Monday, August 03, 2015

Fewer Millennials Live Independently

Young adults aged 25 to 34 are less likely to live independently than were their counterparts in 2007, according to an analysis of Current Population Survey data by Pew Research Center. Pew defines independent living as heading one's own household or living in a household headed by a spouse, unmarried partner, or other nonrelative. 

The percentage of 25-to-34-year-olds who live independently is 86 percent among those with a bachelor's degree, 79 percent among those with some college, and 75 percent among those with a high school diploma or less education. Regardless of educational attainment, the figures are lower in 2015 than in 2007. 

Behind the decline in independent living is less money. Median weekly earnings for 25-to-34-year-olds in 2015 are below the 2007 level, after adjusting for inflation...

Median weekly earnings of 25-to-34-year-olds
Bachelor's or more: $951 in 2015, still less than the $966 of 2007.
Some college: $560 in 2015, well below the $640 of 2007.
High school or less: $500 in 2015, below the $527 in 2007.

Source: Pew Research Center, More Millennials Living with Family Despite Improved Job Market

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