More Millennials Living with Mom & Dad

FRESNO, Calif. (KMJ) — Despite an improving job market, more millennials are living with their parents.

The 18-to-34 population has grown by nearly 3 million, since the great recession hit in 2007. At that time, about 42.7 million adults in that group lived on their own.

8 years later, that number has fallen to 42.2 million.

According to the Pew Research Center, it’s not a lack of jobs. The young adult labor market continues to strengthen.

However, the decline in independent living is having a broad impact. There’s been lower demand for housing, furnishings, as well as telecom and cable installations.