the number of American men

play03:08

without college degrees in the U.S. labour force.

play03:11

The last 50 years also saw their  earnings stagnate and decrease.

play03:16

By contrast, we're seeing women having  a more secure footing in today's

play03:22

sort of more service, post-industrial economy.

play03:24

And so, we know that marriage is many things but it's also, in part, a financial undertaking.

play03:29

And so when you have men who are losing ground  financially in this working-class demographic,

play03:33

and women who are gaining ground, I think they both  kind of see that the guy is less marriageable.

play03:38

And so, they're less likely to kind of get married in the first place, and more likely to get divorced in the second place.

play03:45

Another phenomenon that affects marriage is  the rise of secularism in modern societies.

play03:51

Here in the U.K., for example, 1 in 3 people say  they have no religion, up 25% since 2011.

play03:58

And this is a key reason why marriage is no longer  seen as the only basis for family formation.

play04:04

In 2021, 51% of births in the U.K. took place outside of a marriage. 42% of children in the European Union

play04:13

and 40% of children in the U.S. are also born to unmarried parents.

play04:19

For countries where this is acceptable socially,  the decline in marriage

play04:23

does not necessarily spell trouble for the country’s demographics.

play04:27

But in other parts of the world, most notably in east and south Asia,

play04:32

marriage and birth rates are highly correlated.

play04:35

Only 2.3% of babies are born outside of marriage  in Japan, which means if people don’t get married,

play04:42

they’re also very unlikely to have children.

play04:44

This is a problem for Japan, the world’s 3rd largest economy, and home to the world’s oldest population.

play04:51

The falling birth rate is something that happens in many countries.

play04:55

And governments all over the world are worried because of economic implications.

play04:59

From state funded match making apps to marriage support concierges,

play05:04

the Japanese government has introduced several incentives to promote marriage, but so far, nothing has worked.

play05:10

There is this, you know, financial constraint that people feel that they may not be able to support a family and raise children.

play05:19

A similar problem is troubling  authorities in neighbouring China,  

play05:23

which registered the fewest  marriages in 2022 since public records began.

play05:30

The country also saw  its birth rate fall to a record low the same year.

play05:34

By 2050, China's working population will be reduced by 10%, and not enough, you know, babies born to fill that gap,

play05:44

and the dependent population, those who reach retirement age, will double.

play05:49

In a sharp reversal from its former one child policy,

play05:53

the Chinese government encourages marriage and childbirth since 2016.

play05:57

But this time, it’s Chinese women who  have reservations about married life.

play06:02

The women tend to spend significantly much  more time than their husband in childcare

play06:08

and other related care. And also, the Chinese  workplace is not very women friendly.

play06:14

Why women don't want to get married or  why women don't want to have children is

play06:18

because the society is not women friendly,  the society is not child friendly.

play06:23

Men talk about the personal freedom that they get  for not getting married. But at the same time,  

play06:30

they are really worried that if  they were to set up a family,  

play06:33

they will not be able to sustain  a family with the income.

play06:37

The Western heart is closing in an important  extent to marriage and family life.

play06:42

And that's going to have a huge impact not just economically,

play06:46

but also obviously, socially and emotionally on young adults today.

Rate This

5.0 / 5 (0 votes)

Related Tags
Marriage trendsDeclining ratesFinancial impactCultural shiftsFamily dynamicsEconomic concernsSecularism riseAsia demographicsChildbirth declineMarriage costs