The Boomerang Generation
In a New York Times piece, Adam Davidson discusses the economic shifts and challenges that confronted Millennials and impacted their future career success.
New York Times Magazine piece this past month, Adam Davidson outlined some of the broader, systemic changes that have disrupted the traditional careers pathways of young people in America.
Davidson outlines that
"the latest recession was only part of the boomerang generation’s problem. In reality, it simply amplified a trend that had been growing stealthily for more than 30 years. Since 1980, the U.S. economy has been destabilized by a series of systemic changes — the growth of foreign trade, rapid advances in technology, changes to the tax code, among others — that have affected all workers but particularly those just embarking on their careers."
Davidson continues, and references some of the many ways in which economic changes are changing life decisions for young Americans. He notes that "In 1968, for instance, a vast majority of 20-somethings were living independent lives; more than half were married. But over the past 30 years, the onset of sustainable economic independence has been steadily receding. By 2007, before the recession even began, fewer than one in four young adults were married, and 34 percent relied on their parents for rent."
Read the full piece,
"It's Official: The Boomberang Kids Won't Leave."