Report: 42.8% of Young Men Lived With Family in 2014
According to a new report from the Pew Research Center (link below), the percentage of young people aged 18 to 34 who lived with parents or relatives last year continued to increase, despite the fact that the national unemployment rate continues to trend lower.
According to the report, 42.8% of young men between the ages of 18 and 34 lived with family last year, while 36.4% of women in the same age group also chose the same living arrangements. These numbers are both up since the end of the "Great Recession".
Despite the fact that the US economy seems to be improving, many young people are choosing/being forced to live with their family (parents or relatives). There are a number of reasons for this, including:
1) High cost of living means that many young people are not able to afford to live on their own
2) Lack of decent paying jobs for young people
3) Many young people who are able to find decent jobs are not able to afford to live on their own due to high student loan debt
In addition, many young people are choosing to delay getting married due to their financial circumstances, which makes living at home in their late 20s and early 30s more palatable.
In 1940, 36.2% of women between the ages of 18 and 34 living with their family. Over the following decades, this number dropped to roughly 20% as many women got married, found employment or elected to enrol in college. Since the 1960s, however, the trend has reversed higher, as more and more women are choosing to live with their families into their 30s.
In short, this report paints a distressing picture of the state of the US economy.
Source: PewResearch.org - Record share of young women are living with their parents, relatives
Filed under: General Knowledge