Ellen Byron
speaker
86 appearances
2 recordings
1 series
first heard Mar 2019
last heard Dec 2020
Ellen Byron’s voice in public audio — every appearance, attributed to the second.
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Appearances
WSJ Your Money Briefing · Class of 2020: Getting Their Job Search Back on Track · 4 Dec 2020
podcast
Economists are watching this.
Because that delay in a series of life milestones is expected to have a lasting effect.
So some of those life milestones are landing that entry-level job, moving away from home, achieving financial independence.
And also how risk averse will they be?
All of these things could have lasting implications for how they handle their finances, their health, their life path.
And so there's a lot of questions surrounding how this will play out for a generation.
Not since the Great Depression have so many young adults lived with their parents.
In July, 52% of young adults aged 18 to 29 years old lived with one or both of their parents, and that passes the previous peak in 1940, and that's according to data from the Pew Research Center.
That is really accelerating this decades-long trend that the number and share of young adults living with their parents has grown sharply.
But we particularly saw that between February and July.
And that's across all major racial and ethnic groups, men and women, metropolitan and rural residents.
And that's in all four main U.S.
census regions.
So this is across the board, young people are living with their parents.
We saw it play out in a few ways.
I spoke to one graduate who thought he was going to go into finance and he had done the finance internship.
He had been applying for finance jobs.
He had done ambitious work as a finance major and he ended up shifting gears and going and getting a graduate degree in education.
Because of the pandemic happening in his spring term, it really affected the jobs that he was pursuing and applying for.
And then being home and having long conversations with his mom and his brother, who was a high school senior at the time, made him really look at what he wanted out of his path.
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