Katie LaPotin, Red Alert Politics, February 13, 2014
In yet another sign the economy hasn’t completely rebounded from its 2008 collapse, 14 percent of young adults between the ages of 14 and 24 have moved back home with mom and dad, according to a Gallup studyreleased Thursday.
The numbers confirm a depressing statistic that young Americans are having much more difficulty establishing independence from their families following college, much of which is a direct result of the economy and weak job market for Millennials. As a result, many young adults have found themselves delaying major milestones in life such as buying a home or getting married and starting a family.
In its review of the data, Gallup found that young adults are more likely to live at home if they meet at least one of the following three situational factors: they are unmarried, they are unemployed or underemployed, or they have yet to graduate from college.
Marriage, the study found, is still the primary predictor determining whether young adults end up moving back home or not. Out of those surveyed by Gallup, three in four of those who live in home are single and have never been married – twice the rate among those who live on their own. Just under 50 percent of those no longer living with their parents, meanwhile, are married.
Employment and education also plays a key role in predicting whether Millennials are living with their parents. Gallup found that two in three of those living on their own are employed full-time, compared to just 50 percent of those living with mom and dad. Young adults who have college degrees are more likely than their peers to live on their own as well.
The study also found that half of all 18- to 23-year-olds, many of whom are still in school, live at home as well.
These findings aren’t out of the ordinary, either. A report published by the Department of Education last month found that a whopping 22 percent of 26-year-olds are still living at home, while a Pew Research Center study published last summer reported that 21.6 million Millennials lived with their parents in 2012, the highest number for that age group in more than four decades.
Gallup surveyed 4,521 adults nationwide between the ages of 18 and 34 via telephone from Aug. 7-Dec. 29, 2013 as part of its Daily Tracking study. The margin of error for the study is +/- 1 percent at a 95 percent confidence level.