Also, employment is a lot less stable than it used to be. When I entered the workforce in the early 80s it was still common for people who were retiring to have worked for the same company all their lives. Young people now live in a gig economy; if they *do* work for a company, often they don't know how many hours they'll get from week to week.
And while things like TVs are cheaper than ever, essentials are often far more expensive. Median rents for a studio apartment in the US were about $250 when I got out of school; today they're $1200. If you have income twice the poverty rate and you follow the advice we were given back then to spend no more than 20% of your income on housing, you'd be looking to pay $483/month in rent. In most of the US even if you have roommates you'll be spending over $1000 per month.
Today it's more economically important to have a degree than ever. While wages for new college graduates have increased only modestly, wages for non-college graduates have dropped since the 1980s. Let's say you're thrifty and decide to commute to a state college. Your four year costs have risen from $3,200 to over $44,000. So families in their prime reproductive years are burdened with debt; it takes years to overcome that and to raise.
We often take poor families to task for being irresponsible and having children they can't afford, but the fertility rate in families below the poverty line isn't that high and it's remained steady for decades. What's happened is that the fertility rate at 200% of the poverty line has crashed.
Most women, with access to contraception and abortion, are doing what we told them is the responsible responsible thing. But if they *all* did it, it would be a demographic catastrophe.