Boomerang Generation

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  • Topic: Minimum wage, Pew Research Center, Household
  • Pages : 5 (1497 words )
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  • Published : March 5, 2013
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BOOMERANG
GENERATION
Boomerang Generation: Economical and Psychological Issues
Angelica Guzman
Cal State San Marcos
HD 101-02
BOOMERANG
GENERATION
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The boomerang generation consists of young adults ranging from the ages of 18-34 who temporary move out of their home and experience independence on their own for a time and then “boomerang right back” into their parents home (Pew Research 2012). This generation raises a question whether these young adults move back in and become dependent to their parents due to economic and social issues they face such as not being able to find a job or simply because it is easier and cheaper to live with their parents. According to the Pew Research Center, the economical issues that arise are due to the recession that we previously experienced, and so these young adults were unable to find a job and make ends meet while living on their own. These economical issues can then have a psychological and social effect on them by believing that they are unable to move up in life and degrading themselves by not acquiring a job or starting a family at that age.

The boomerang generation is a widespread phenomenon where 39% of adults ages 18-34 move back in with their parents, and among these young adults 63% say they know someone else who has moved back home because of financial problems they faced while living on their own (Pew Research). We can see that the percentage of the boomerang children living at home correlate to the way the economy stands, the Fiscal Times mentions that ever since the recession 37% of 18-29 year olds have been unemployed and has been the highest since 1948 (Fiscal Times 2011). The unemployment issue causes many of these young adults to move back home with their parents, before, some would be financially stable on their own making ends meet with a job they possessed but then faced the termination of their job and now do not have the resources to financially maintain themselves and have to rely on their parents to financially support them. According to a survey by AARP, 25% of young adults receive financial help from BOOMERANG

GENERATION
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their parents (AARP 2010), since they cannot be independent on their own and seek for parental support.
These boomerang generation consists of young adults who were terminated from their job due to the recession as previously mentioned, but also of young adults who simply need a hand for financial stability from their parents because the job they have does not pay a reasonable salary to move out from the parents home and live independently. Nearly “nine in ten say they don’t currently have enough money to lead the kind of life they want” (Pew Research 2012). Pew Research Center mentions, “almost half of boomerang children say they have paid rent and almost nine in ten have helped with household expenses” (2012) around their parents home which may relieve the parents from financial hardships they might face since they now have a second income that they can rely on. Boomerang children may not be seen as a hassle after all since they contribute to the household by paying some expenses and helping around the house. Students who have graduated are also seen to return back home, 71% of college graduates indicate that they return back home because of money and face hardships in trying to pay off their debt while earning little to nothing salary (Goldfein, 2011). College graduates may face difficulty after college in looking for a job and may take time in order to do so. They do not have the money to live independently on their own since they have recently graduated and haven’t had the time to save money or get a job because they have been too busy with school, so their last resort is to move back with their parents while they search for a job that suits their profession. Level of education plays a big role in whether young adults decide to move back with their parents, those without a college degree are twice as likely...
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