By Nile Gardiner
By Mike Flynn
WASHINGTON (CBSDC) — A record number of young adults are living with their parents.
A new study from Pew Research finds that 36 percent of Millennials – young adults ages 18 to 31 – are living at their parents’ homes, the highest number in four decades. A record 21.6 million young adults were still living at home last year.
Young Americans Left Out Of Obama's 'Jobs Recovery'
A (New) Lost Generation: As the media focus on a slight drop in unemployment, an ugly trend gets ignored: the declining participation of young Americans in the job market. We'll pay for this for decades to come.
So what are they doing? As a new Pew Research report shows, many are just hanging around their parents' houses; 21.1 million young Americans live with their folks, more than ever.
Over at Power Line blog, Joe Malchow crunched some not-very-pretty numbers on youth labor-force participation. Participation among 18-to-19-year-olds has declined 11.3% since Obama took office. For those ages 20 to 24, it has dropped 3.4%.
These are the biggest declines for any age cohort. And if they aren't bad enough, teen unemployment among blacks is an unbelievable 41%.