Roughly half of the population 18 to 24 still lives with their parents. In one recent Pew study, 13 percent of parents with grown children reported one of their adult offspring had moved back home in the past year. . . . Many young people moved back home with their parents when their high paying jobs in real estate or mortgage brokerage disappeared. (Source)
Meanwhile, US Labor Dept. reports that the employment rate of 16-to-24 year olds has eroded to 46.6 percent — the lowest ratio of working young Americans in that age group, including all but those in the military, since WWII. (Source)
And . . .
one in five Americans is unemployed, underemployed or just plain out of work. One in nine families can’t make the minimum payment on their credit cards. One in eight mortgages is in default or foreclosure. One in eight Americans is on food stamps. (Source)