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Boomerang Kids in the Pandemic: How High-Income Families Are Their Own Safety Net

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  • Andre Luduvice
  • Rachel Widra

Abstract

In this Economic Commentary, we use the Current Population Survey to identify and examine the influx of young adults who moved in with their parents during the COVID-19 pandemic—the so-called boomerang kids—and how being in their family home influences their labor market decisions and sensitivity to occupational risk relative to that of other young adults. We find that most boomerang kids come from high-income families that can financially support them through nonemployment spells that are, on average, longer than those of young adults not living with their parents. Young adults living with their parents are also more responsive to the risk of COVID-19 exposure in the workplace and are less likely to work in occupations with high exposure risk.

Suggested Citation

  • Andre Luduvice & Rachel Widra, 2021. "Boomerang Kids in the Pandemic: How High-Income Families Are Their Own Safety Net," Economic Commentary, Federal Reserve Bank of Cleveland, vol. 2021(21), pages 1-7, December.
    • Handle: RePEc:fip:fedcec:93521
    DOI: 10.26509/frbc-ec-202121
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    References listed on IDEAS

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    1. Thomas Sargent & Lars Ljungqvist & Isaac Baley, 2017. "Turbulence and Unemployment in Matching Models," 2017 Meeting Papers 1391, Society for Economic Dynamics.
    2. Chatterji Pinka & Li Yue, 2023. "Recovery from the COVID-19 Recession: Uneven Effects among Young Workers?," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 23(3), pages 821-842, July.
    3. Chu-Ping Lo, 2020. "Wage Inequality, Unemployment, And Export-Oriented Policy," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 65(06), pages 1753-1772, December.
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    Keywords

    COVID-19;

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