Recent Graduates Not Only Move Back Home, But Stay There

[Guest]

Using data from the U.S. Bureau of Labor Statistics, Sum reports that 12.8 million college graduates under the age of 30 are either unemployed, working part-time or working at a job that doesn’t require a college degree.

Such jobs can make it difficult for young people to establish a steady stream of income -- to get the money required to not only move out of their parents' house, but stay out.

Further, Sum finds that young adults without a college degree have been pushed out of the labor market entirely and are finding work at a lower rate than anytime since the end of World War II.

“The kids not working today will have a difficult time working tomorrow,” concludes Sum. “The evidence is overwhelming.”

http://www.huffingtonpost.com/2011/04/22/recent-graduates-moving-home_n_852730.html

[delko]

It also spells VERY bad news for us long term unemployed middle aged people. Because if hiring and jobs ever do come back, these younger folks will be just that much more competition for us getting back into the work place.
That aside, while I do feel for recent graduates, at least in most cases they don't have the Real World responsibilities right now to worry about like a mortgage or rent to pay to keep a roof over their heads.