A study from the European Commission showed that despite overall unemployment levels in the EU being at its lowest in nearly ten years, younger generations are bearing a particularly heavy burden.

The report states that the youth in the EU tend to find it harder to find work and are more exposed to “precarious” forms of employment, including temporary contracts, which the report states may lead to less social protection coverage. They are also likely to receive lower pensions.

“This annual study shows once again that we are steadily moving towards greater growth and employment,” Marianne Thyssen Commissioner for Employment, Social Affairs, Skills and Labor Mobility, said. “However, it is possible that today's youth and their children end up having a worse situation than their parents. This is not what we want. It is necessary to act quickly. With the European pillar of social rights we want to preserve and improve our social regulations and our living conditions for future generations.”

Eurostat figures showed that in May 2017, the youth unemployment rate (aged 15-24) was 16.9% in the EU28 and 18.9% in the euro area, compared with 19.0% and 21.3% respectively in May 2016. The overall euro area seasonally-adjusted unemployment rate was 9.3% in May 2017, while the EU28 unemployment rate was 7.8% in the same period.

The report from the European Commission also shows that, despite a steady improvement in the standard of living in the EU, young people do not benefit from the improvement in the labour market as much as older generations. In addition, over time the participation of younger age groups in labour income has declined. The report states that these challenges affect the decisions of young couples, including with regard to having children and buying a home. In turn, this can have negative consequences on fertility rates and, consequently, on the sustainability of pension systems and growth.

The working-age population is projected to decline by 0.3% each year to 2060. According to the Euroepan Commission, this means that a smaller workforce will have to maintain the current path to growth. It also means that at the same time a smaller number of contributors will contribute to pension systems - in many cases with lower or irregular contributions, since they will not correspond to full-time work and / or classic work - while more pensioners will depend on them. It therefore seems that young workers today and future generations face a double burden resulting from demographic change and the need to ensure the sustainability of pension systems. The Commission states that ‘social partners can make a significant contribution to closing the gap between the youngest and older workers in order to promote a fairer labor market for both.’ This would include lifelong learning and employment protection legislation.

Meanwhile, the  European Commission has also asked Spain not to fall into "complacency" and to undertake more reforms to "create jobs", reports RTVE. Spain’s unemployment rate in May stood at 17.7%, the second highest after Greece. The Commissioner for Employment and Social Affairs, Marianne Thyssen, made this recommendation during the presentation.