“The older generation benefited from decades of rock-solid job protection, union-guaranteed salary increases and the promise of a comfortable retirement. All this has allowed them to weather Europe’s longest postwar crisis reasonably well.  By contrast, many younger Europeans can hope for little more than poorly paid, short-term contracts. Employers in many countries are reluctant to hire on permanent contracts because of rigid labor rules and sky-high payroll taxes that go to funding the huge pension bill of their parents. The breach is widening: Median income for people over 60 rose between 2008 and 2012 in nearly every EU country; it declined for people under 25 in almost half.”

http://online.wsj.com/articles/in-europe-job-protections-for-older-generation-are-barriers-for-younger-workers-1407541533

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