Final answer:
There were more than 124 million young people aged 15 to 29 in Latin America and the Caribbean as of 2017. Urbanization and industrialization are contributing to declining family sizes and fertility rates, influencing population dynamics.
Step-by-step explanation:
As per information from LibreTexts™ in 2017, there were more than 124 million young people aged 15 to 29 in Latin America and the Caribbean. Rapid urbanization and changing fertility rates affect these demographics significantly. Over the years, family sizes have been larger, leading to a higher percentage of young individuals in the population.
However, as countries in Latin America and the Caribbean urbanize and industrialize, median family sizes and fertility rates are declining, slowing population growth. Therefore, while regional urban centers are increasingly facing challenges related to housing and infrastructure due to migration from rural areas, the population dynamics are also changing with the advancing socio-economic landscape.