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This story originally appeared on Alto Nivel
By Antonio Sandoval
For the first time in nine decades , young adults have returned to parental homes at a rate not seen since the Great Depression era of the 1930s , according to an analysis by the Pew Research Center with data from the United States Census Bureau.
The obvious cause was the loss of job or decrease in income that the pandemic brought with it. According to the source, at the end of July the total number of young adults who lived with one of their parents or with both grew to 26.6 million , which meant an increase of 2.6 million compared to February , just before the devastating impact of the pandemic in the world’s largest economy.
This measurement includes only young people between 18 and 29 years of age and, according to the figures, the phenomenon was highly concentrated in the segment of young people between 18 and 24 years of age, the age of greatest economic vulnerability in adulthood. In percentage terms, it means that 52 percent of young people in the analyzed age range , 18 to 29 years old, live with their parents, the highest rate since the Great Depression era.
In fact, the Pew Research Center indicates that this rate of 52 percent is already even higher than the 48 percent reported in 1940 during the end of the Great Depression and the entry of the United States into World War II, with no accurate figures. in the worst part of the economic crash of the 1930s, so the most recent measurement is in fact the largest ever observed in