Record 52% of young adults living with parents amid pandemic, report finds

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A record 52% of Americans between the ages of 18 and 29 are living with their parents, according to a Pew Research Center report.

Young adults have lost jobs and taken pay cuts at higher rates than older workers during the pandemic, Pew found. It estimated that 26.6 million young adults are now back in the nest.

The percentage of young adults at home rose from 46% in January to 52% in July, according to Pew. In July 2019, only 47% of them were living with their parents.

The previous record was set at 48% in 1940, according to Pew data. Researchers noted that data wasn’t collected in the mid-1930s at the height of the Great Depression, so numbers may have been higher then.

This year’s increase was seen across all races, genders and regions. White people moved home at the highest rate (from 42% in February to 49% in July), but Black people (50% to 55%), Asians (46% to 51%) and Hispanic people (55% to 58%) all saw increases as well.

Pew estimated that 2.1 million of the 2.6 million people who headed home since February were between the ages of 18 and 24. People those ages also lost jobs at the highest rate.

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©2020 New York Daily News