Goldman Sachs: Labor Market Conditions And High Debt Loads Are Keeping The Young At Home

The share of 18 to 34 year-old living (millennials) at home with parents jumped by around 450bps during the recession and its aftermath. This trend lasted until the second half of 2014 when the percentage of kids living at home began to decline. However, the decline has stalled over the past few months, and the number of kids living at home has remained relatively constant since the beginning of 2015. Goldman Sachs believes that this trend has something to do with youth unemployment rates and increasing rent costs. According to the bank’s data, unemployment rates among 18-34 year-olds remain disproportionately elevated, with…