A Quarter Of Millennials Who Live At Home Don’t Work — Or Study [Watch]
Polly Mosendz, Bloomberg News
Half are white, and most are men, the Census Bureau reports.
A life of leisure, free of bosses and bills, sure sounds like the dream — and it turns out millions of millennials are living it. But don't congratulate them yet. They're doing it under their parents' roof and not necessarily by choice.
About a third of 18- to 34-year-olds in the U.S. live at home, the Census Bureau reported on Wednesday. That includes college dormitories. Among 25- to 34-year-olds living at home, one in four is neither enrolled in school nor working. That's 2.2 million people, a small percentage of the nation's more than 70 million millennials but a striking figure nonetheless.
More 18- to-34-year-olds live with a parent than with a spouse, according to the report, The Changing Economics and Demographics of Young Adulthood: 1975–2016 (pdf). That's a major shift from the 1970s, when young people were more than twice as likely to live with a spouse. Young adults today are also likelier to be enrolled in college or graduate school than their counterparts in the '70s.