WASHINGTON (AP) - After initial signs of recovery, U.S. mobility for young adults has fallen to the lowest level in more than 50 years. Cash-strapped 20-somethings are shunning home buying and refraining from major moves in the weak job market.
The new 2013 census figures underscore the impact of the sluggish economy on young adults. Some demographers describe this group as "Generation Wait."
Burdened with college debt or toiling in low-wage jobs, they are delaying careers, marriage and having children. Waiting for their lucky break, they are staying put and doubling up with roommates or living with mom and dad.
Among adults ages 25-29, just 4.9 million, or 23.3 percent, moved in the past year. That's down from 24.6 percent in the previous year. It was the lowest level since at least 1963.