The Economy and Marriage

Author: Dr.Franklin

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#1
Dr.Franklin
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The economic shock of the recession put marriage on the back burner for many young adults, according to a 2014 study from the Urban Institute.The Urban Institute looked at millennials' age-specific marriage rates and projected that, if the post-recession rate continues, the number of millennials who marry by age 40 could drop at least 12% from the rate among current 40-year-olds.Many millennials don't have the economic freedom or security to pursue marriage because the 2007-2008 recession led to depressed wages and increased unemployment. These young people need to focus on graduating and finding a job, instead of courtship and, eventually, paying for their weddings.
Even if the marriage rate bounces back — notably, college-educated have seen a slight increase since the recovery began — fewer millennials will marry by age 40 than for any previous generation of Americans.



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Swagnarok
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Marriage is a sound economic decision actually. A dual-income household without kids would have a waaaaaaay easier time paying rent (or, alternately, the mortgage) and affording the occasional luxury. Research even shows that married men tend to earn more (a lot more, over the long term). I would presume that all modern people know how to use birth control to, say, put off the first child for at least the first 3-5 years of marriage, or for however long it takes to get their finances in check.
The wedding issue is also a rather arbitrary one. For whatever reason people nowadays often want crazy expensive weddings but a simple ceremony at one's local church, where the bride perhaps wears a hand-me-down dress, and then a family get-together at someone's house where everyone brings one food item and a beverage, with a very modest honeymoon (if at all), would be manageably affordable.

The only real barrier I can see here is, say, underemployed people who still live at home, but save in cases of mentally ill people I can't see that being an issue all the way up to age 40.

The actual reasons are:
1. Unrealistic expectations that one can or must find a "sole breadwinner for a family of four" job before they tie the knot
2. Inflexible and wasteful thinking about finances and budget that lowers the perceived limit of how much they can "make work"
3. Lack of motivation to actually go out there and establish/continually invest in a meaningful relationship with someone of the opposite sex
4. Perceived lack of need for marriage because "I like living alone and I can just bust a nut when I get bored"
5. Desire not to be limited sexually, or to have to give up hobbies and recreational activities (especially after kids are born)
6. Insecurities due to personal shortcomings like obesity or an STD
7. Desire not to have to work longer hours (especially if, say, you're working 35 hours a week in a Wal-Mart and live in a trailer park)
8. Longer times spent in college, and therefore in putting off a full-time career
9. Fear of the marriage ending in a divorce (especially for men)
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@Swagnarok
I agree to an extent
#4
zedvictor4
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Marriage is archaic nonsense. Reinvented and remarketed. Give us your money and we will give you back, absolutely nothing at the end of the day.

Birth - Life - Death and a bit of procreation: This can all be achieved without marriage.

Financial stability can also be achieved with or without marriage.

The benefit of no marriage, is no divorce when you've had enough.



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triangle.128k
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Late stage Capitalism destroys marriage, it's simple.

The economic shock of the recession put marriage on the back burner for many young adults, according to a 2014 study from the Urban Institute.The Urban Institute looked at millennials' age-specific marriage rates and projected that, if the post-recession rate continues, the number of millennials who marry by age 40 could drop at least 12% from the rate among current 40-year-olds.Many millennials don't have the economic freedom or security to pursue marriage because the 2007-2008 recession led to depressed wages and increased unemployment. These young people need to focus on graduating and finding a job, instead of courtship and, eventually, paying for their weddings.
Even if the marriage rate bounces back — notably, college-educated have seen a slight increase since the recovery began — fewer millennials will marry by age 40 than for any previous generation of Americans.
Depressed wages were problems since 1970, it's nothing new at all. It's only going to get worse with time assuming the trend continues. The modern American economy doesn't serve the middle class, it serves global finance and powerful corporations.

As wages and incomes continue to depress while "female liberation" continues to go on, marriage is slowly going to become an old-fashioned institution assuming nothing changes. This is a trend that has been happening for decades, it's absolutely nothing new.