Graduates moving back home. — from CityTownInfo Career and Education News, May 28, 2010
As college graduates face one of the bleakest job markets in history, many are being forced to move back home with their parents until finding gainful employment.
A survey conducted by the Pew Research Center last November found that 13 percent of young adults ages 22 to 29 had moved in with their parents after living on their own as a result of the recession. Yet the numbers increased dramatically in a survey that focused solely on recent college graduates: USA Today reports that according to a poll by entry-level job site CollegeGrad.com, 80 percent of 2009 college graduates moved back home with their parents after graduation. By comparison, 77 percent of graduates moved back home in 2008, 73 percent in 2007 and 67 percent in 2006.
“When I started applying for jobs back in September, I thought I’d have it all lined up by the time of graduation. But it’s a different economy now,” said Matthew Denney, who is graduating from William Woods University this month and was interviewed by KRCG 13 in Missouri. He will be moving home to Canada, where he will continue his job search.