Thursday, 15 March 2012

Goodbye jobs, hello mom and dad, say young adults

Faced with limited job options, many young adults are turning to an old standby to weather the recession: moving back in with mom and dad.

Nearly 1 in 7 parents with grown children say they had a "boomerang kid" move back home in the past year, according to a study released Tuesday by the Pew Research Center. In a turnabout in the rite of passage in which a college graduate finds a job and an apartment, many are returning to their parents' empty nests because of tight finances or as they pursue an advanced degree.

"The journey home for Thanksgiving won't be quite so far this year for many adults," said researchers Wendy Wang and Rich Morin, …

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