Finance: Still Dependent on Parents’ Money – Regional Economy

Mona Wenisch

Wiesbaden / Nuremberg. School, training or studies: young people are often not yet able to finance their own lives. The majority (51%) of people aged 15-24 in Germany live at the expense of their parents or other relatives. Only 38 percent were earning a living on their own last year and living on their own gainful employment, the Federal Statistical Office reported on Thursday for Youth Day.

30 years ago, the proportion was exactly the opposite: more than half (52%) of the young age group made a living from work, and 40% it was still financially dependent on its relatives. According to Bernd Fitzenberger, director of the Institute for Labor Market Research and Occupation (IAB) in Nuremberg, this is also due to the changing situation of many families compared to the previous one. “People were more confined to the local labor market and the parents’ income situation was not as good as it is today,” he said. “Many middle-class parents may also allow their children to look for the right match for longer. It comes with the challenge that there are so many options that it is afraid of making the wrong decision. “

One year after high school graduation, I would prefer to go to school after graduation – the time that young people use for orientation, but which delays the start of their career. “We are now at the older age where young people are starting to train, over 20,” said Fitzenberger. “I’m afraid the Corona crisis will increase it again.”

Training companies have experienced a serious crisis since at least the pandemic. Young people’s insecurity also plays a major role. “Someone has to

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