According to a new census report released Wednesday, millennials are struggling to gain the same independence that many generations before them have achieved, resulting in more young adults in being left dependent on their parents well into their 20’s and 30’s.
As the report shows, this failure to launch scenario is becoming all too common among millennials, resulting in larger numbers of them depending on their family units to survive while they attempt to earn college degrees during a time that the job-market is shifting in dramatic ways.
Anthony Carnevale, the director of Georgetown University’s non-profit Center on Education and the Workforce, the census results are “a product of a shrinking blue-collar economy.”
One such millennial laminating the difficult journey into adulthood, 21-year-old Kyle Kaylor told NBC News that it “became too difficult financially to be in school and not working,” adding “without schooling, you can’t get a job that you can survive on, so I had to move back home.”
Further complaining that he was forced acquire a job in the fast food industry (as many of us did at his age) while trying to earn college degree to achieve a fulfilling career, Kaylor expressed that launching into adulthood has been tricky.
You don’t say…
In 2015, one-third or about 24 million young adults, ranging from 18 to 34, lived with their parents, according to the report.
“Living in an independent household is expensive and the ability to do so hinges, in part, on young adults’ economic resources as well as the costs of rent and home-ownership,” the report stated.
While 81 percent of those who live at home are either working or going to school, one in four between 25 to 34 are “idle, meaning they are not in school and do not work” the report stated.
Is this side-effect of the ‘everyone gets a trophy‘ mentality or something else? Share your thoughts on the millennial generation’s failure to thrive in the comment section below.