Instead of taking that leap into the next phase of life, recent college graduates have moved back into the nest.
This year, 77 percent of college grads moved back home with their parents after graduation, up from 73 percent last year and 67 percent the year before, according to a survey conducted by Collegegrad.com.
While the economic slump and higher costs of living are the primary culprit, moving back home has less of a stigma associated with it and has become a trend among the Gen Y population, according to experts.
“This is a trend we were hearing about even before talk of a recession really started,” said Sarah Zehr, assistant dean and director of Engineering Career Services at University of Illinois at Urbana Champaign in a report. “Gen Y students look to their parents for advice and support, and this is just another example of a trend with this generation.”
“This generation seems to have close relationships with their parents and isn’t experiencing the stigma or obstacles to returning home of previous generations,” he said.