I think he's talking about people who are at a decent standard of living that becomes reduced, thus the potential parents not "wanting to bring a child into this troubled world."
I believe I fit squarely in to that category. I'm just old enough to have seen the fall of 'corporations who hire for life' in to 'everyone for themselves' employment. It is a disheartening drop in live stability.
That seems counter to all actual evidence doesn't it? The places with the poorest standards of living have the most children and visa verse.