UH-OH: How Many Young People Living At Home Are Deadbeats?
A new survey is out on the economic status of millennials; the numbers suggest that a decent amount of them are deadbeats living at home.
The survey, conducted by the Census Bureau, found that in 2016 31 percent of millenials live at home with their parents – which includes living in college dorms – while only 27 percent live with their spouse, 21 percent were in the "other" category, 12 percent lived with an unmarried partner and eight percent lived alone.
By contrast, in 1975 those numbers were 26 percent, 57 percent, 11 percent, one percent and five percent, respectively.
The survey also found that between 2005 and 2015, the percentage of young adults living at home with their parents increased from 26 percent to 34.1 percent and the percentage of young adults living independently declined from 51 percent to 40.7 percent in the same timeframe.
Among those in the 18 to 24 age range, nearly 15.8 million lived at home with their parents, nearly 4.5 million lived independent and slightly over 7.7 million lived with roommates.
Of those that lived with their parents, 65.4 percent were in the 20 to 24 age range; the rest were between the ages of 18 to 19 years old.
Additionally, 57.2 percent of those in the 18 to 24 age range were employed, while a combined 42.8 percent were either unemployed or out of the labor force. Nearly 95 percent of those in that age range earned incomes in the range of $0 to $29,999.
Among those in the 25 to 34 age range, the statistics somewhat improved, as over 24 million lived independently, over 10 million lived with roommates and a little over 8.3 million at home with their parents. But the survey noted that "less than two-thirds of older millennials live independently." Those that lived at home with their parents were mostly between the ages of 25 and 29 (65.6 percent); 68.9 percent of those in the 25 to 34 age range status were employed but 74.6 percent had incomes in the $0 to $29,999 range.
Overall, 25 percent of those in the 25 to 34 age range living at home with their parents were not working or going to school. They are simply deadbeats.
The Daily Wire has previously reported that millennials don't consider themselves until the age of 30; these survey findings seem to reflect that.
H/T: Michael Hendrix