Posted on 10/28/2015 5:24:56 AM PDT by smartyaz
Back in 1999, a quarter of all 25-year-olds lived with their parents. By 2013 this number has doubled, and currently half of young adults live in their parents home.
While the troubling implications for the economy from this startling increase are self-evident, and have been extensively discussed both here and elsewhere (and are among the key factors pushing both the US and global economy into secular stagnation), a just as important question is why are increasingly more young adults still living at home.
Labor Market and Higher Education
One potential reason for the increase in young adults living with their parents is the labor market. The authors highlighted research showing that individuals at the beginning of their careers often need more time to transition into the labor market. This is reflected in the unemployment rates of those between 21 and 27, which are often higher than for other age groups.
Earning a college degree can help with labor market outcomes, as young adults with a college degree are more likely to live independently. However, additional research has shown that the underemployment rate for recent graduates was about 40 percent during the Great Recession. Canon and Gascon noted: “An implication is that a significant portion of recent graduates were earning lower wages than what they should have been, given their education.”
Also affecting many young adults is that they started their post-education careers during a recession. Canon and Gascon discussed a study noting that those entering the job market during a recession pay a price for about a decade. They wrote: “That’s because they start work for lower-paying employers and slowly work their way up toward better-paying jobs.”
(Excerpt) Read more at zerohedge.com ...
Usually they’re worse than worthless - they’re trouble.
The ability to delay gratification is the primary indicator of someone’s eventual wealth.
The left, however, absolutely despises the concept.
[My kids are expected to choose a degree that leads to a career (if they were not the college type, they would not go to college for the social life - they would learn a trade).]
^ This + 1. Raise them right, teach them to see reality. My oldest {21} graduated in May, 2nd in his class {electro-mech}, minor in machining manual and CNC programming {plan B}. He’s been taught to always have a plan B,C,D so forth. Spent 4.5 months home doing his own job search nation wide. The big job search methods weren’t working so he spent time on Craig’s list searching areas of the country he wanted to live in.
Did a bunch of interviews, had some offers, finally picked a company in Utah. Went to 3 rounds of interviews and testing, beat out 4 other applicants from across the country for what I think is a great job with a killer salary for a recent graduate. He said the other applicants couldn’t meet the even basic test requirements.
What’s my point? Put the effort into learning and preparing for the real world, don’t expect that because you have a sheepskin employers are going to beat a path to you. Ther are good jobs out there but it takes effort.
I’ve worked for defense contractors for30+ years and the U.S. government mandates quotas for women and minorities at all levels. Managers and directors can barely write a coherent email.
One product manager would start his meeting review of metrics by saying “in the lass pass sic mont”...it was sad, actually.
I don't trust my kids to the military with a muslim president CIC.
I hear you. A member of my family worked for a defense subcontractor in semi-rural Pennsylvania. The population there was 98.8% white. The company had to do triple-backflips to entice minorities to even apply there. Most did not want to drive out from the city. Those who did had to be let go eventually after too many Monday absences (the result of weekend activities in the ‘hood.). Also sad.
“The ability to delay gratification is the primary indicator of someone’s eventual wealth.”
This is worth repeating to every child and young adult at every opportunity.
Well, I guess they could go to Mexico or Canada or stay here and bomb buildings as some of obama’s compatriots did.
BTW, my point was not to chide anyone for not going in the military under this POS. Rather it was a sarcasm of these pointless surveys. The reasons are self evident: lack of motivation, poor economy, poor choice of major, desire of huge beginning salary, sponging off family, no desire to start a family or simply to amass some savings. These are all under written by the entitlement/welfare society IMO.
I was thinking the same thing. At least these young adults aren’t shacking up with each other. Maybe this is a sign that the “generation gap” of old is starting to disappear. After all the society in which today’s young adults came of age (1990’s-2000’s) isn’t as radically different from the one in which their parents were raised (’70’s-80’s) was from their grandparents’(50’s-60’s). One can hope at least.
The poison idea that our elders are not to be trusted was planted by Marxists and worked very well during the 60’s and beyond for a while. But now that we have all been surrounded by the same gutter culture for decades, at least our kids know that we can relate to what they are faced with, and hopefully look to us for advice on how to navigate it wisely.
There was one in TV production land who turned off spell check on purpose.
Maybe one or two setences would make any sense once in a while.
My father’s rule was when I was 18 and out of high school, I was on my own. There would be no freeloading at home. I didn’t stick around to see if he was serious. Six days after graduating, I was on my way to MCRD San Diego.
My 27 yo daughter, married now and with a young baby, was able to buy a home shortly after they got married because she lived at home for 3 years after college and saved a lot of $. Her husband had been on his own living here in Northern VA area and he was not able to save dime one because he was having to pay for rent etc. It depends on the cost of living in your area. My 24 yo son got a job directly after college and is currently living at home while he builds up his bank account and will hopefully be able to do the same. I doubt he will live here until marriage, and will likely get an apt with his buddies.
Aside from all the obvious negative implications of this demographic shift (and believe me I love to bash those millenials)... BUT does anyone else any positive implications for society that parents get a few more years to influence their kids or that the families stay together a little bit longer? Just trying to look from the other side.
Remember when everyone used to speak appreciatively of Asian cultures where they had 3 or 4 generations living together?
Are we just being overly negative?
Freepers have a tendency to be overly negative and it’s become disconcerting to me.
My daughter did NOT live with her fiancé in order to save $, she lived at home. I am sure there are instances where millenials are taking advantage of their parents by freeloading at home, but one should not infer that just by the mere fact that someone is living at home in their 20s. Had I felt for an instant that we were being taken advantage of, we would have insisted they either pay rent or move out on their own.
Statistically she's at her peak value on the dating scene. It's all downhill from here. She should marry soon or she will probably marry less. Many women think because of their increasing beauty from age 15 to 25 things will only get better, but that's not how it works.
Just from that graphic it looks like the problem is much greater in Demon Rat Illinois than those southern, redneck states. I’d like to see the list of all 50 states.
That’s not counting the number of 40 year-olds living with their parents in 2013. If they were living with their parents in 1999, where were they in 2013, still in college or unmarried with children?
Wife’s sister’s son, age 43, has lived with his mother all his life, except for a 4 year period when he was married. It’s sad. He works and contributes to expenses though.
but one should not infer that just by the mere fact that someone is living at home in their 20s....................
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You get an “A+” for the day, for using the word “infer” correctly!
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