Boomerang Kids: Market dynamics and moving back home.
About 15 million young adults were reported living with their parents last year and according to the U.S. Department of Labor, “the unemployment rate for bachelor's degree holders under the age of 27 is the worst since 1983” (CBS News). Those young adults are now called “boomerang kids”. So what do you do when you graduate without a job lined up? You used to go back home to try to save money or to try to repay some loans, that’s old news. Now, it’s different. You go back home because you just can’t find a job, period.
How can this be avoided? Well, according to Rich Morin, senior editor at the Pew Research Center in DC, "This recession has hit young adults particularly hard." (CBS News) Trying to get back on your feet isn’t that easy and the economy is one of the main causes of that trend. Hence, getting America and the economy back on track would make a big change; more openings would be created and more people would get hired and fewer kids would go back home. How to do that, is far beyond my knowledge. However, people should think about it and work on a solution; our economy needs to do better, loan interest rates and college tuition need to go down, jobs should be created and a Bachelor’s degree should be valued for us to see the Boomeranging kid rate drop in a soon future.
On another note, a lot of books are now coming out on “How to get rid of your “boomeranging kid””, or “10 things to do and not to if you child comes back home” or “The best way to avoid having your kid move back in.” I want to give a big applause to some ‘writers’ for taking advantage of every possible situation and writing a “delightful” and “very useful” book, article or paper, you name it, about those. One of my favorite example is the “How to get rid of your boomerang kid” article written by Matt Brownell, in which he gives great tips to parents like “Draw up a contract”, “Charge rent” or “Provide Incentive” to your dear...
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