If You Need Help Finding a Job, You Might End Up in Your Parents’ Basement

November 26, 2012

Job Hunt

Get Hired Fast - need help finding a jobHere’s another bit of bad news about the U.S. economy: If you need help finding a job, you might find yourself living in your parents’ basement.

According to a story by the New York Times, the country’s economic slump has sent millions of adult children out of work and back living with their parents.

This is undeniably frustrating for these young adults. But the challenge of conducting a successful job search has prevented many of these adults from, effectively, starting their own, independent lives.

Back Home

According to the New York Times story, which relied on data compiled by Moody’s Analytics, the number of unemployed adult children living at home with their mothers and fathers has doubled since 2007.

That’s significant. According to the numbers, 2.5 million young adults in 2012 were out of a job and living with their parents. That compares with 1.3 million in 2007.

Better News

There is some good news, though. A growing number of these young adults have been able recently to find a job. According to a story by the Huffington Post, the rate of household formation in the United States has doubled from its average level during the economic downturn.

A big reason for this? Many of those adult children have been able to find a new job, save some money, and move out.

This is good not just for the self esteem of these adult children, but for the health of the country, too. The country’s economy improves when the number of new households increases. That’s because this provides a boost to the all-important housing market and because new homeowners tend to spend more on products such as furniture, paint, lawn equipment, and carpeting.

Your Job Search

But what about your search for a job? Are you still out of work? Are your resumes and cover letters generating silence?

If so, it might be time to adopt a new approach to landing a job. Sign up for our Get Hired Boot Camp and our career counselors can give you the job search strategies that can provide a boost to your efforts to find a new job.

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