Boomerang Generation – Amazing Statistics!

The trend continues.  Adult children are returning to live in their parent's homes.  Some return after college, some after divorce or illness, some simply to regroup financially.  The statistics tell the story:

• Living with Parents:
  • According to the Pew Research Center, 13% of parents with grown children say one of their adult children are still living at home.
  • According to Monster.com’s  Annual Entry-Level Job Outlook
    • 2006 - 42% of college graduates lived with their parents after graduation.
    • 2008 – 40% of college graduates lived with their parents after graduation.
    • 2009 – 40% of college graduates lived with their parents after graduation.
    • 2010 – 52% of college graduates lived with their parents after graduation.
    • Overall, 1 in 8 adults between 25 and 34 live with their parents.
• Receiving Financial Help:
  • According to a Survey by AARP – 25% of adults between 28-39 receive financial help from parents.
  • According to the Journal of Marriage and Family – 79% of adults between 18-33 receive financial help.
• Job Outlook for Recent College Grads
  • 20% have a full-time job.
  • 44% of those fully employed took less than 4 months (56% longer).
  • 52% are living with parents.
• Reasons for returning home:
  • 71% of returning college graduates indicate that they are returning home because of money.
  • 17% for convenience.
  • 9% are not ready to move out.

Length of Stay:

• • 58% of returning college graduates expect they will live with their parents for 7 months or longer.
• Debt and College Grads:
  • 66% of college grads have student loans.
    • 63% of college graduates in 2009.
    • 54% of college graduates owe more than $10,000.
  • 34% of college graduates have credit card debt upon graduation.
• Employment: US unemployment rate (Bureau of Labor Statistics)
  • 9.1% unemployment as of July 2011.
  • 16-19 age = 25% unemployment as of July 2011.
  • 20-24 age = 14.6% unemployment as of July 2011.
    • Men 15.7% unemployment as of July 2011.
    • Women 13.2%unemployment as of July 2011.