Goodbye, empty nest: Millennials staying longer with parents
WASHINGTON (AP) - Many of America's young adults appear to be in no hurry to move out of their old bedrooms.
For the first time on record, living with parents is now the most common arrangement for people ages 18 to 34. That's according to an analysis of census data by the Pew Research Center.
Nearly one-third of millennials live with their parents. That's slightly more than the proportion who live with a spouse or partner. The remaining young adults are living alone or in college dorms or other circumstances.
The trend has been particularly evident among Americans who lack a college degree.
The pattern may be a contributing factor in the sluggish growth of the U.S. economy, which depends heavily on consumer spending. With more young people living with their parents rather than on their own, fewer people need to buy appliances, furniture or cable subscriptions.
The recovery from the recession has also been hobbled by historically low levels of home construction and home ownership.
As recently as 2000, nearly 43 percent of young adults ages 18 to 34 were married or living with a partner. By 2014, that proportion was just 31.6 percent.