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Young staying home longer

YOUNG people are better educated and earn more than ever - but Generation Y is sucking its parents dry.

A snapshot of the nation's young released by the Australian Bureau of Statistics shows people aged 15 to 24 are staying at home for longer and spending more time in full-time study.

The 2001 census data shows 53 per cent of young people and 32 per cent of those aged 20 to 24 are in full-time study. The proportion of young people at university rose from 13 per cent in 1996 to 17 per cent in 2001.

A total of 68 per cent of 20-24 year-olds worked either full or part-time, bringing home a median wage of $375 a week.

But as they spend more time studying and the cost of rent and university tuition rises, young people are doing the arithmetic and opting to spend longer living at home.

Nearly 60 per cent of young people lived with their parents in 2001. In the 20-24 age group, the number living at home rose from 37 per cent in 1996 to 40 per cent in 2001.

While rent and bills were once the price young people paid for freedom, today's parents are more generous, giving young people the best of both worlds in the family home.

Young men are more likely to live at home than young women, with 45 per cent of men aged 20 to 24 at home, compared with 34 per cent for women the same age.

For those young people who leave the nest, 38 per cent live with a partner and 27 per cent in a group household, with just 11 per cent choosing to live alone.

About 6 per cent of young people had children, with two-thirds of young parents living with their partner.

The snapshot found the median income for all young people was $179 a week, $166 for indigenous youth and $117 for those of non-English speaking backgrounds.

And young men earned more than young women, regardless of the cultural background.