Live on Bloomberg TV

00:00WEDNESDAY, AND WE NEED CERTITUDE. THE CERTITUDE IS THAT WE WILL NOT ADJUST THE BIRTH RATE OF THE UNITED STATES OF AMERICA. >> WE HAVE DONE OUR PART, ALREADY. JAMES: THE PROBLEM IS THIS IS THE NEW NORMAL FOR YEARS TO COME. TOM: MY LONELINESS IS THE NEW NORMAL? >> PLUS PRODUCTIVITY, WE HAVE TALKED ABOUT LABOR GROWTH -- LABOR FORCE GROWTH IN THE PAST. LABOR FORCE PROJECT -- LABOR FORCE PARTICIPATION, THE WHITE LINE IS THE -- IT CAN -- IT KEEPS GROWING BUT BECAUSE THE GOAL LINE IS GOING DOWN, YOU ARE HAVING A SMALLER PORTION OF THE -- THIS IS GOING TO CONTINUE FOR QUITE SOME TIME, BECAUSE YOU TAKE A LOOK AT SOME NEW STATISTICS OUT FROM THE GOVERNMENT, SHOWING THAT THE BIRTH RATE CONTINUES TO FALL. THE NUMBER OF BABIES BORN IN THE UNITED STATES IS ABOUT FLAT. CAN SEE THE BABY BOOMERS, WILL THE MILLENNIALS -- THAT IS THE NUMBER OF BABIES BEING BORN, BUT THE LINE BELOW THAT IS GENUINE TO DECLINE. FEWER WOMEN HAVING FEWER BABIES, AND THAT MEANS AS A PROTECTED -- PERCENTAGE OF THE ECONOMY, THE NUMBER OF WORKERS AVAILABLE IS GOING TO BE SMALLER. YOU FILL THAT GAP WITH IMMIGRATION, POLITICIANS WHO WANT TO LIMIT IMMIGRATION ARE THIS POINT PLAYING WITH FIRE. FRANCINE: I'M PLAYING WITH SOME OF THE BLOOMBERG VISUAL DATA, AND IT IS SHOWING US -- YOU CAN SEE THE LOW FERTILITY RATE, SO THAT AN ANYTHING WE HAVE IN EUROPE. DOESN'T MEAN THAT YOU CAN MAKE UP FOR IT WITH IMMIGRANTS? >> THAT IS WHAT HELPED THE UNITED STATES IN THE PAST, AND WHAT IS HURTING JAPAN AS THEY HAVE A CULTURAL BIAS AGAINST IMMIGRATION. THERE IS A THREAT TO THE U.S. RIGHT NOW. THE U.K. HAS HAD A LOT OF IMMIGRATION OVER THE PAST TWO YEARS AND DOES HELP RAISE THE LABOR FORCE, RAISES PRODUCTIVITY AND POTENTIAL GROWTH RATE. NOW YOU'RE TALKING ABOUT LIMITING THAT IN THE U K AS WELL. TOM: IS THIS A LIVE OR DEAD MEETING? >> THERE IS NOT GOING TO BE ANY KIND OF RATE DECISION. TOM: MICHAEL MCKEE AND TOM KEENE

No schedule data available.

U.S. Labor Force Feels the Effects of a Baby Bust

The U.S. labor force is suffering from the lowest participation rate in more than thirty years as the U.S. birth rate reaches its lowest level in nearly a century. Bloomberg's Michael McKee explains on "Bloomberg Surveillance." (Source: Bloomberg)

More From Bloomberg Surveillance
All episodes and clips

Bloomberg Markets
"Bloomberg Markets" is focused on bringing you the most important global business and breaking markets news and information as it happens.
More episodes and clips