Friday, April 21, 2017

Many Millennials Still Live With Their Parents Even After the Recovery - FORTUNE

by Annalyn Kurtz
Originally published: April 20, 2017

Throughout the recession, you probably heard the stories of “boomerang” young adults who returned home to live with their parents even after graduating from college. Many of these college grads “failed to launch,” because the job market was tough and rents were high.

But now we’re well into the economic recovery, and still a large share of millennials is living with their parents. And at least among the older millennials (those ages 25 to 34) the reasons could have more to do with lack of education, poor health and disabilities, rather than a weak economy, a Census demographer says.

About 24 million young adults – or one in three of all 18- to 34-year-olds – lived in their parents’ homes in 2015, a Census Bureau report released Wednesday shows. The vast majority are working toward a firmer footing, either by working, going to college, or both.