While the national unemployment rate is down to 4.7 percent, many millennials are finding it harder to land jobs and make their way out of their parents’ houses. Many young adults who believed that they would graduate college and enter the real world smoothly have found the transition to be rockier than they anticipated. Safia Samee Ali reports of NBC News reports what’s making “adulting” difficult.
By his twenties, Kyle Kaylor imagined he would be living on his own, nearing a college degree, and on his way to a job that fulfilled him.
Instead, at 21, he found himself out of school, living with his parents, and "stuck" working as a manager at a fast food restaurant scraping to make hand-to-mouth.
Launching into adulthood has been tricky, he said.
"It became too difficult financially to be in school and not working," says Kaylor, who dropped out of Lincoln Christian University, in Illinois, after one semester because of a money crunch. "And without schooling, you can't get a job that you can survive on, so I had to move back home," he said.
It's a scenario that has become far too common, according to a new census report out Wednesday that reveals staggering statistics on millennials and their journey to independence.
For one, the report shows young men like Kaylor, who makes less than $22,000, have fallen by the wayside when it comes to income.
"In 1975, only 25 percent of men aged 25 to 34 had incomes of less than $30,000 per year. By 2016, that share rose to 41 percent of young men," according to the report.