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Mon, Jan 22, 2018, noon: Narayan Sastry

story art

PSC trainee Zabek and former PSC post-docs Coate and Krolikowski find earnings recovery after job loss faster for young adults living near their parents

a PSC In The News reference

"Living Near Your Parents Could Help Limit the Long-Term Damage of a Layoff" - Wall Street Journal. 02/14/2017.

Job loss can have long-term effects on future earnings. But living close by parents may mitigate this impact for young adults. Analyzing PSID data, researchers Patrick Coate, Pawel Krolikowski, and Mike Zabek found that adults ages 25-35 who had a job loss and lived near their parents earned about the same as a control group who did not suffer job loss after 5 years. But their counterparts living further from their parents had large earnings declines persisting for 10 years.

Related report

Researcher:

Michael Zabek

More Media Coverage:

Cleveland Fed. Parental Proximity and the Earnings Consequences of Job Loss. 2/9/2017.

Business Insider. Staying close to home could be the smartest financial decision millennials make. 2/13/2017.

Forbes. Living Near Your Parents Can Help You Get Ahead In Your Career, Study Suggests. 2/17/2017.

Time. The Surprising Reason You Should Live Near Your Parents. 2/23/2017.

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