Money A quarter of millennials who live at home don't work or study

21:10  20 april  2017
21:10  20 april  2017 Source:   Bloomberg

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A life of leisure, free of bosses and bills, sure sounds like the dream — and it turns out millions of millennials are living it. Most of those who live at home but neither work nor study have a high school diploma or less, and about a fifth have a child.

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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 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.

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A quarter of millennials living at home with their parents have no job and no responsibilities. The U.S. Census Bureau released a comprehensive study Wednesday analyzing the economic Nearly 1-in-3 millennials live at home with one-in-four living idly, meaning they neither go to school or work .

Nearly a quarter of Millennial men said the same. (The homeownership rate is just 33 percent for Millennials ages 26 to 29.) She worked "close to full-time" at jobs and internships throughout high I don ' t believe in paying rent, so I lived at home and saved money all through college," she says.

BC-A-QUARTER-OF-MILLENNIALS-WHO-LIVE-AT-HOME-DON-T-WORK-OR-STUDY:   © Polly Mosendz  

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. 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. 

Most of those who live at home but neither work nor study have a high school diploma or less, and about a fifth have a child. Half are white, and the majority are male. About a quarter have a disability. The report defines a disability as "hearing difficulty, vision difficulty, cognitive difficulty, ambulatory difficulty, self-care difficulty, or independent living difficulty."

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Young people still living at home is slowly becoming the new normal. The rise in house prices, especially in London, but elsewhere as well, means that more millennials are biting the bullet and moving back into their parents’ house, whether they’re actually saving money or not.

Only 14% of Millennials live in rural areas, compared with more than a quarter of Boomers (29%) and a third of the Silent Generation (36%) at the same ages. % of Millennials who connect to the internet wirelessly when away from home or work . Studying and Working % of Millennials who …

BC-A-QUARTER-OF-MILLENNIALS-WHO-LIVE-AT-HOME-DON-T-WORK-OR-STUDY:   © Polly Mosendz  

"Almost 9 in 10 young people who were living in their parents’ home a year ago are still living there today, making it the most stable living arrangement for young adults," the report said. "In 2005, the majority of young people lived independently in their own household (either alone, with a spouse, or an unmarried partner), which was the predominant living arrangement in 35 states. By 2015—just a decade later—only six states had a majority of young people living independently." 

Robots Will Have Hard Time Stealing Canadian Millennials' Jobs: Study .
Robots may have a harder time stealing Canadian millennials’ jobs than was previously thought. Baby Boomers, on the other hand, are at serious risk from the rise of the machines. A study from job search site Indeed found Canadian millennials are more interested than other generations in jobs that are relatively safe from automation. That “relatively” qualifier is in there because there is almost no such thing as a job that’s safe from automation anymore. But millennials’ interests lie in the sort of creative, non-repetitive work that machines have a hard time replicating. “Millennials are showing greater interest in higher-skilled, and non-routine occupations that are less likely to face replacement by automation,” Indeed economist Daniel Culbetrson wrote on the company’s blog. “In fact, only three of the 15 occupations preferred by millennials are routine occupations.” The Indeed study looked at six months’ worth of job search data, dividing all jobs into four categories — non-routine cognitive, non-routine manual, routine cognitive and routine manual. It divided job seekers by age group into millennials (ages 20 to 36), Generation Xers (ages 37 to 52) and baby boomers (ages 53 to 71). Job-seeker interest in a position was measured as the share of clicks an ad received, as a percentage of all clicks. The work that millennials disproportionately favour tends to be non-routine and cognitive, like jobs in life sciences and social sciences, along with art, design and media jobs.

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