Adult children move back home in tough economy

Reuters – 1 hr 55 mins ago

WASHINGTON (Reuters) – More adult children moved in with their parents amid the recent tough economic times in the United States, according to a U.S. Census Bureau report released on Wednesday.

The number of adult children living with parents increased 1.2 million to 15.8 million between 2007 and 2010, the Census Bureau said. Those ages 25 to 34 accounted for two thirds of the 823,000 increase in adult children living with parents during that period, according to the report.

The 2007-09 recession, the longest and deepest since the Great Depression of the 1930s, decimated household wealth and erased 8.8 million jobs. U.S. unemployment has been stuck above 8 percent since February 2009.

The report found that 30.1 percent of Americans age 18 and above lived in 2010 in a shared household – with family members or with unrelated roommates. That was up from 27.7 percent just before the recession started in 2007.

“Although reasons for household sharing are not discernible from the survey, our analysis suggests that adults and families coped with challenging economic circumstances over the course of the recession by joining households or combining households with other individuals or families,” said Laryssa Mykyta, an analyst in the Census Bureau’s Poverty Statistics Branch.

The Census survey found that shared households increased 11.4 percent to 22 million in 2010 from 2007. Shared households accounted for 18.7 percent of all U.S. households in 2010, up from 17 percent in 2007, the report stated. (Reporting by Lucia Mutikani; Editing by Will Dunham)

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  1. This detail of an image taken from microfilm and provided by Ancestry.com shows a section of a page from the 1940 U.S. Census with an entry for George H. Ruth, fifth from top. George H. “Babe” Ruth is one of many notable New Yorkers who will be searchable online by name when the 1915 and 1925 New York States censuses and the 1940 U.S. Census become searchable by family name at midnight, June 5, 2012. (AP Photo/Ancestry.com)

    This detail of an image taken from microfilm …

    Associated Press

  2. Census Bureau Report Shows Shared Households …

    WASHINGTON, June 20, 2012 /PRNewswire-USNewswire/ — In 2010, there were 22.0 &#8230 Full Story »Census Bureau Report Shows Shared Households Increased 11.4 Percent from 2007 to 2010

    PR Newswire

  3. Falling house, stock prices erode household …

    WASHINGTON (Reuters) – Households saw their wealth decline by more than a &#8230 Full Story »Falling house, stock prices erode household wealth

    Reuters

  4. CORRECTS THAT DATA IS FROM THE 1940 U.S. CENSUS INSTEAD OF THE 1915 AND 1945 NEW YORK CENSUSES - In this April 6, 2012 photo provided by Ancestry.com, clerical workers in Dongguan, China decipher English script on handwritten census forms so that the data from the 1940 U.S. Census can be entered and searchable online. After midnight Wednesday, June 6, 2012, Americans will be able to plug family names into an online 1940 U.S. census and come up with details about the lives of New Yorkers — from Joe DiMaggio and Jacqueline Bouvier Kennedy to their own relatives. (AP Photo/Ancestry.com, Todd Jensen)

    CORRECTS THAT DATA IS FROM THE 1940 …

    Associated Press

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