Millennials Stay Put in Parents’ Homes Even as Wages Increase

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July 30, 2015

The Wall Street Journal reports that Millennial workers with college degrees are “earning close to their prerecession wages.” But for many of them, a job and higher income isn’t reason enough to move to their own place.

Data comes from a new report from the Pew Research Center, which shows that a higher percentage of Millennials – those born 1981 or later – live with their parents than did in 2010. During the past five years, signs of economic recovery post-recession include falling unemployment for the age group, more jobs, and higher wages.

Economist Jed Kolko suggests that declining marriage rates and rising rental costs outpacing wage gains may be the reasons for this trend.

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