Study: Facebook use correlates with narcissism in teens

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The results weren't all negative for social media enthusiasts. Rosen found young adults who spend more time on Facebook are better at showing  “virtual empathy," the ability to understand and share the feelings of others in a virtual setting.

According to the study, social networking sites also can help introverted adolescents learn how to socialize. 

“While nobody can deny that Facebook has altered the landscape of social interaction, particularly among young people, we are just now starting to see solid psychological research demonstrating both the positives and the negatives,” Rosen said.

In his presentation, Rosen told parents not to bother trying to track their children's online social networking. Rather, they should talk with their children about how to appropriately use online technology.

Parents should have those conversations as soon as their children start using technology, Rosen said.