This report on marriage as a child-rearing institution offers some good news and some bad news for children. On the upside, there has been a slight and recent increase in the percentage of children in two-married-parent families, the first reversal of a four-decade-long trend. Some government indicators point to improvement in key areas of child wellbeing. A growing number of private and public initiatives are aimed at strengthening married parent families. On the downside, marriage has continued to decline as a status of parenthood over four decades. There has been a sharp increase in cohabiting couples with children. The percentage of households with children has dropped from nearly half of all households in 1960 to less than one-third today, a demographic shift with major implications for children's centrality in the society. Further, amid a society of material abundance, there are signs that the psychosocial wellbeing of children is declining.