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News Link • Economy - Economics USA

Recent Graduates Not Only Move Back Home, But Stay There

Ashley Moore never planned on moving back in with her parents. Nearly a year after graduating from college, Moore, 22, also never expected to still be waking up in her old twin bed every morning. “It’s been difficult because not only was I on my own, I was really far away,” explains Moore, a St. Louis, Mo., native who graduated from Pace University in New York City. At one point, she spent an entire year away. “What I miss most is my freedom and having my own space.” We spoke yesterday via Skype. You can see Moore describe what it’s been like to move back home: Like many 20-somethings, Moore is experiencing what it’s like to not only move back home, but stay there. Despite a recent report released by the National Association of Colleges and Employers, which predicts that 2011 graduates may enter into an improved job market, many remain skeptical. Andrew Sum, an economist at Northeastern University, concedes that while “it’s better to be plus than minus, we’ve still got a really long way to go until we restore things back to the way they used to be.” Sum calls it the war against the young. Specifically, he's seen a record number of college graduates forced to move home. Using data from the U.S. Bureau of Labor Statistics, Sum reports that 12.8 million young people under the age of 30 are either unemployed, working part-time or working at a job that doesn’t require a college degree.

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