A difficult job market and rising costs are making it harder for young adults to enter adulthood
Young people are already facing the worst entry-level job market since the start of the pandemic and significant economic instability.
But overall economic conditions are making it more challenging for those just entering adulthood. More than eight in 10 young adults rate the economy as “bad” or “terrible”, according to a recent survey conducted with more than 1,000 18- to 34-year-olds around the US by Generation Lab, a research firm studying young people. While young adulthood is known as a time for establishing independence and responsibility, many are attempting to do so amid cuts to social safety net programs and the ever-increasing costs of basic needs like gas and groceries.
“It’s been rough for a long time,” said Nia West-Bey, executive director of the National Collaborative for Transformative Youth Policy. “But I think we particularly have a confluence of long-term economic challenges on the income side and support side, now coupled with an increase in expenses on everything.”
Just want to make sure I understand your metrics. Is that “independent” meaning “outside your parents home” as in, “paying your own rent but have roommates”? Or is that “studio apartment living by yourself”? Neither definition is invalid, I’m just interested in the data.
Studio apartment and no parent involvement. You’re able to exist but that’s about it.
Oh hey, that’s literally me. Just barely staying afloat, with my studio apartment. A good month is one where I don’t have to withdraw from my meager savings to pay for groceries.