Birth rates are declining all over the world except in the poorest countries. As countries become richer their birth rates drop because people have more options in their life. I think a simpler explanation for the covid baby bump is that people didn't have anything else to do.

Suicide is tragic but according to the CDC there were 7,135 deaths from suicide for people under 25 in 2021. The number one cause of death for people under 25 are accidents with 20,139 deaths in 2021. It would be extremely unpopular, but raising the driving age to 21 would dramatically cut those accidental deaths.