Worldwide, Young Adults Fail to Launch in Epidemic Numbers
Are you the parent of a young adult who has, thus far, 'failed to launch?' If so, you are not alone. Read the following article to find out where America ranks on the list of young men and women who have failed to leave their proverbial nest.
The World's Young Adults Still at Home - By the Numbers
The number of young adults living at home has increased worldwide since the Great Recession hit in 2008. However, some countries are affected more than others. According to the Organization of Economic Cooperation and Development, Italy, Greece, and Slovenia have the highest percentage of youth living at home, with 70 percent of young adults ages 18-29 sharing a roof with their nuclear family. Experts who conducted the study from 2007- 2014, say it is because these countries were particularly devastated during the last recession, making it harder for their nation's youth to prosper. Canada, however, reported the least amount of its young adults still living at home, with about 30 %. Nordic countries such as, Denmark, Sweden, Finland and Norway also had small numbers of young men and women who have failed to launch. Although, researchers aren't entirely sure as to why their numbers are so fewer than others.
Where America's Young Adults Rank
From 2007 - 2014, the U.S. reported a 6 percent increase of its young adult population failing to leave home. Today, almost 67% of America's young adults still live with their parents - 3 percent lower than the western world's highest percentage of young men and women still living at home- compared to 63 % before the recession. These staggering results are significant as they have reached their highest numbers since before world war II.
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Since the Great Recession of 2008, there have been significant shifts worldwide in the number of young adults living at home.
But in some countries, the change has been more long-lasting and severe than in others.
From 2007 to 2014, the number of youth living at home across the countries belonging to the Organization for Economic Cooperation and Development increased only slightly, by 1.2 percent, according to a report released by the organization on Wednesday. And in some nations, the percentage of youth living parents actually decreased.