America is experiencing a “baby bust” as an increasing number of millennials are choosing not to have children, according to an alarming new report. More Americans are now dying than are being born.

We need to have 2.1 births to keep pace with deaths, but that number hasn’t been reached since 2010, according to the Negative Population Growth Inc., which sees a decline in the fertility rate as very good news.

“The fertility rate decline is driven entirely by millennial mothers in their teens and twenties,” said the report. “Birth rates for all age groups of women under 30 fell to record lows in 2016.” That rate has dropped down to 1.8 births, which means America’s population is now in decline.

The data shows that the trend is also being seen among immigrant millennials. This is surprising, given the fact that immigrants have historically produced more babies than the native population. However, the report found that a huge shift is taking place.

“Birth rates among the foreign born, including [m]illennials, have been higher than those of the U.S. born. But recent data shows that the foreign born rate is now falling significantly faster in all foreign born age groups than among the U.S. born. [The report] concludes that in matters of family size, immigrant millennials have embraced the ‘smaller is better’ ethos of their host nation,” according to the report.

As a result, it said, “the Total Fertility Rate (TFR) has slipped below the 2.1 children per mother threshold regarded as the ‘replacement level.’”

The report identifies three reasons for millennials choosing not to have big families:

  • the poor economy
  • the broken American Dream
  • job losses millennials witnessed growing up

“Millennials came of age during the worst economic crisis since the Great Depression. Many saw their parents lose their jobs, their homes, and their dignity — and vowed they would not repeat those mistakes. As a result, life-cycle milestones so prized by their Baby Boomer parents — the first driver’s license, marriage, children, home-ownership — are postponed, or abandoned altogether, by millennials.”