Millions of young adults moved in with parents during coronavirus pandemic, report says

Millions of young adults moved in with parents during coronavirus pandemic, report says
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Millions of Americans have moved back home as the pandemic causes financial strain, a report found.

A Zillow analysis on current population data from the U.S. Census Bureau found that a record 32 million adults were living with their parents or grandparents in April, and of those who have recently moved back home, many of them are adult members of Generation Z.

The pandemic has been tough financially on younger adults.

A Pew Research report from March found young people were likely to be disproportionately affected by layoffs related to the crisis as nearly half of workers ages 16-24 work in the service sector and younger workers make up 24% of employees in higher-risk industries.

Unemployment numbers have surged in the United States during the pandemic, with another 1.5 million filing claims last week, per Labor Department data.

In April the unemployment rate hit 14.7%, according to the U.S. Bureau of Labor Statistics. And though unemployment spiked among all worker groups, young workers got the brunt, CNN Business reports.

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