50% of young adults are living with their parents. Do you find it hard to believe? I know!
I could not believe it at first either. A recent Pew Research Center report have found that more young adults (18 to 34 year olds) are living with their parents than any other living arrangement.
Some people may argue that the 18 to 24 year olds should not be counted as it is normal for them to still live with their parents. If they are going to college, then I can agree with them. However, everyone within that age group do not go to college during that time. I was not living with my parents during that time nor were every other 18 to 24 year old.
The age of eighteen makes you legal to do everything except consume alcohol. So, I think it is fair not to exclude this age group. 50% of them are living with their parents. 25% of young adults (25-29) and 13% of young adults (30-34) are also living with their parents.
The underlying cause for this statistic is the real unemployment and underemployment rate, not the official rates from the Bureau of Labor Statistics. While there is not a sole authoritative source for the real rates, some reputable research organizations and online publications have given us a better picture of the real stats.
Within the last year, Gallup has discovered that only 45% of Americans work at least 30+ hours a week. CareerBuilder has found that two-thirds of minimum wage workers cannot meet their basic expenses. The Atlantic learned that 55% of households do not have enough savings equal to a month's income.
So, what is the answer? There are many answers, but one answer is my international bestselling book, Reaching The Finish Line.
The book is free and will be autographed by me. You just need to pay $4.95 for shipping, which includes a tracking number.
This offer expires on Valentine's Day.