More Millennials Living at Home with Parents, Even as Job Market Improves

Saturday, August 01, 2015
(photo: Getty Images)

An improving economy and job market have not been enough to coax millennials out of Mom and Dad’s house.

 

A new study by the Pew Research Center shows more millennials are living at home now than before the Great Recession, even though the economy has been recovering for several years.

 

During the first third of this year, 42.2 million individuals 18-34 years old lived on their own, according to U.S. Census Bureau numbers analyzed by Pew researchers. That’s fewer than in 2007, before the downturn, when 42.7 million headed their own households.

 

Looking at just the post-recessionary period, the trend is for millennials is to stay with their parents. In 2010, 69% of this group lived independently. Five years later, the number has fallen to 67%.

 

“Over the same time period, the share of young adults living in their parents’ homes has increased from 24% to 26%,” Richard Fry wrote at the Pew Research Center.

 

At the same time, employment opportunities have become more abundant.

 

Unemployment among millennials dropped from 12.4% in 2010 to 7.7% in the first third of 2015.

-Noel Brinkerhoff

 

To Learn More:

More Millennials Living with Family Despite Improved Job Market (by Richard Fry, Pew Research Center)

Even More Millennials are Living at Home (by Claire Zillman, Fortune)

Millennials Less Likely to Leave the Nest, a Pew Study Finds (by Dionne Searcey, New York Times)

Record Percentage of Young Adults Living with Parents (by Noel Brinkerhoff, AllGov)

Comments

Leave a comment

captcha