The number of college graduates moving back home has continuously increased over the past few years. In 2009, 80% of college grads moved back home after graduation. How many 2010 grads will do the same?
With the current economic condition and a tight job market, many recent grads return home to save money and stay there until they land a job, or become financially stable.
Things are looking slightly better for this year’s class. About 25% of the Class of 2010 who applied for a job actually have one lined up.
Graduating also means payments for student loans will soon be due. This financial pressure adds fuel to the fire in an already stressful situation of finding a job after college.
Because of the tight job market, college graduates seem to be more willing to accept entry-level jobs. This year, 39 percent of seniors reported they had received job offers, with 59 percent of those students taking the job. Last year, 40 percent of seniors were offered jobs, but only 45 percent accepted them.
Students are realizing they can’t be picky in their job selection, as they grasp the fact that the market is already flooded with many others with bachelor’s degrees looking for work.
Percent of college grads moving back home:
2006 - 67%
2007 - 73%
2008 - 77%
2009 - 80%