Struggles of Younger US Workers Ripple Through Economy

[marmar]

Washington, DC — Facing faint job prospects and mounting student loans, Courtney Schlottman did what many others her age have done, and moved back in with a parent. She became one more data point contributing to the nation’s stunted rate of household formation.

That’s a fancy way to describe the rate at which grown children leave the nest or depart the world of roommates for their own places. Derived from Census Bureau data, it’s an important economic indicator because, when normal, it portends a healthy housing sector, which in turn bodes well for the wider economy.

Statistics aren’t high on the list of worries for Schlottman, 23, a would-be educator who graduated from Bloomsburg University last year. She’s moved back in with her father in Reading, Pa., while riding out an underperforming economic recovery.

“In order for me to be financially stable, I have to live with my father,” she said. “I’m hoping it’s not much longer, maybe a year or two. But going to interviews and not hearing anything back, it’s not promising. My hope is one or two years from now I can get a full-time job.” ............................(more)

The complete piece is at: http://truth-out.org/news/item/20331-struggles-of-younger-us-workers-ripple-through-economy