85% of New College Grads Moving Home
The kids are coming back home to roost.
Surprise, surprise, thanks to a high unemployment rate for fresh grads, many with diplomas fresh off the press are making a return to Mom and Dad’s place. In fact, according to a poll conducted by consulting firm Twentysomething, Inc, some 85% of graduates will soon remember what Mom’s cooking tastes like.
Times are undeniably tough. Reports have placed the unemployment rate for the under-25 group as high as 54%. Many of these unemployed graduates are choosing to go into higher education in an attempt to wait out the job market, while others will go anywhere – and do anything – for work. Meanwhile, moving back home helps with expenses and paying off student loans.