The economy and job market may be on the upswing, but a new Pew poll shows Millennials are staying put, opting to go the path of dependence not independence and stay at home with mom and dad.
The Pew Research Center's look at U.S. Census Bureau data found the share of young adults between the ages of 18 and 34 living in their parents' homes jumped in the first quarter of 2015 to 26 percent, up from 24 percent in 2010. That's despite the face the unemployment rate for those in that same age range dropped from 12.4 percent in 2010 to 7.7 percent this year, Biz Journal reported.
In other words: Millennials are finding employment, but not their own homes. Pew finds the number of young adults living independently has fallen from 42.7 million in 2007 to 42.2 million today.
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And some market watchers are suggesting this Millennial trend is having a negative impact on the entire U.S. economy.
"The growing young adult population has not fueled demand for housing units and the furnishings, telecom and cable installations, and other ancillary purchases that accompany newly formed households," Pew reported.
One more finding of the poll: Millennial women are far more likely to move away from their parents before millennial men do.
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