More Millennials Living at Home Than During Depths of Recent Recession

Image Courtesy of Shutterstock.com.

Image Courtesy of Shutterstock.com.

A new study shows millennials are less likely to leave the nest. Westwood One Correspondent John Stolnis reports that during the recession near the end of the last decade, many young adults facing a dreadful job market moved in with their parents to save money. Now, jobs may be more plentiful and the economy has improved, but many members of the millennial generation have yet to leave the nest, according to a new study. In fact, even more of them are living at home now.

An analysis of census data by the Pew Research Center has found that 18- to 34-year-olds are less likely to be living apart from family members than they were even during the depths of the recent recession, the worst economic downturn since the 1930s.

“Young adults were the age group that was hardest hit by the Great Recession,” said Richard Fry, a senior researcher at Pew. “They’re not fully healed from the damages.”