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A lot of money was spent to make sure that happened
I talk about this topic with my (childless) wife quite a bit. Reasons we postulate:

The rent is too damn high

It takes longer into adulthood to achieve stability

Porn brain

Phone brain (24/7 infinite entertainment)

Dating apps are not delightful

The pandemic led some people to stay in for good

Loss of third places (rent too damn high again)

Tight job markets lead to reluctance to bring kids into the picture

Healthcare is more expensive every year

American individualism diminishes multi generational family support structures after a generation

A long tail of other causes: drugs, gun violence, obesity, losing one's religion, growing up with divorced parents

Yes that’s everything.
> This represents a rapid acceleration of the trend, with the surplus of childless women growing from 2.1 million in 2016 to 4.7 million in 2022, and now to 5.7 million in 2024.

Did anything happen in 2016 that young women might have interpreted as a signal that they were on their own and facing hostility?

Along with the factors listed by others, I wonder to what degree that a pervasive dysphoria about the present and future is leading to a conscious decision to not usher more humans into the chaos and uncertainty that has become the American norm. I’m in my 60’s, secure and reasonably set; but even I feel an undercurrent of anxiety that pervades American life.
The greater demographic picture is looking grim,with an ageing population, restricted imigration, total uncertainty as to what is a legitimate residency status, outright war on foriegn labour, so that american women not having children, en mass, is startling, and will have a similar effect in creating a power shift like what is happening in China and asia where governments industry, (and presumably men) are having to incentivise women to have children. American adversaries and competitors, many who were recent allies, are heading in different directions, rising income levels, and poulations, with climate and social pressures are creating challenges that have pragmatic solutions in new technologies, which the US is regecting and oposing.
I mean, people aren't going to try to have kids if they think that their immediate futures and longer term futures aren't worth bringing people into.

Like, if you think that your future is a good place, then you're more likely to want to have kids.

If we want to raise the birthrate, then we've got to listen to the people that can have kids and do what they want.

It's all about perception as no one can predict the future.