The US Population had a steady decline in its annual growth rate since 2003 as seen from the graph below.
Focusing on the 3 most recent years, there has been an annual population growth rate of less than 0.50%. From 2019 to 2020, the US population grew to 0.49%. Then from 2020 to 2021, the US population grew to 0.31%. Finally, from 2021 to 2022, the US population grew at 0.38%. This is slow as compared to the annual population growth rate from 1950-2002 which has always been above 1.0%.
According to the Census Bureau, the three primary reasons for the decline of population growth since the mid-2010’s were the steady decline in births and international migration while deaths have been increasing. On top of that, the impact of the COVID-19 Pandemic amplified the already slowing population growth.
Referenced from Investopedia, a financial media website, a growing population from the working-age group can significantly contribute to a nation’s economic prosperity. While a nation with a declining birth rate coupled with an aging population could pose a degeneration of economic growth in the future.
Below is a presentation of the US Population in 2020 by Age and State
Data from tableau were sourced from www.kff.org. Note: KFF estimates are based on the Census Bureau's March Current Population Survey (CPS: Annual Social and Economic Supplements), 2017-2021.
Meanwhile, below is a visual presentation of the The Annual Estimate of the Resident Population for the United States’ Regional States and District of Columbia: as of July 1, 2021
