More Parents Are Helping Their Kids Pay the Rent

February 9, 2017
in Kids

Almost half of people in their early 20s have a secret, one they don’t usually share even with friends: Their parents help them pay the rent. Moving into adulthood has never been easy, but America’s rapidly changing labor market is making it harder to find economic security at a young age....According to surveys that track young people through their first decade of adulthood, about 40 percent of 22-, 23- and 24-year-olds receive some financial assistance from their parents for living expenses. Among those who get help, the average amount is about $3,000 a year. Earnings of young workers increased...

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