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Unable to find well-paying work in a weak economy, escalating numbers of young adults – as many as 3 in 10 – are returning home to the family nest, resulting in the highest share of young adults living in multigenerational households since the 1950s, according to a Pew Research Center report released Thursday.
“The rise in the boomerang phenomenon illustrates the effect the recession and the weak economy are having on young adults,” says Kim Parker, a senior researcher at Pew and the author of the study. “Young adults were hit particularly hard in the job market and are having to delay reaching some basic financial milestones of adulthood because of this.”
In 1980, some 11 percent of young adults lived in multigenerational households, suggesting that a strong economy helped youngsters gain independence more quickly. Today, some 29 percent of 25- to 34-year olds either never moved out of their parents’ home or say they returned home in recent years because of the economy, according to the Pew report. Among 18- to 24-year olds, that figure is even higher – 53 percent of young adults in that age group live at home.
Originally posted by Sharpenmycleats
These kids don't give a damn about chemistry!
Originally posted by jdftp
Nice post & comments so far.. Yes it does seem to be like I remember my folks always saying "when I was -- age I was ..." Now it seems most young people around my age seem to be less independent* (for lack of better words) . Maybe it is because we see through the shallow knowledge and refuse to go along with the game? Maybe the game is just harder? Maybe the game isn't working? Maybe we're not?* (nahhh)*edit on 18-3-2012 by jdftp because: (no reason given)
Originally posted by AnIntellectualRedneck
Between a crappy economy, stagnant wages, and tons of student debt, it really shouldn't be all that big of a surprise that it's happening. I lived alone for a long time. Just recently returned home. Though, granted, it's more about a stable environment until I find stable employment than anything.