The fact that so many Millennial adults are living with their parents partially hides the fact that our generation has been plunged into a level of unemployment and poverty with no parallel since the Great Depression. If poverty status were determined by personal income, 45.3 percent of adults between the ages of 18 and 34 would qualify as living in poverty.Clearly, we are living in a different economic age than the one that many of us were raised to expect.
In his new book, End This Depression Now!, economist Paul Krugman observes that, “People who want to work but can’t find work suffer greatly, not just from the loss of income but from a diminished sense of self-worth.” The youngest cohort of adults today are not simply facing a loss of income, we are facing a loss of meaning. Who are we? What is our purpose? What value do we offer a society that tells us repeatedly and simultaneously: “We don’t need you,” and “Why don’t you grow up?”