For nearly 250 years, America has only known growth. 2025 could be the first year on record the US population shrinks. Population growth has two sources:
- Natural increase (births minus deaths)
- Net immigration (arrivals minus departures)
Last year, births outnumbered deaths by 519,000, and AEI estimates that net migration in 2025 could be negative 525,000.

In many states, foreign-born workers make up more than a third of the construction workforce:


Source: Derek Thompson