Today’s young adults are a new breed

Posted On July 11, 2014

Bosses, parents and peers shake their heads at today’s “peter pan” kids – young adults who won’t grow up and seem to have lost their way. There were some in the Xer generation and even more with the Millennials – as they stepped out into the great big world right as the world folded in on itself (at least economically speaking). Where 20 years ago a new college graduate would strike out on his own and start making his own way, today’s graduates are saddled with debt and having trouble holding onto even the lowest rung on the corporate ladder.

It’s easy to write them off as under-achieving, but the truth is more complex. And, as this NY Times magazine article explains, these so-called boomerang kids are changing the profile of a generation of workers. The article is a solid discussion of this growing trend, but perhaps the most telling component is the series of interviews with the 20-somethings who were profiled for this article. The common denominator?  Student loan debt. According to the article, nearly 45 percent of 25-year-olds, have outstanding loans, with an average debt above $20,000. It is easy to see why that twin bed in the room down the hall begins to look like the smart choice.

Categories:
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Generation Y / Millennials, Recession Economy