Clive Crook, Columnist

America’s Demographic Stagnation Will Make It Poorer

April 10, 2026 at 9:00 AM UTC

Clive Crook is a Bloomberg Opinion columnist and member of the editorial board covering economics. Previously, he was deputy editor of the Economist and chief Washington commentator for the Financial Times.

Bye-bye.
Photographer: Camerique/Archive Photos/Getty Images

Provide news feedback or report an error

Site feedback:

Take our Survey

Conditions in the labor market affect the economy in two main ways. Whether the labor market is running hot or cold affects the Federal Reserve’s decisions on how best to deliver on its mandate of price stability and maximum employment. And the size of the labor force is critical to the outlook for growth, and much else besides.

The first issue is the crux of monetary policy: It preoccupies investors and analysts. The second is less discussed, more important and now more worrying.