Economy Forces 'Boomerang Kids' Back Home

Managing the expectations of your free-spending kids

(NEWSER) - What to do with a 10-year-old daughter who insists—insists!—on designer 'jeggings' for fall? "Manage expectations," advises the Wall Street Journal in a feature on suddenly cash-strapped middle income parents and their "costly" kids. Today's children face a real drop in their standard of living, writes Sue Shellengarger, and it's up to their parents to guide them through this "painful" shift. More»

(NEWSER) - Families are traveling more often, and recession-battered hotels are ramping up their kid-friendly offerings, the Boston Globe reports. Rooms occupied by families with children accounted for 27% of the total in 2008, up from 25% in 2004, and lodgings are watching the trend. Whether it's free Wii, a dog to walk, or a theme guest room, the trend is picking up and is no longer relegated to just the summer months. More»

Experts advise on how to avoid resentment when kids have to return to the nest

(NEWSER) - Tempers are fraying in households across America as tough times force a growing number of adults to move back in with their parents, the New York Times reports. The move is difficult for both sides, experts say, as the offspring chafe at new restrictions and struggle with feelings of failure, while the parents often resent having a less tranquil retirement than they'd bargained for. More»

Payrolls dropped by 63,000; recession fears intensify

(NEWSER) - The US lost 63,000 jobs in February, the second straight month payrolls contracted and the worst drop since 2003, catching economists off guard and fanning fears of recession anew, Bloomberg reports. Economists hoped the economy would add 23,000 jobs after declining a modest 17,000 in January, when the unemployment rate rose to 4.9%. More»

'Boomerang kids' have trouble finding well-paying work

(NEWSER) - As many as three out of 10 young adults are moving back in with their parents—resulting in the highest share of 18- to 34-year-olds living with multiple generations since the 1950s—after finding themselves unable to find lucrative employment in this dismal economy. They're dubbed "boomerang kids" because they depart for school or work only to return to the nest, but surprisingly, reports the Christian Science Monitor , 78% say they're happy living at home and 24% say it's positive for their relationship with their parents. More»