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2.5 Million Unemployed Young Adults Living With Parents

  • November 13, 2012

by Shilpi Paul

2.5 Million Unemployed Young Adults Living With Parents: Figure 1

In the past five years, the number of unemployed adult children in the U.S. who live with their parents has risen from 1.3 million to 2.5 million, reported The New York Times recently.

2.5 Million Unemployed Young Adults Living With Parents: Figure 2
Courtesy of The New York Times.

From the Times:

Based on demographics and previous trends in household formation, it looks as if the country still has about 1.8 million fewer households today than it would have in a more “normal” economy, and most of that total household deficit is accounted for by the lower numbers of households formed by those in the 15-34 age group. Demographics suggest that there should be about 1.1 million more households headed by younger Americans today than there actually are.

According to a previous study conducted by Ohio State University and reported by Bloomberg, about 25 percent of adults between ages 18 and 30 live with their parents.

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This article originally published at http://dc.urbanturf.com/articles/blog/young_adults_still_living_with_parents/6288

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