Two Thirds Of Young American Adults Live With Their Parents

Tyler Durden's picture

As part of its periodic report on "Society at a Glance" which looks at how youth across member states are faring in terms of several social indicators, such as employment, poverty, marriage and health, the OECD also provided a unique glimpse into modern household composition, namely the percentage of young adults, those aged 15-29, living at home. What it found is that since the Great Recession, there have been significant shifts worldwide in the number of young adults living at home.

From 2007 to 2014, the number of youth living at home in countries belonging to the Organization for Economic Cooperation and Development increased by 0.7%, rising to 59.4%. 

As expected, the nations hit hardest by the global economic slowdown such as Italy, Slovenia and Greece had the highest percentage of youth living at home with their parents, at 80.6%, 76.4% and 76.3%, respectively. In itself, that is hardly surprising, since countries like Greece and Italy were not only among the harfest hit by the recession, and have a culture of young adults living longer at home, but also have some of the highest unemployment rates for young people. In fact, as the chart below shows, some 15% of young adults in OECD countries, or a whopping 40 million, were what the report classifies as NEET: not in employment, education or training, with both Italy and Greece at the very top, just behind Turkey.

On the other end of the spectrum, Canada had the lowest percentage of youth living with parents, with just 30% of the country's youth still living at home. The Nordic countries, including Denmark, Sweden, Finland and Norway, also had low numbers of young adults living at home.

In terms of deterioration, France was by far the leader, with the number of young people cohabitating with their parents rising 12.5% to 53.5% from 2007 to 2014. Report authors attribute the increase in part to the high numbers of young adults in France who are not in the workforce or in education. In France, some 16.6% of young adults were not in a job or education institution in 2015, also a notable an increase over the previous few years. Cited by US News, Claire Keane, an economist with the OECD's social policy division said that "we really think this is a crisis story," In France, she says, many benefits flow through families to reach young people. "They are relying on parents for financial support."

As for the US, there has been a 3.9% increase in the proportion of youth living with their parents from 2007 to 2014, significantly higher than the OECD average. As a result, today, about 66.6% of American 15- to 29 year-olds with their parents as opposed to on their own or with a roommate, compared to around 62.8% before the crisis.

 

The report's findings comply with a recent Pew Research Center analysis, which found more young adults (the Pew study cohort was ages 18-34) in the U.S. living with their parents than at any time since around 1940.

Without job and income security, the OECD report authors warn, young adults could postpone reaching traditional markers of adulthood. Poor economic prospects could begin to affect health, fertility, crime and even "social cohesion."

A summary breakdown of the entire's report's finding is shown below:

 

A full, interactive breakdown of the study's metrics is presented below.

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nmewn's picture

Heckuva job Brownie!

JusticeTBuford's picture

Hope and Change keeps us Stronger Together.

Hitlery_4_Dictator's picture

These same broke ass youths still chant 4 more years, a third term!  F em.  As we say in Texas "come and take it fags."

Son of Loki's picture

"We need some common sense basement living legislation."

lance-a-lot's picture
lance-a-lot (not verified) Son of Loki Oct 5, 2016 9:01 PM

Living with Mom and Dad might not be a bad idea.
http://bit.ly/1RNBtsl

Manthong's picture

Hey, look at the bright side of this…

We could have a return to the true American nuclear family and idyllic 1960’s values.

You know… Granny, Jed, (hot) Elly May, Jethro….

Of course Mr. Drysdale their banker who happens to live next door is always being vexed by the true Americans.

And we all really should have a See-ment Pond out back.

 

Oh.. and I live on a golf course and one of these days I will be shooting some of them golfs.

The problem is that the ranges seem to only go up to 550 yards or so...

Way too short.

 

Backin2006's picture

I could never understand why child care (looking after other people's kids) is considered productive, but looking after your own is not. The former contribute to GDP, the latter does not.

Instead of Western governments working out ways to include prostitution in GDP figures, perhaps they would be better trying to find a way of more fairly assessing the contribution of stay at home moms. And dads.

buzzardsluck's picture

Female thinking: Should I bang the guy who lives at home in ill fitting clothes, low IQ and can't wear a baseball cap correctly OR bang the older, fat guy who has a house by his lonesome and money (ironically knowing she won't be wanted by either after a couple weeks).

 

Don't judge, we all pay for pussy in some fashion.

crossroaddemon's picture

If you're paying for it you're not doing it right. Learn some fucking game. Dating is for women you are ALREADY sleeping with. If I can't get into a chicks pants by the third meeting WITHOUT buying her anything I move on to the next one.

buzzardsluck's picture

You need to hold class, please explain this meeting stuff without the male spending anything (by spending I mean money and/or his time, which are one and the same).   To be technical, I didn't say shit about dating.

 

I'm ready to learn.

 

Pitz, don't confuse educated with intelligence.

pitz's picture

Actually its the college graduates more likely to live at home these days because of the crushing student loans and very few job opportunities.  Low IQ couldn't be anything further from the truth.  More like high IQ in many cases as most of the 'growth' sectors over the past 15 years since the dot-com boom were of sectors requiring lower intelligence and specifically dis-favouring the intelligent.

The use of H-1B's to displace the intelligent has been relentless.  At least the less intelligent still had their retail and government jobs as in the past.

hardmedicine's picture

I hate fucking H1-B interlopers

Whenever I find out i'm talking to one I let them know that they are taking the position of a real American and should go home.

Multi's picture

Tell the smart people from other countries to get out...    what a plan!

ebworthen's picture

Yes, Obummer, the Bush's, and Slick Willy - all traced back to Wall Street and the M.I.C.

"Let's load the next few generations with un-payable debt, and shaft Mom, Pop, and Grandma and Grandpa too!"

Lot's of hangings that need to take place, lots.

 

knukles's picture

Hell of a "Recovery"
Oh, this is not going well, is it?

SgtSchultz's picture

It's going to get worse before it gets better.

WestVillageIdiot's picture

It's going to get worse, before it gets worse.

Escrava Isaura's picture

Not quite right.

It's going to get worse (for about 80%), before it gets worse (for 100%).

 

LetThemEatRand's picture

There's a valid point in here, but it's hard to get to when you include 15 year old kids in the statistics.   21 and over would be a much more meaningful stat to look at.  

cbxer55's picture

That is kind of odd, isn't it? What, do kids move out from home at 15 in other countries? Highly doubt that.

nmewn's picture

Almost like calling 18-21yr olds..."kids"...in gun death statistics huh? ;-)

LetThemEatRand's picture

Exactly like that.   You can't help but conclude that someone set out to make a point, and skewed the statistics in order to make it.  I know that it's not true, but for all we know from the study 90% of the people included in the numbers in this article are between the ages of 15 and 21, which would tell us literally nothing about the state of the global economy. 

nmewn's picture

I can tell you people are more and more dependent on .gov (central planning etc) instead of themselves.

You know what I miss most...lounge lizards...they took themselves too serious as well ;-)

Escrava Isaura's picture

nmewn more and more dependent on .gov (central planning etc) instead of themselves.

I can tell you with 100% certainty that, you like it or not, the entire US economy, and Americans lifestyle would not exist at this level if wasn’t for central planning.

Give you two examples: Trump Organization and Clinton Foundation

If wasn’t for the Fed in 2008 saving the global economy, the world would be in a war and major famine by now. Trump and Clinton would not be worth shit.

https://en.wikipedia.org/wiki/Bankruptcy_of_Lehman_Brothers#Impact_of_bankruptcy_filing

 

 

Bollixed's picture

Those bankrupt investment banks could have easily gone under and the assets realigned with reality without the collapse of society. I think your premise is flawed. Stop reading the Washington Post and stop watching the boob-tube.

Escrava Isaura's picture

Well,  don’t have a TV and cable since 2006. Don’t read newspapers and I was never fun of the Post.

Now, on the Fed intervention I’ll say this: Once the Fed intervention ends, I believe with every fiber of my being that you “we” will experience poverty in America in a scale that words could even begin to explain.

 

And once at it, I also believe that humanity is, pretty much, two generations before extinction post financial collapse. And my reasons are simple: We won’t be able to overcome the end of energy that’s critical for food production and access to water. Then, diseases will follow and we won’t have the medication either.

 

My advice: Enjoy these moments as much as you can. Between 2027/2032 will be midnight, if not before.

 

Bollixed's picture

I agree with most of that except I don't see an extinction scenario but rather a reset to pre big-ag population. In other words, if you can't grow it you're not eating. But I live in farm country so I'm surrounded by talented people who grow stuff, myself included. However, when that big combine shows up on my family's farm to harvest the crops I understand the energy consumption and the ramifications when fuel becomes scarce. My parents grew up during the depression and I was born when Harry Truman ran the show so I heard a lot about the depression growing up. Truth be told humans don't need 90% of the shit they think the need, they just aren't aware of how much that stuff steals from their lives. If you go to YouTube and watch the Edwardian Farm series it will give you a good idea of what life has the possibility of becoming. Actually, it's not that bad. Everybody has a purpose unlike today.

And I certainly agree your 2027/2032 timeline is plausible. The caveat being nuclear war bringing the demise early.

nmewn's picture

Nothing was "saved", nothing has "changed", the ponzi remains, propped up by your labor and a "promise" by them that it will never happen again AND a mountain of unpaid debt that will never be paid back by burger flippers or you.

And especially me.

They don't own me and I owe them or you nothing.

RichardParker's picture

the Fed in 2008 saving the global economy...

Escrava:

All they did was extend and pretend (while enriching the elites). 

The longer they do this, the worse it will be for the plebes.  They're going to reach a point where they'll no longer be be able to defy math and physics.  The question is not if but when.

 

 

 

Escrava Isaura's picture

Until the tipping point about 20% of the population  will be doing very well. Pass that, nothing will matter.

A nuclear war would be a tipping point. My 2027/3032 tipping point refers to when about 80% of crude oil is gone.

Now, if you read Bolixed post above, it seems that Bolixed is doing everything right, however, he won’t be able to overcome the massive human failure and hoarders of people in desperation around him.

Then, even if we don’t have a nuclear war after the collapse of the industrial age, collapse of capitalism, collapse of commerce, collapse of laws and governments, and social collapse the current nuclear waste will kill, pretty much, every species.

In other words, no one can prepare for these but for some tribe in Paraguay and /central Africa. I used these locations because the wind patterns and, in the Paraguay case, its forest.

So, if Bolixed would have been in Paraguay, he might be able to pull through it, but would that “stress” of constantly need for survival be worth?

 

cbxer55's picture

Are they any different than Lot Lizards? ;-)

Gold Eyed Cat's picture

My niece got her first job at 15. My husband worked in a BMX bike shop when he was 13.  (I didn't do anything but babysit and offer after school tutoring until college. Some kids do have jobs and would not be considered NEETS on this chart.

I remember when my sister told me the niece got a job to start saving for a car.  I was not so sure it was the right move.  My sis replied, Anakin Skywalker had a job when he was three!  She's funny, my sister.  But anyway, she was totally right.  The kid is now about to turn 17, still works at the same place, and helped pay for some of her car so she treats it very well.  And considering my sister and I destroyed 5 cars between the two of us before we finished college, I'm pretty impressed.

 

NoPension's picture

What the hell is an " inactive neet"?

Yes, I read...well skimmed the article.

LetThemEatRand's picture

They are the people who are not in employment, education or training, but who are inactive as opposed to unemployed.  Make sense now?  Not to me either.

RaceToTheBottom's picture

Wonder if it includes those incarcerated?  

That could really affect white trailer trash and white enabled black families...

 

Unless incarcerated counts as a training program?

cowdiddly's picture

Thank you Alan Greenspan may we have another?

cbxer55's picture

My ex-wife has a brother who is my age, 55. He has never left the roost, been there his entire life, still sleeps in the same bedroom he was born into. There is also a younger brother, late 40,s living in the same house ten years now. Both parents are retired.

Ain't that a sweet gig?

SgtSchultz's picture

Mansion with separate wings or trailer with bunk beds?

cbxer55's picture

1000 square foot three bedroom house the parents have owned all their adult lives. Practically a trailer I can assure you. Matter-of-fact, some trailers are bigger. LOL  ;-)

hardmedicine's picture

I know a few of those myself.  They just never moved on.  Spend their days watching tv and hanging out in the backyard smoking.  Or puttering around in the garage...... just have sub zero ambition and seem to like it that way

 

cbxer55's picture

Well, the 55 year old has all the newest huntin and fishin gadgets, spends all his time either there, or at the golf course. And whackin balls into the woods from his parents back yard. Such fun.

skunzie's picture

They'll continue living off the 'rents until they die, then won't be able to pay the taxes on the property because they've never held a job, and then out on their asses they'll go.  Damnit, life just aint fair!

Dragon HAwk's picture

Hint Guys... staring at your  Phone is NOT going to get you a good Job, or teach you any  saleable skills

  hopefully the parents are at least teaching them some economics by charging them their share of the Bills

WestVillageIdiot's picture

Holy shit.  Have you met the parents?  Somebody would need to teach those morons basic economics.  Plus, look around you.  Just look at the older crowd and how hooked they are on their phones.  They are just as brain dead as the millennials. 

Hitlery_4_Dictator's picture

Come now, sweet putin. Come quickly. 

cherokeepilot's picture

My wife is 71 and has her face looking at that fucking phone 24/7.  I only look at my phone to see who might be calling, but hell, I'm 77.

RaceToTheBottom's picture

Sounds like they need reparations....