Posted on 08/02/2013 7:37:04 AM PDT by SeekAndFind
In 2012, 36% of the nation’s young adults ages 18 to 31—the so-called Millennial generation—were living in their parents’ home, according to a new Pew Research Center analysis of U.S. Census Bureau data. This is the highest share in at least four decades and represents a slow but steady increase over the 32% of their same-aged counterparts who were living at home prior to the Great Recession in 2007 and the 34% doing so when it officially ended in 2009.
A record total of 21.6 million Millennials lived in their parents’ home in 2012, up from 18.5 million of their same aged counterparts in 2007. Of these, at least a third and perhaps as many as half are college students. (In the census data used for this analysis, college students who live in dormitories during the academic year are counted as living with their parents).
Younger Millennials (ages 18 to 24) are much more likely than older ones (ages 25 to 31) to be living with their parents—56% versus 16%. Since the onset of the 2007-2009 recession, both age groups have experienced a rise in this living arrangement.
The men of the Millennial generation are more likely than the women to be living with their parents—40% versus 32%—continuing a long-term gender gap in the share of young adults who do so.1
The steady rise in the share of young adults who live in their parents’ home appears to be driven by a combination of economic, educational and cultural factors. Among them:
* Declining employment. In 2012, 63% of 18- to 31-year-olds had jobs, down from the 70% of their same-aged counterparts who had jobs in 2007. In 2012, unemployed Millennials were much more likely than employed Millennials to be living with their parents (45% versus 29%).
* Rising college enrollment. In March 2012, 39% of 18- to 24-year-olds were enrolled in college, up from 35% in March 2007. Among 18 to 24 year olds, those enrolled in college were much more likely than those not in college to be living at home – 66% versus 50%.
* Declining marriage. In 2012 just 25% of Millennials were married, down from the 30% of 18- to 31-year-olds who were married in 2007. Today’s unmarried Millennials are much more likely than married Millennials to be living with their parents (47% versus 3%).
We have a situation where 40 million of 175 million potential workers, are not working.
Frankly, I’m amazed more adult children are not still living with their parents.
This ‘Happy Face’ mentality the government/media try to pass off at the reported 7.5% unemployment that everyone but the government realizes is an out and out lie, is a total sham.
A smart thing to do if the object is to be smart financially.
The sad result of socialism. You wanted your health care from Mommy until 26..hope you enjoy the basement.
I have one. My oldest at 30. He has a good job, but wastes his money. If my hubby and I could get him out of the house, we would. But it seems cruel to kick one of my children out. If he were on his own we’d be empty nesters, enjoying life again as just a “couple”. It seems too far away for us.
This is a good reminder for those who think Obama always lies. He did promise “change”, and he kept his promise.
Obamanomics.
Ages 18 to 31 are not adults?
My daughter, her husband and their newborn live with us. We renovated the house to make 2 separate sleeping/TV/bathroom areas and we share the kitchen & main living room.
The area we are in is simply too expensive for them to even look at getting a house right now, and any apartments they could afford and still try to save up would be in VERY bad areas (scary). Several of their friends (married & unmarried) are in the same situation. My S-i-L is an electrical apprentice and isn’t pulling in big bucks, but at least he has a job, a lot of their friends are laid off or on part-time now.
We actually asked them if they would like to move in, and use the time to save up for a down payment.I figure they’re here at least another couple of years. We don’t mind, they help with the cooking, household and garden chores and I get to spoil my grand-baby.
Look at the average weekly wage for the age cohort. Look at the average price of a house in America thanks to the maxim, “housing prices must never drop”
A reckoning is coming and it is coming soon.
Not until they are capable of supporting themselves.
Do yourselves and him a big favor...tell him it’s time to get his own place, so you can enjoy some privacy in yours.
I’m one of the lucky ones. I have enough work to live on my own. But, I rent a small room at an excellent price. Houses are still out of my price range and will be until I can finally get a full time teaching position. Until then I’ll just keep working and saving and following Dave Ramsey’s principles. I’m doing ok, but I could be doing a lot better..
I thought these vidiots knew everything. Guess not.
I was born in 1944, in the era and area of my youth it was considered the norm for young people to live with their parents until married but they married young. I was considered strange because I did not marry until I turned 28!
In fact by the time I was 23...yes I mean 23 I was already considered fairly hopeless because I did not already have a wife and at least one child! One sixty year old woman who had just started working where I worked actually asked me how many children I had and when I replied none she wanted to know why. I told her I thought I should be married first and she then asked my age. When I told her 23 her reply was, “You’re 23 and you’re not married? What’s wrong with you?” It is unimaginable now in a world where 18 year olds are called children and act like children.
It is really difficult for a young adult to find a stable full-time job, unless you have specialized skills. So, they have to work multiple part-time jobs.
She just leveraged a part-time job into a full-time salaried position (albeit without benefits, since it is a very small business). So, she is on her way to more stability.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.
