If the thought of living at your parents’ house forever is discouraging, ask yourself:
“What’ll my kids think when I raise them in their grandparents’ house?”
This is the multi-generational household.
According to a recent Statistics Canada report, in the last 16 years, Canadian households with at least three generations of the same family, grew 38 per cent.
So, at what age should you move out of your parents’ home? The more relevant question – at what age can you?
Since 2001, the percentage of Canadians aged 20 to 34 living with a parent increased 4.1 percentage points to 34.7. It’s highest in Ontario at 42.1 per cent, and even greater in Toronto at 47.4. With Toronto home prices doubling over the last nine years and fluctuating around its all-time high, rental prices are soaring, approaching Brooklyn and London rates.
How many young adults would consider raising kids in their parents’ home and living in a multi-generational household? Not many.
Statistics Canada reported that the Canadian fertility rate is dropping and fewer Canadians overall are having children. The percentage of young adults living with their own children decreased from 32.9 per cent in 2001, to 25.5 in 2016.
So, how do young adults and post-secondary students desiring raising children in their own home achieve that dream?
Start with acquiring related work experience as early as possible. In 1990, under half of young Canadians earned a university or college degree. Today, approximately 75 per cent are enrolled. There are more job seekers with post-secondary degrees and less entry-level positions, resulting in greater competition at possibly an unprecedented level. Gaining a competitive edge has never been more crucial and many post-secondary students accumulate experience during their studies. Employers don’t wish for related work experience from candidates, they require it.
Career Edge connects job seekers to top employers with paid internships that provide coaching/mentoring, on-the-job training, knowledge transfer, and networking opportunities. In the past year, 78 per cent of Career Edge Interns secured meaningful, full-time employment within three months of completing their internship, many of whom were hired by their internship host employer.
Not interested in living a multi-generational household? Try a Career Edge internship.