MOSCOW (Sputnik) — European Commission President Jean-Claude Juncker pledged on Wednesday to prevent the generation Y, also known as the millenials, from facing a decline in living standards and having lower income than their predecessors.
"I will not accept that the generation Y might be the first generation in 70 years to be poorer than their parents," Juncker said in the annual State of the Union speech.
Juncker stressed that youth unemployment rates in Europe continued to be high.
"I cannot and will not accept that Europe is and remains the continent of youth unemployment," he said.
The State of the Union of 2016, an annual address of the European Commission President, highlights job policy, sustainable growth, migration, environment and terrorism.