The effects of the “great recession” continue to plague society. A new study reveals that for the first time in history, in the 130 years since statistics like this were first monitored, living with parents is the most common living arrangement among young people. According to the statistics, 32.1% of all 18-34 year old’s still live at home with their parents, more than any other living scenario.
Breaking down the statistics further, 31.6% of participants are either living with their spouse or relationship partners – the second largest grouping in the study. To give some perspective to this figure, in the 1960s, 62% of 18-43 year old’s were married or living with a partner – literally double the figures we see today. Only 14% of people within this demographic live alone, and the remainder of participants classify themselves as living with another family member, a non-family member or in group-living situations such as college dorms or prisons.
When we break down the statistics by gender, we find that young females tend to be much more independent and established compared to their male counterparts. Approximately 35% of adult men between the age of 18-34 are still living with their parents compared to 29% of females. Furthermore, 35% of females respond that they live with a partner in a committed relationship, whereas only 28% of males say they live with a partner in committed relationships.
When we break down the statistics by race, African-Americans are the leaders, with nearly 35% of respondents reporting they still live with their parents. This number is compared to 30% of whites. As far as education, as you might expect, the study found that 36% of people who did not attend college still live with their parents, compared to 19% of people who graduated with a degree. In one of the most interesting correlations, the study found that 44% of college graduates are also married or living with a spouse – far more than any other grouping of people.
There are several reasons for this phenomenon, some referenced in the study and some not. Chief among them however, is the state of the global economy, which has struggled to rebound since the recession of 2008. Other studies have shown that even though the millennial population has surpassed the baby boomer population, the average millennial spends just $85 a day – 28% of all spending in the United States. Simply enough, millennials do not have the same job opportunities other generations have had in the past.
To that point, 90% of jobs created since 2009 are part time. So, the second largest factor behind these statistics is the passing of the Affordable Care Act. This law required parents to carry and provide health insurance to their children until the age of 26 – re-enforcing the notion for kids to stay at home and live off mom and dad rather than provide for themselves. Moreover, part time job growth exploded because of this legislation. If an employee works for over 30 hours, employers are required to pay for their health insurance. As a result, employers around the country cut full time employees in favor of more part time employees. This means, on average, the average American worker now makes less money than they did before the Affordable Care Act.
Third is the accumulation of debt associated with attending college. It is widely documented that the average college student will graduate with nearly $30,000 in student loan debt. Faced with crippling debt and low paying jobs, many young people have no choice but to move back with their parents.
Lastly, there is a great societal shift happening in terms of the definition of traditional marriage as well as people’s desires to become married. As the statistics reference, nearly half the number of people in 2016 are married or living with a partner than in 1960. Other studies have shown that millennials are getting married at later ages than at any other time in history, 25% say they have no intention of ever getting married, and this is largely due to how society views marriage.
With the increased discrimination of gays and transgenders in American society, along with the rise of atheism as America’s fastest growing religion – and the fact that marriage is traditionally a religious affair – when you combine all of this, the concept of marriage is ‘progressively’ becoming less and less popular. The fewer young people getting married and moving away from home, the more people stay home to live with their parents.
Source: NPR, Pew Research Center
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