Connecticut Millennials Not Ready to Pack Up & Move Out

It appears that if moms and dads in Connecticut are looking forward to that empty nest, they may have to wait another 5 to 10 years.

A NewsTimes article quotes a study from the Pew Charitable Trust showing millennials, which are the 20 to 30 something age group, are not in any hurry to leave the nest, much to their parent's dismay. Connecticut is the #2 state in the country when it comes to millennials living at home. From 2014 to 2016, the percentage of the 18 to 34 age group still living at home in Connecticut jumped from 25.4% to 38.8%.

The reasons more post high school and college students are living at home are the postponement or retreat from marriage. Another reason is employment status, and in many cases the wages earned aren't sufficient enough to meet the monthly cost of renting an apartment. The Great Recession in '07, '08, and the first half of '09 was also partly to blame for millennials not being able to make ends meet on their own.

One very important statistic stands out from the Pew Charitable Trust poll. Here's the quote from the article.

Young adults with a college degree have fared much better in the labor market than their less-educated counterparts, which has in-turn made it easier to establish their own households.

The top five states with the highest percentage of high school or college graduates still living at home are, New Jersey, Connecticut, New York, Florida, and California. Matt, our oldest who's the marketing and internet director for a major car dealership, lives with his wife, Kelly and their 2 1/2 year old. Allie, who's 26 and an LPN, lives with her boyfriend in Bristol. Honestly, I love having only one at home. Like most households where all five in a family live together, it can be chaos and I'm not a big fan of chaos.

Listen to Ethan Carey on the Ethan & Lou Show weekdays from 5:30-10AM on 95.1 FM. You can listen online at i95rock.com/listen-live/ or by downloading the radioPup app for your mobile device.