One-Third of Workers Under 35 Live with Parents

One-Third of Workers Under 35 Live with Parents

The plight of young American workers today is not promising. A survey sponsored by the AFL-CIO found that a third of the labor force under 35 lives at home and is lacking health care benefits and job security. For those with annual incomes under $30,000, the number living at home rises to 52%.

About 25% of this age group says they don’t make enough money to cover their monthly bills. It’s not surprising then that only 55% of respondents said they are hopeful about the next five years. When the same question was asked 10 years ago, 77% said they felt good about their prospects. When asked who is to blame for the economic crisis, young workers were most likely to name President George W. Bush, Wall Street and banks, and corporate CEOs.

http://www.allgov.com/Top_Stories/ViewNews/One_Third_of_Workers_Under_35_Live_with_Parents_101009

walmart and every politician who supported NAFTA and other similar trade deals.

Where multiple generations live undere one roof. What that would mean to the housing market is pretty clear.

One thing that a lot of the articles by Elizabeth Warren make clear is the cost of a house is one expense that keeps going up.

I guess with all the forclosures the price could drop to where buying a house is affordable again but I'd guess the banks would never let them go for a price the average wage earner could afford. Or, maybe they could go back to renting them to people, but I also guess that they would not like to rent them because the way they had it set up before the crash they had buyers signing on for super long mortgages so it was just like renting them but they didn't have to pay the upkeep, or property taxes. If they go back to renting to lower income people instead of selling that means they have to take responsibility for the upkeep and taxes on the houses.

Happy times!

:sarcasm:

Ain't America great? :sarcasm:

There's always an upside.. but with people having kids when they are older..30 year olds may often have parents in their 70s..one-child families are a lot more common.
Hmm. ATT and Comcast just have to figure out a way to start charging per adult or something.

We in our consumer driven culture believe we must set up as many different households as possible.

That's why older people "don't want to be a burden" either. Grandpa and Grandma Walton were such a burden; they should have had their own house!

I believe in India or Korea it is common still, or still happens, that newlyweds live with one of the parents! I think it was the housing prices in Korea.

Can't imagine living with my parents until I was 35. Jeebuz!

Don

How horrid...