00:02Juggling study with earning money and a career change thrown into the mix has meant that at 29 Peter Taylor
00:10is living with his parents.
00:12Young people feel a lot of pressure to be successful or get a better job or go to university and
00:18the reality is if we want that to happen in our current economic environment people have to live at home.
00:24A new report has found half of young adults lived with their parents in 2024 compared with 39% in
00:322001.
00:33There's multiple factors behind that. Certainly one of them is the high cost of housing and the high cost of
00:40living more broadly.
00:41It's also reflecting the fact that more and more of us are going to university.
00:46The University of Melbourne has been tracking 17,000 Australians over more than 20 years to measure changes in their
00:53lives.
00:54It's found ongoing evidence of rising costs with food insecurity affecting 18% of people up from 14% four
01:03years ago.
01:05This neighbourhood house outside of Hobart struggles to maintain food relief supplies to meet growing demand.
01:14Whether they're employed or they've always had a comfortable existence up until now,
01:18this last 12 months has really pushed people beyond that point of sustainability.
01:22At the time of the survey, employment was at a record high and it also found more people hold university
01:30degrees.
01:31And while half of Australians felt they were overqualified for their jobs, higher education pays off with higher earnings.
01:408.
01:409.
01:4011.
01:40The Office of Congress.
01:40The Office of Congress.
01:41Customers are having a successful business as well.
01:41The Office of Congress.
01:41theña Airs. 15.
01:4114.
01:412.
01:4150.
01:41of the state and theFI. 16. The
01:41Congress. 21. 18.
01:4121.
