Are you a recent grad who can’t afford to pay your own rent? Or a young adult who got laid off and can’t find another job? Congratulations! You’re part of a majority.
Sky-high student debt and minimal job opportunities create a perfect storm for young adults, and will force an estimated 85 percent to return home this year after graduation, according to projections from Twentysomething Inc., a young adult consulting firm.
This is not news anymore, but the numbers are pretty staggering. And in your favor. So feel free to kick back and relax on Mom’s old sofa while
looking up porn job hunting. Now that over three out of every four kids are going to be living at home, you have nothing to be ashamed about. This is what our generation does. Whip out your moleskin, write some agitated poetry about being forced to eat brussel sprouts for dinner, then go out on the town and try picking up girls with their own apartments. Ride out this recession in the warm arms of your parents, who love you no matter how many futile resumes you’ve sent out.
We lucky grads get to be called a “boomerang generation” because apparently, we remind old people of flying wooden sticks. Either way, this year will be about “finding yourself” and maybe learning how to balance a checkbook while Daddy pays your rent. Don’t despair! This could be the time you’ve been waiting for to start on that novel or photography project you’ve been talking about for years. Heck, you could even start a blog with all your free hours.
So, fellow unemployed who have been moving home in droves, say goodbye to your independence and hello to warmly cooked meals for the next year or so. Thank god the recession affords you another year to putz around on someone else’s bank account.
A list of stats to recite for your condition while rolling your eyes are after the jump.
An estimated 37 percent of 18-29-year-olds are either unemployed or out of the workforce – the highest percentage of this age group in nearly three decades, a 2010 Pew Research Center analysis of Bureau of Labor Statistics data found.
Among 18-to-34-year-olds, 10 percent say the recession has forced them to live with their parents, a 2009 Pew Research Center study found.
Unemployment levels are the highest they’ve been in a generation and unemployment rates for college grads younger than 25 are nearly double their pre-recession levels, according to the Economic Policy Institute.