By DisobeyArt @ Shutterstock.com

Writing at Bloomberg, Peter Coy examines why, despite the second-longest economic expansion on record, Millennials, whose family formation was suppressed by the Financial Crisis, still aren’t forming families. Coy writes:

One possible explanation is that the economyโ€™s good health masks continued hard times for men and women in their 20s and early 30s, who are responsible for most baby-making. โ€œThis young generation, millennials, I think they still feel pretty uncertain, as if they canโ€™t afford to make this big long-term commitmentโ€ to raising a family, says Karen Guzzo, a sociologist at Bowling Green State University. โ€œThey have these standards: โ€˜I want to live in a good neighborhood. I want to have a house. I want to be able to have good child care and take time off from working.โ€™โ€‰โ€

The 3.9 percent unemployment rate in April seems to indicate that jobs shouldnโ€™t be a problem for people considering parenthood. But the share of twentysomething men who are employed still hasnโ€™t fully recovered from the blow of the recession. As of April it was down 2.4 percentage points for men age 20-24 (to 68.4 percent) and 2.2 percentage points for men age 25-29 (to 83.7 percent) compared with the last business cycle peak, December 2007, according to the Bureau of Labor Statistics. Some of those young men who arenโ€™t employed are in school; some would take a job but arenโ€™t actively searching. In any case, the drop in the employment-to-population ratio is an important number because โ€œin the fertility literature, the No.โ€‰1 determinant is the husbandโ€™s employment status,โ€ says Steven Lugauer, an economist in the University of Kentuckyโ€™s Gatton College of Business and Economics.

Read more here.