The definition of adulthood varies dramatically by the cultural or generational lens you're looking through, and so the concept of 'adulting' can be in constant flux.
The definition of adulthood varies dramatically by the cultural or generational lens you're looking through, and so the concept of "adulting" can be in constant flux. But have recent historic moments, including a global pandemic and its far-reaching impacts, significantly shifted the timeline of certain milestones for our younger generations?
Jerry took a deeper look at Census data and labor statistics to curate a list of seven significant changes to our lifestyles, economics and society that have shaped the way we "adult" over time. However, across all American households, car ownership rates have been fairly steady over the years. The number of cars per household hasn't seen a significant change between 2001 and 2017 in either urban and rural regions, according to the latest data available from the U.S. Department of Transportation.
Adults are saving less overall and banking differently The amount of savings in the average U.S. bank account saw a steady decline from the 1970s through the 2000s. Average savings spiked during the peak of the COVID-19 pandemic in 2020 as spending flatlined and bank statements grew overall amid shutdowns and government aid. But Americans have burned through their savings since, with about $9,000 less saved on average in 2022 than in 2021.
There's also been a change in living arrangements over the years. American men and women ages 25-34 were more likely than those in the 18-24 demographic to live with an unmarried partner. Two-income, married households have become the norm Dual-income married households represented between 52-58% of homes in the U.S. between 1998-2017, according to consumer expenditure data from the U.S. Bureau of Labor Statistics. The proportion of these households doubled from 1960-2000. Several factors contributed to this change, including a rising cost of living and more women taking on jobs; by 2020, 56% of women were part of the American workforce.
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