Labor Market Conundrum: Number Of Millennials Living At Home With Mom Continues To Surge

Tyler Durden's picture

Nary a day goes by that President Trump and/or the talking heads on CNBC fail to mention the following unemployment chart as evidence that "everything is awesome" with the U.S. economy...

Unemployment

...which might be true unless you're among the 95 million-ish Americans who have been looking for a job for so long that you no longer even count as a human being to the Bureau of Labor Statistics...

...or if you're a millennial.

Despite being the most educated generation ever to walk the face of the
planet, at least according to their tuition bills paid by mom and dad, a
staggering number of millennials still can't seem to land a steady job.  Moreover, despite the steadily improving labor market, as the USA Today points out, the outlook for millennials continues to inexplicably deteriorate with 20% of 26-34 year olds currently living at home with mom versus only 17% back in 2012.

The share of older Millennials living with relatives is still rising, underscoring the lingering obstacles faced by Americans who entered the workforce during and after the Great Recession.

 

About 20% of adults age 26 to 34 are living with parents or other family members, a figure that has climbed steadily the past decade and is up from 17% in 2012, according to an analysis of Census Bureau data by Trulia, a real estate research firm. The increase defies record job openings and a 4.1% unemployment rate, the lowest in 17 years.

 

Not surprisingly, a much larger portion of younger Millennials age 18 to 25 (59.8%) live with relatives, but that figure generally has fallen the past few years after peaking at 61.1% in 2012.

So why does the professional development of millennials continue to diverge from other generations?  While one can never be sure, perhaps the answer to that question lies in the personal experience of young Heidi Toth who decided to quit her job, after gaining just two years of experience, to join a church mission for nearly two years.  Then, after returning to work from her travels, Toth quit again in 2013 after a "series of layoffs modified her duties"...which we assume roughly translates to..."a bunch of people got fired which meant I had to work harder so I quit."

After graduating from Texas Tech University with a journalism major in 2005, Heidi Toth, now 35, got a job quickly at a Provo, Utah, newspaper. But in early 2007, she went on an 18-month church mission, landing her back in the job market in the depths of the recession in 2008. Unable to find work, she moved in with her mother in Roswell, New Mexico, for nine months while she hunted for work and took part-time, low-paying jobs.

 

She was rehired at the Provo paper in spring 2009 but left again in 2013 after a series of layoffs modified her duties. After months of fruitless job searching and traveling, she returned to her mother’s house for three months until she was hired at a Lubbock, Texas, paper.

 

Toth was grateful she could live rent-free during her periods of unemployment. But, she adds, “It wasn’t ideal, professionally or personally.”

 

Prospective employers in larger, distant cities didn’t think she would be readily available for interviews. And at home, “I felt like I was back in high school,” she says. “I felt like I had to ask permission to go out.”

Meanwhile, as the Pew Research Center recently noted, even the Millenials that manage to hold a job and establish their own residence aren't much better off as they now head more households living below the poverty line than any other generation and, in aggregate, represent nearly one-third of all impoverished households in the United States. 

More Millennial households are in poverty than households headed by any other generation. In 2016, an estimated 5.3 million of the nearly 17 million U.S. households living in poverty were headed by a Millennial, compared with 4.2 million headed by a Gen Xer and 5.0 million headed by a Baby Boomer. The relatively high number of Millennial households in poverty partly reflects the fact that the poverty rate among households headed by a young adult has been rising over the past half century while dramatically declining among households headed by those 65 and older.

 

Of course, that's all despite the fact that they only head just over 20% of all households...

Millennials are the largest living generation by population size (79.8 million in 2016), but they trail Baby Boomers and Generation Xers when it comes to the number of households they head. Many Millennials still live under their parents’ roof or are in a college dorm or some other shared living situation. As of 2016, Millennials (ages 18 to 35 in 2016) headed only 28 million households, many fewer than were headed by Generation X (ages 36 to 51 in 2016) or Baby Boomers (ages 52 to 70).

 

Of course, those aren't the only stats that prove just how much those anthropology degrees are paying off...Millennials are also winning at the 'cohabiting-couple' game...presumably because it takes a village of millennials to cover one monthly rent bill.

Conclusion:

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Clock Crasher's picture

Make America Poor Again

Northern Lights's picture

I have no idea who Faye Brookes is. I haven't seen any of those tv shows or movies she's apparently been in.
To me, she's just another pornhub amateur porn slut.

knukles's picture

You promised me they'd let me out of the basement if I wore your old cheer leader outfit.

True Blue's picture

"It rubs the lotion on its skin or it gets the hose again."

swmnguy's picture

Anybody who lets themselves be photographed or filmed having sex is a fool.  You'd think people would know this by now.  Unless you're trying to catch a very low-grade break, that is.

It was about 30 seconds after Rose McGowan went public about Harvey Weinstein that you were on here, "God Emperor," linking to her nudie pix.  

Did Faye Brookes, whoever she is, call somebody out recently?

As if her personal sexual preferences had anything to do with sexual misconduct in the first place.  The issue, of course, is consent.  If there's consent, there's no issue.  We shouldn't tolerate situations that pressure, allow, or accept anyone to sleep their way to the top, but that's not the point of the current hubbub.  Apparently a lot of completely outrageous conduct that everyone has always known was wrong has been going on, and it's time for that to stop.  When was it considered OK in a business setting to masturbate in front of a woman?

So I'm hoping Faye Brookes is looking to make it in porn.  Otherwise, she trusted somebody she shouldn't have, that's for sure.

ParticularlyStupidHumanoid's picture

In 10 years nobody will care about that anymore.

Archibald Buttle's picture

montgomery burns: or will they? (steeples fingers)

Moe Howard's picture

She looked pretty happy gobbling that salami. Didn't look like anyone was pressuring her.

ColorMehJewish's picture

It prolly has something to do w/ so many having degrees or not, not being able to even find work too. (and the fact that society isnt fixing the probs -- hiring and training/working w/ college grads, trying to put them on the right path/give them a shot to prove themselves, not pay enough if anything, when they do -- so people cannot take an free internship just to learn)

I know quite a few people (including myself) who have had RIDICULOUS trouble trying to find work (that can also allow paying for apartment, crazy student loans and living costs-- and I don't even go out or really have a "life"). The jobs are not out there. And I am not even someone who is picky. Earned my BSIT and in masters for IT currently. I am barely paying for my utilities and apartment currently. My loans are never going to get paid at the rate of working locally in grocery stores.

 

The system has been unbalanced for too long. And an entire generational gap gets a bad rap, b/c of morons televised who perpetuate the stereotype.

Ive always considered myself in the Gen X, but recently looking up the dates, 1984= millen year. Sooo... Idk. Guess I am one too.

But I do not live in a basement. I just cant get my head above water. Most in the basements don't care about getting above water (and usually have little to no repsonsibility to consider). Still sucks being in that group, and unable to go anywhere. I wasnt one of those idiots going to school for "gender studies". Got one mark on my record, n that surely dont help either. Follows you for life regardless of what you do. Getting older and trying to progress in today's world just blows.

sun tzu's picture

There's only so much market demand for social justice warrior degrees. You can become a nutty perfessor, hired Soros goon, or make lattes.

Moe Howard's picture

No offense, but if you have a BS and a Masters in IT and can't find work in that field, it speaks to your experience / skills rather than the job market IMHO.

Perhaps you are just not suited to work in that field?

 

 

canisdirus's picture

It doesn't mean much. Employers want H-1Bs and people with experience. You haven't been able to find anywhere to give you experience with none since the late-90s unless you have an Ivy League sheepskin. In the last few years I have hired a couple completely green millennial software developers against the advice of numerous people Both had been underemployed and unable to find work in the field for years prior to my meeting them and both worked out great. They're a small subset of my great luck with hiring inexperienced millennials in tech, and considering the low competition for them, I've always been able to take the cream of the crop.

The hard part is that so many have been completely demoralized by the situation, their skills have eroded, and/or nobody will give them a chance.

serotonindumptruck's picture

My limited exposure to the Millenial generation tells me that at least half of them hold Baby Boomers (grandparents) and Generation X'ers (parents) to be 100% responsible for the current economic malaise.

The only millenials who have no complaint are those who still live at home playing their video games while their parents and grandparents sit on their asses all day while drawing six figure incomes from their cushy, do nothing federal government jobs.

totenkopf88's picture

Millenials aka The Cuck-est Generation- cheering on the demise of their own race with their liberal BS. 

Atomizer's picture

Yes, my biological child runs his own company. Mrs Atomizer two kids live debt free in a house we own  and don't make a effort to get off the dole. Have a four year Computer degree. 

Don,

 

Tried reaching back out to John this morning on the 330 number he called on. One of your voicemails is not accurate…John has reached out, but Steven has not. If Steven has reached out it was not to me.

 

You can feel free to reach out to any one of the other 4 recruiters in my office, however, I doubt the 2 insurance and 2 biotech recruiters will be of any help you.

I need everyone involved to realize one thing, I am getting their resumes in front of people to help you guys out. Because of their career level even if they get hired I personally will not receive anything in return for my efforts from these companies. They may be great people, but they both are entry level employees at best and will need to work their way up somewhere.

 

I have a wife I need to take care of and my first kid on the way so I have to focus most of my attention on earning an income. I am send your two kids resumes to people I know, but that does not mean it is guaranteed that someone will hire them. Also reaching out to me is one thing, but if you and your wife are calling companies on behalf of your children it will not make them look good. If they want to start a career they need to be serious and be the ones making an effort.

 

John called me once three days ago, Steven has not called at all. You have called me more than both of them combined in the past couple of days. If they had your attitude and put in that effort that you have I bet you they would both have jobs already.

 

My colleague in Oregon shot their resumes to a couple of his colleagues. If those individuals like either resume they are going to reach out to John and Steve directly not to me, so they need to pay attention to any calls coming in.

 

NoPension's picture

Reading that made me want to " reach out " and punch something in the face. Either your stepsons, or that asshat recruiter. Fucking recruiter.
Fucking " Human Resources ". I guess now we are just equal to electricity or the highway outside.

Atomizer's picture

It's the kids, I see there phone records. Comfy home, car, car insurance, utilities paid, phone and Internet access, Credit card to buy shit. No job. Give them another 9 months with a 3 month advance notice. Throw them into street. That's how you motivate them. 

HRH of Aquitaine 2.0's picture

Are you kidding me?

I got the boot at 15. I am doing fine, FYI. Homeowner, business owner, BA degree.

serotonindumptruck's picture

Absolutely.

Perhaps I'm over-generalizing, but it would seem as if the Millenials who manage to obtain a college degree expect a $200,000 a year entry-level salary for sitting in front of a computer monitor all day.

The exaggerated perception of self-worth is driving society to ruin.

Old people (those over the age of 40) will soon be on the endangered species list.

pitz's picture

If housing costs $1M, is $200k unreasonable??

ItsSnowingInColorado's picture

550,000 will get you a roomy 264 feet. I wonder why millenials in LA cant afford housing... 

https://www.zillow.com/homedetails/10449-Scenario-Ln-Los-Angeles-CA-9007...

canisdirus's picture

We should be seeking $350-400k if we want to live like our parents could in 1980. Just take the price of an average livable house (discount all teardowns and full gut rehabs) and divide by 3 for a reasonable starting salary for an average worker. Divide by 2 for an educated one in an in-demand field. Divide by 1-1.5 for someone with a decade or more of experience in one of those fields.

Oh, right, those wage levels don't exist anywhere.

Atomizer's picture

I have two lazy non DNA motherfuckers. One is 25, doesn't have his driver's license. His brother drives him around. Everytime I push, fucking lies based on Sprint phone records.

HRH of Aquitaine 2.0's picture

I feel your pain. My sister has coddled my niece and nephew for years. They are both in their late 20s, now and my niece has 2 children, by one man. Are they married? No idea. They finally moved in together last year.

Weirdest fucking relationships I have encountered. My sister drove to her ex's house to make breakfast for my 20-something nephew. I said that I thought that was weird and she informed me that I needed to keep my opinions to myself. No problem, sis!

My niece is basically clueless. Pretty girl. Has two kids. But clueless. Apparently my sister takes her grocery shopping because my niece has no car and her husband / baby daddy / boyfriend is working all the time as a cook.

I am single, far away from them, and fairly happy.

Chicken-fried steak for dinner tonight! YUMMY! Yes I am making the gravy, too. Over egg noodles. Probably make a side of lemon-and-garlic green beans. Dinner in one hour.

vealparm's picture

HRH........noodles? Chicken fried steak must have mashed potatoes.

sodbuster's picture

Atomizer- have a friend who is an anesthetist. Said when he goes home it's like a bird's nest- all of the worthless one's sitting there with their mouths open. Just have to shake the tree til the nest falls out, I guess. I have 2 kids- son is a chemical engineer, daughter is a chemist. They both married a spouse as equally smart and degreed. They all make more than I ever will. I am very happy. Their partners are great. My wife is wonderful. I am one rich SOB!! Millennials in general are the worst f'n generation this country has ever produced. I blame it on the parents, public education, and colleges staffed by communists.

ExplodingEntropy's picture

"My wife is wonderful. I am one rich SOB!! Millennials in general are the worst f'n generation this country has ever produced. I blame it on the parents, public education, and colleges staffed by communists." -a true American

 

loled the shit out of me. The transition there, mind boggling. Took me on a bitcoin rollercoster ride of emotions.

swmnguy's picture

For a second I thought he was saying his kids are in some sort of menage a trois.

At any rate, he's a better parent than his anesthetist friend, apparently.  Better husband, too, by the sound of it.

Archibald Buttle's picture

this seems as good as any place to jump in and point this out: the millenials, as a group, are an experiment. they had digital everything from an early age. they are not, as advertising lingo would describe them, new adopters. they are habitual from childhood adopters.

so according to a chart above, there are 5+M of these "worthless" millenials. and yet, as an early gen-xer, whose grandparents (and i got a bonus of 6 grandparents thanks to viet nam /s) were all part of the "silent/great" generation with not a one of them still alive, and there 2 fucking million of them living in poverty? 2 million out of how many? there cant be a shitload of them left, if we constantly hear about the last surviving WWII vet every other day. 

two million really old people living in poverty. the next generation, the one in the on deck circle, complacently asleep at the wheel for the most part, save the few that will suceed, pretty much in the same boat.

yep, we're fucked.

 

oh yeah, happy thanksgiving, bitchez.

Thethingreenline's picture

Use his IPhone to track him!

Ohhhhh the irony!

TTGL

NoPension's picture

Want to be sickened ?
I'm doing a job across the highway from Ft. Meade, Maryland. Home of our beloved NSA. Nearly 30,000 fucks a day go to work there, or one of the many Military Industrial Parasites that have popped up all around...like fleas on a dog.
From 2:30 on...it's non stop gridlock...and some nice rides, too.

Producing Fucking Nothing.

Edit...Protecting The Homeland. Hahahahahahaha...cough.....hahahahahahaha...

in__cognito's picture

that's probably because millenials and generation x'ers are 100% responsible for the current economic malaise.

swmnguy's picture

Well, there's that, isn't there.

All this generational crap is bullshit.  It goes back to ancient times.  It wasn't new when the Romans bitched about the young, or when Plato did in Athens.  Hilarious how parents condemn themselves in bitching about their kids.

It never seems to occur to "the older generation" that "kids these days" are dealing with the environment for people their age, in the present.  It would be absurd for my son to try to do what worked for me 30 years ago.  It's today, not 30 years ago.

It wasn't "Millennials" who made a 4-year degree a requirement for a freaking receptionist job.  It wasn't Millennials who turned Higher Education over the Finance, which jacked up the cost and torpedoed the quality, as has happened to every other thing in America subsumed by Finance.

Why are Millennials living in poverty, or their parents' basement?  Why aren't they getting married or buying houses?  Why aren't they getting jobs, sticking with them, and clawing their way up to middle management?  Must be because they're lazy, entitled, spoiled, lack backbone and values.

Or maybe it could be because America's economy has been falling apart for a generation and they're making very rational decisions in the context they face.

Yeah, their clothes, music, hair, slang and trends are atrocious and excruciating.  My parents weren't much into the Sex Pistols, themselves.

But I have a 20 year-old and a 17 year-old.  They and their friends are (mostly) very prudent about money.  They've stayed out of trouble.  They're not in debt except for college loans.  They want to live on their own, and the older one does.  They work and go to school.  They don't expect anything to be handed to them; they've learned not to expect to get what they've been promised or paid for, even.  A good awareness to have as Empire falls apart.

Things were not better "in my day."  We were not better "in my day."  Just different, and in different circumstances.

Moe Howard's picture

My parents thought a Sex Pistol was a marital aid, not a band.

Keystone's picture

It seems each successive generation has been dealt a progressively worse hand.  I have a hard time faulting people for saying "This is shit.  I'm not playing this rotten, corrupt game".

swmnguy's picture

I agree.  But it's not a linear progression.  Otherwise just think how utterly fabulous it must have been in 4th Century BC Athens.

People come into the world as it is, do what they have to do to get by, and in the process change the world.  Nothing new about that.  It's not just normal, it's good.  Naturally those who had gotten used to the world as it was are discomforted by change, but that too is normal and good.

Over the past 60 years or so each successive generation in the US has been dealt a progressively worse hand; that's indisputable.  That's just the progression of Empire, however.  And in our specific case, the disintegration of our finance system due to its internal contradictions (you can't run an economy using debt at interest as money on a finite planet without things getting weird).

So there's even more incentive for each generation of youngsters entering adulthood to reject the status quo, recently, in America.  And yest, that too is normal and good.

ElTerco's picture

Make no mistake, the "economic decline" started in 1983, though on the surface it looked like prosperity. I agree with you that the "cultural decline" probably started around 20 years earlier than that.

LazyDrone's picture

Baby Boomers are the Parents of Millenials.  Not Gen X'ers.

canisdirus's picture

Mostly true. Early Millennials are the children of Boomers, late ones (1990+) are mostly the children of Gen-X. Curiously, I've had the best luck with Millennials that have older parents (early Boomers, 1955 or earlier). Exceptions exist, like my wife (her parents are contemporaries of my parents, all late Boomers, even though I'm a decade older than her), but they're rare. Among those with parents from the age range of mine, we're the only two I know of that have really made it into adulthood. My siblings failed that transition, as did one of her older siblings. Kind of amazing how unlikely success is for our generation.

boattrash's picture

FFS, Somebody has to protect mom from the Russians.

Rex Andrus's picture

Mommy's narcistic little iTrannies aren't up to it.

cornflakesdisease's picture

You mean my masters degree in gay/lesbian dance interputation doesn't pay 6 figures?

serotonindumptruck's picture

A PhD in Women's Studies or Sociology would probably command at least a $25,000 per year income.

swmnguy's picture

That's if you made the mistake of going to college to buy qualifications to get a job.

If you went to learn how to think, gather information, analyze and complete a course of study, and learned how to apply that thought process to everything you do in life, it doesn't matter a whole lot what your major is because you can figure out how to do anything.

I would know because I have done this. I didn't even get the Liberal Arts degree, and it wouldn't have qualified me to do anything but teach.  But I learned how to learn and operate in certain environments.  After a while I realized jobs weren't for me in the first place, so I formed my own company and make, for me, a fine income and nobody has ever asked me, in 30 years, whether or not I have a degree or what it was or would have been in.

swmnguy's picture

Nope.  Turns out I didn't need it.  I learned what I needed to learn and applied it to the opportunities that emerged.  Had I gotten the degree, other opportunities would have appeared, different ones, but looking back, I think I got the better of the deal in the long run.

In 30+ years nobody has ever asked me for a degree.  Of course, I've never gotten a job through an HR process.  And for the past 14 years I've been self-employed, or as I like to put it, "Gainfully UnEmployed."

College is not and never has been supposed to be about buying qualifications for a job.  That's a recent construct, and has been incredibly detrimental to Universities and the general state of Intellectual life in America.  After WWII, between the GI Bill and the Baby Boom, there was a huge spike in demand for a college education.  Colleges wildly overbuilt and over-hired to meet the need.  The number of colleges founded between 1950-1970 is enormous.  Then in the 70s, the demographic bulge had graduated, and colleges faced huge retrenchment and closure.  So they cooked up a scheme with Finance and Business interests, so Business interests would require 4-yr. degrees for almost all jobs, colleges would provide vocational-oriented programs, and the costs of on-the-job training would be shifted from Business to the workers themselves, by way of skyrocketing tuition and fees, funded with loans (so Finance got their bone, too).

That created the notion that students are customers and degrees are commodities, and the customer is always right, or at least must be given what he's paid for.  That's why we have the rise of nonsense user-friendly and trendy degrees in left-handed Lesbian studies, grade inflation, mass social promotion, and the like.  Because 18-22 year-olds are morons and always have been, for biological developmental reasons, and if you let them dictate to Universities, this is what happens.

Point is, for all the people with purposeful degrees exactly tailored to corporate HR specs, top companies are having a harder and harder time finding people who can find, evaluate, sort, analyze and distribute data.  That's what you learn in college, regardless of what degree program you enter.  Once people realize I can do that, they don't want to know about my college career.  They want to know when I can start, and whether or not I'll settle for their offer.

Rex Andrus's picture

The most indoctrinated ffy and that answers your wtf query