We are proud to present this article from our friends at Yahoo Shine.
The very first episode of the Zeitgeist-y TV show "Girls" depicted the parents of main character Hannah yanking their financial support of what they call her "groovy lifestyle." They are fed up with funding Hannah's work as an unpaid intern after she graduated from an expensive liberal arts college. As a stepparent to two early-20-somethings, I watched this and chuckled knowingly. When will these (darn) kids foot their own phone bills, get real jobs, and find apartments? A new report released by the Georgetown Center for Education and the Workforce says that young adults' "failure to launch" is more about serious structural shifts in the economy and less about mom's free Wi-Fi.
"The economy determines what the possibilities are for people," Anthony Carnevale, center director and lead author of the study, tells Yahoo Shine, debunking the idea that some widespread character flaw is slowing down the millennial generation. "This generation has challenges that no other generation has faced. The on-ramp to career requires more entry-level preparation [than it did for previous generations]." He points out that while the cost of education has skyrocketed, a high school degree isn't enough to get a job anymore. Meanwhile, millions of positions were lost during the Great Recession, and those 20-somethings who did find employment were often the first to go during layoffs. "A lot of young people aren't making it from youth dependency to independent adulthood," he says.