Broke and Jobless: One-third of Young Adults Live with Parents

Red Millennial

Tuition is going up, up, up, and that means many young adults are being forced to rack up mountains of debt in order to graduate college. However, graduates are simply not finding the jobs they were expecting upon completion of their degrees, and that means young adults are moving back in with the folks.

A recent study found that 31 percent of adults aged 18-34 are living with their parents. This in turn is contributing to a home ownership rate this at its lowest in 19 years. Although the national unemployment rate has fallen in recent months, the labor participation rate reveals that a growing number of young people are dropping out of the workforce altogether.

lnu01327662_max_630_378Bussiness Insider has the full scoop:

Increasing numbers of young Americans are heading to college, where they’re racking up debt to pay for rapidly increasing tuition costs.

Those graduating are being confronted by a challenging jobs…

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