Are Millennials Really Fleeing New Jersey In Droves?
Millennials are currently facing issues that didn't exist for previous generations. For example, high student loan debt. Is this causing them to get out of NJ as fast as possible?
Sources report not. Studies have shown that young adults relocating out of state has remained pretty steady over the past thirty years. Statements previously made by certain NJ representatives seem to claim that millennials are fleeing the state at an unprecedented rate compared to previous generations. Turns out, that's actually not true.
NJTV reports on a fairly recent study performed by the Bloustein School at Rutgers University. The report shows that the rate of those moving out of state has, pretty much, stayed the same since the 1980s. Unfortunately, that doesn't mean millennials aren't experiencing their fair share of problems within the state. Almost HALF of millennials who call Jersey home are currently still living at home with their parents, which means in order for them to stay and start their own families within the state, issues like affordable higher education and high property taxes need to be addressed.
So, the question remains: What will happen if and when millennials can finally survive monetarily on their own? Will NJ even be an option? For many, the pandemic made the answer to that question clear as day: a big fat "no." Unfortunately, with everything that's happened over the last few years, pandemic-related or not, it's bound to be hard for most millennials to maintain a decent quality of life within the Garden State on their own. Sure, partner up with somebody and it'll make things more affordable, but nobody wants to be forced to enter a relationship due to money circumstances.
Bottom line: If no solution is found, New Jersey could experience a negative economical hit over the next ten years.