From Living At Home To Forgetting About Kids: Visualizing The Economic Realities Of Young Adults In America With nearly 40% of young adults in California living with their parents and a $1.6 trillion student debt crisis taking more than just a little bite out of disposable income (and any hope of saving for many), economist Gary Kimbrough of the University of North Carolina at Greensboro has https://twitter.com/graykimbrough/status/1096868811591032832!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+"://platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); a ton of interesting data to answer the question: "What are the economic realities for young adults, and how have they changed from prior decades?" While much of Kimbrough's analysis was done in February, he's revisited his work ahead of a January presentation on the topic of young adults living at home. Living at home Household formation is way down for 20-34 year olds. In 1960 and 1970, over 70% of men and women age 20-34 (excluding those in group quarters) were heads of household/householders or spouses of householders. In 2017, this was down to 52% of women and 43% of men age 20-34. pic.twitter.com/5RPt43SVl7 — Gray 'serial millennial myth debunker' Kimbrough (@graykimbrough) https://twitter.com/graykimbrough/status/1170399399907856384?ref_src=twsrc%5Etfw!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+"://platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); What's more, when broken down by categories "living with parents, household head or spouse of household head, living in group quarters (mostly prisons for these ages), and other arrangements like cohabiting and living with roommates," it's startling to watch how young adults have been living at home vs. starting their own families over time. Another suggestion, from https://twitter.com/DParrish?ref_src=twsrc%5Etfw!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+"://platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs");: maps of the state-level rates of living with parents for 20-34 year olds, by gender. pic.twitter.com/nN5HuFx0A9 — Gray 'serial millennial myth debunker' Kimbrough (@graykimbrough) https://twitter.com/graykimbrough/status/1171850168645369856?ref_src=twsrc%5Etfw!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+"://platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); Job switching When it comes to "job hopping" - young adults are largely staying put - and "aren't even switching jobs at anything close to the levels of those in their age groups before 2001" according to Kimbrough. Let's be clear: millennials are not "job hopping." Young adults aren't even switching jobs at anything close to the levels of those in their age groups before 2001. pic.twitter.com/YyteHquu6K — Gray 'serial millennial myth debunker' Kimbrough (@graykimbrough) https://twitter.com/graykimbrough/status/1089347497569513472?ref_src=twsrc%5Etfw!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+"://platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); Everyone has a degree "In 1992, middle-aged men were significantly more likely to have a bachelor's degree than women or younger men. Now members of every group age 25-34 are more likely to have degrees than those men were," writes Kimbrough, adding "Women's college degree rates have shot up significantly more than men's." In 1992, middle-aged men were significantly more likely to have a bachelor's degree than women or younger men. Now members of every group age 25-34 are more likely to have degrees than those men were. Women's college degree rates have shot up significantly more than men's. pic.twitter.com/WpcDaAxcPi — Gray 'serial millennial myth debunker' Kimbrough (@graykimbrough) https://twitter.com/graykimbrough/status/1094320338983362561?ref_src=twsrc%5Etfw!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+"://platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); Men at (part time) work Since the Great Recession, Kimbrough noticed that "the propensity to work part time is about the same for women as pre-recession, but is up quite a bit for men under 35. Men 25-29 are still more likely to work PT than any time pre-2009." While examining economic realities for young adults since the Great Recession, I noticed: the propensity to work part time is about the same for women as pre-recession, but is up quite a bit for men under 35. Men 25-29 are still more likely to work PT than any time pre-2009. pic.twitter.com/VDD56DkF21 — Gray 'serial millennial myth debunker' Kimbrough (@graykimbrough) https://twitter.com/graykimbrough/status/1094300322644852737?ref_src=twsrc%5Etfw!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+"://platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); Working women are up, marriages are down As more women have chosen careers over homemaking, Kimbrough provides an illustration of prime-age employment as a percentage of population, by gender. What's more, young adult marriages have declined markedly over the last decade, continuing a trend which began mid-century. With decennial Census and ACS data, I can examine marriage rates by age and gender over an even longer period. Young adult marriage rates have declined over the last decade, but they've been declining since mid-century. https://t.co/OZF2u3smnn — Gray 'serial millennial myth debunker' Kimbrough (@graykimbrough) https://twitter.com/graykimbrough/status/1096874109139595264?ref_src=twsrc%5Etfw!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+"://platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); Gaming overtakes TV time While not an "economic reality" per-se, it's interesting to note that young men have been swapping TV-watching time for gaming. Just looking at time spent watching TV/movies/streaming video, young adults are watching less while older adults are watching considerably more. https://t.co/v9sD2N9M9x — Gray 'serial millennial myth debunker' Kimbrough (@graykimbrough) https://twitter.com/graykimbrough/status/1096875323105386504?ref_src=twsrc%5Etfw!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+"://platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); Of note, and unsurprisingly - young men living at home constitute the bulk of gamers watching less TV. This is particularly interesting because, circling back to that increase in gaming time, for young adult men the increase in gaming is concentrated among those living with parents. pic.twitter.com/4mUwfAvSEH — Gray 'serial millennial myth debunker' Kimbrough (@graykimbrough) https://twitter.com/graykimbrough/status/1096880273499799552?ref_src=twsrc%5Etfw!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+"://platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); Owned by rent Using Census/ACS data, Kimbrough shows how young adults are "significantly more likely to live in rental housing than in prior decades." Using the CPS ASEC, I can examine four decades of yearly data on living in an owned/mortgaged home by age group. pic.twitter.com/BxhxnySHSZ — Gray 'serial millennial myth debunker' Kimbrough (@graykimbrough) https://twitter.com/graykimbrough/status/1096884365945114625?ref_src=twsrc%5Etfw!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+"://platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); What about the children? Also unsurprising, with lower marriage rates and higher female employment, women in their 20s are "significantly less likely to have a child than a decade ago," while those over the age of 32 are slightly more likely to have a kid. Given the economic realities young adults have faced and the delays in marriage and homeownership we've seen, it should come as little surprise that women in their 20s are significantly less likely to have children in recent years than a decade or so ago. https://t.co/EQyKsBlxjx — Gray 'serial millennial myth debunker' Kimbrough (@graykimbrough) https://twitter.com/graykimbrough/status/1096884995543715840?ref_src=twsrc%5Etfw!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+"://platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); In short: Looking at five decades of prime age adults in the CPS ASEC: 1) Rates of women working increased until about 20 years ago, then stagnated 2) Men's working rates declined until about a decade ago, then stagnated 3) Parents (of children under 18) became older and less common pic.twitter.com/vRbTYPKOUg — Gray 'serial millennial myth debunker' Kimbrough (@graykimbrough) https://twitter.com/graykimbrough/status/1099310618518138880?ref_src=twsrc%5Etfw!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+"://platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); Tyler Durden Sat, 09/14/2019 - 18:50