February 10, 2012

Hard Economic Times for Young Adults

49%

Just under half (49%) of adults ages 18 to 34 say that because of economic conditions over the past few years, they have taken a job they didn’t want in order to pay the bills.

Many young adults have felt the impact of the recession and the economy’s sluggish recovery in tangible ways. Just under half (49%) of adults ages 18 to 34 say that because of economic conditions over the past few years, they have taken a job they didn’t want in order to pay the bills. More than a third (35%) say they have gone back to school because of the bad economy. And, one-in-four (24%) say they have taken an unpaid job to gain work experience.

For some, tough economic times have impacted their personal life as well. Roughly a quarter of adults ages 18 to 34 say that they have been forced to move back in with their parents in the last few years after living on their own. Among the 25-29 age group, the share who admits to having moved back home rises to 34%. Most adults under the age of 25 are enrolled in school at least part time (46% are full-time students). By 25, most people are out of school. Butjobs and housing can be hard to come by, and many end up “boomeranging” back home.

More than one-in-five adults ages 18 to 34 say they have postponed having a baby because of the bad economy. Roughly the same proportion (20%) say they have postponed getting married. Read More