There is an interesting trend that is affecting the economy and job market in the United States, according to research specialists for CNN Money. By analyzing these trends through employment reports, economists can determine and predict some of the outcomes for the future of the economy. For instance, the employment rate can provide some hints about what to expect in regard to the housing market, job growth, or wage growth. Therefore, it is important to evaluate all of the factors affecting the economy so that patterns and/or trends can be found. These trends can help specialists understand the fluctuations in the economy and help them prepare for future economic down or upturns. For the purpose of this article, the various factors that are contributing to unemployment in the United States will be discussed and the most current economic trends will be revealed.
Young Professionals Living at Home
For several years now, it can be seen that more adults and young professionals are choosing to live at home with their parents for extended periods. In fact, it is common for 25 to 35 year old adults in the U.S. to be staying with their parents while they save money and try to pay off remaining debts from school. Moreover, approximately 20 percent of those adults who are still living comfortably at "home" are unemployed as well. This number is a large portion of workers in the job market today, and it will not change if these adults see no reason to change their personal and professional situations.
Less Buyers in the Housing Market
As previously mentioned, the employment rate can be an indicator of the housing market. In recent times, this has truly been the case in that the housing market is suffering from a lack of buyers. Since more young people are choosing to live at home, there are less people on the market looking to buy new homes. Traditionally, however, young people would be moving out sooner than later which means typically around the age of 25. As a result of these late "bloomers," the housing market for sellers is tough and still looking bleak.
Limited Ability to Save or Invest
It seems obvious that young professionals who are still living at home would be able to put some money away, while putting some of their income towards debt repayment. Unfortunately, this is not the case for adults today who have recently or are in the process of entering the job market. Due to a slow progression in job growth, young adults are finding it difficult to not only obtain employment, but find jobs that are well paid. Not to mention, there are less jobs available in the inner city's of many large American cities. As a result, young professionals are forced to find jobs that require a daily commute. With the costs adding up to include daily commutes and transportation, it is becoming more difficult for young adults to put money away for future investments, such as housing.