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Millennials: More Living with Parents than Life Partners

Posted By Administration, Tuesday, May 31, 2016

Pew Research said in 2014 hard to figure out millennials — those aged 18 to 34 — are more likely to be living with their parents than in their own homes with a spouse or a life partner. Those figures were picked up from the U.S. Census Bureau and Pew says this is the first time it has happened in the “modern era.”

 

Young men are more likely to be living with mom or dad or mom and dad than young women:

 

  Men — 35%

  Women — 29%

 

The percentage of young men living with their parents and not spouses or partners crossed over in 2009. For women that happened in 2014.

 

Breaking it down by ethnicity:

 

  1980 is when more young blacks began living with parents rather than partners.

  For American Indians the year was 2007.

  Young Hispanics crossed over in 2011.

 

Pew’s report said, Trends in living arrangements for specific groups of young adults indicate that the crossover is being driven by the experiences of more economically disadvantaged young adults, specifically, less-educated young adults and some racial and ethnic minorities.”

 

The report expanded on that statement and gave reasons:

 

  The increase in the median age of the first marriage for both men and women.

  The level of employment of young men declining over the last couple of decades.

  The level of wages for young workers over the last couple of decades.

 

Recession also may be playing a part in the line-crossing. More young people are going to college and as a result many live at home. There are also not as many jobs opening for young people so living at home is the safety net most are using to weather the economic storm.

 

Source link: PropertyCasualty360.com


Tags:  Insurance Content  Insurance Industry  Insurance News  Millennials  Millennials & Insurance  Millennials: More Living with Parents than Life Pa  Weekly Industry News 

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