Millennials are moving less than preceding generations


How can you tolerate missing out on this?

Americans are moving at the lowest rate on record, and recently released Census Bureau data show that a primary reason is that Millennials are moving significantly less than earlier generations of young adults.

In 2016, only 20% of Millennial 25- to 35-year-olds reported having lived at a different address one year earlier. One-year migration rates were much higher for older generations when they were the same age. For example, when members of the Silent Generation were ages 25 to 35 back in 1963, 26% reported moving within the prior year. And in 2000, when those in Generation X were the age that older Millennials are today, 26% of them reported having moved in the previous year…

It may seem counterintuitive that Millennials would be contributing to a trend toward less geographic mobility. After all, according to Pew Research Center analysis of Current Population Survey data, they are less likely than earlier generations to have three things that tend to be impediments to moving for a young adult:

A spouse…A house…A child…So, if Millennials are less hampered by spouses, houses and kids, why are they moving less than previous generations did at their age?

Labor market opportunities may be a factor. Millennials were hit hard by the Great Recession in terms of job-holding and wages. For many young adults who moved in the past year, job opportunities were a prime motivation for moving, and the modest jobs recovery may not be providing the impetus Millennials need.

RTFA. Interesting, provoking. To my mind – which still thinks it’s 26 years old and keys in on non-conformity to cultural traits and standards stuck into the past – all mostly positive developments.

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