More young Australians stay home, rely on bank of mum and dad
New data has revealed why anxious young Australians are not flying from the family nest, and are now three times more likely to be living with their parents than be married.
National
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Anxious Millennials are not flying from the family nest, and are now three times more likely to be living with their parents than be married.
A sweeping 10-year comparison of the lives of Australia’s 25-year-olds reveals that today’s Millennials are finding it tougher to build a career, buy a home or form a family.
Only 11 per cent of 25-year-olds were married in 2019 – down from 18 per cent in 2009.
And 38 per cent live with their parents, compared to 33 per cent of 25-year-olds in 2009.
Home ownership has plummeted, with just 16 per cent of 25-year-olds owning or buying a home in 2019, compared to 26 per cent in 2009.
Thirty per cent of young people were living in a de facto relationship in 2019 – up from a quarter of 25-year-olds in 2009.
Young Australians are finding it harder to get full-time work than they did a decade ago, with most working in retail, teaching or nursing.
The National Centre for Vocational Education Research (NCVER) has released its latest study tracking the lives of 14,000 young Australians.
New data – collected before the COVID-19 recession drove youth unemployment to 14.5 per cent – shows that more Millennials are working part-time.
The proportion with full-time careers has fallen from 70 per cent to 65 per cent in a decade.
The survey reveals a crisis of confidence among millennial workers.
More than half of today’s 25-year-olds feel they do not have the self-confidence or self-esteem to land a job – compared to just 15 per cent in 2009.
NCVER managing director Simon Walker said young people today are “coming up against more and more barriers while looking for a job’’.
Poor health, low self-esteem and a lack of suitable education or skills were the main stumbling blocks.
At least 40 per cent of today’s 25-year-olds blame health problems or a disability for trouble finding work, compared to just 17 per cent of young people in 2009.
Two-thirds said they did not have enough experience to get work in 2019, compared to just half of the 25-year-olds in 2009.
And 43 per cent said employers regarded them as “too young’’ for jobs in 2019, compared to just 7 per cent of the young people surveyed in 2009.
The survey shows 71 per cent of Millennials believe there are not enough jobs to go around, compared to half of the 25-year-olds in 2009.
A lack of education, or the wrong training, was cited by 62 per cent of young workers in 2019, compared to 41 per cent in 2009.
Only 17 per cent of the Millennials in 2019 had completed an apprenticeship – down from 25 per cent in 2009.
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Originally published as More young Australians stay home, rely on bank of mum and dad