More young, college-educated adults are living with their parents instead of venturing out of the nest. That’s the finding of updated Census Bureau figures that question the nation’s economic recovery.
The new data underscores the sluggish nature of the economy. Demographers are calling them “Generation Wait.” Many are paying back mountains of student debt and can’t even think about buying homes or venturing out to start a business.
Marriage and families are delayed, too. The Associated Press says many are staying in apartments, doubling up with roommates to cut costs.
The Census Bureau says among adults, age 25 to 29, fewer than 5 million moved in the 12 months ending in March of 2013.
That’s just 23.3 percent of that age population, the lowest since 1963. The peak of 36.7 percent came in 1965, during the youth counter-culture movement, acording to the AP.
About 1 in 5 young adults between the ages of 25 to 34 is connected from work and school.
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