"If we don't invest for the youth, we have to pay at a higher price in the future," Andor told a panel discussion in Vienna, under the title of "Globalization, Demography and Social Aspects of the Economic Crisis".
The unemployment among young people remains a headache across Europe. Statistics showed that the youth unemployment has been over 10 percent in many European countries and in some well over 20 percent, Andor said, adding that the youth unemployment had become a major challenge for the European Union.
He noted that the European society would age quickly in the coming decades due to a low birth rate, which could lead to quick drop in the labor force. But this did not mean the unemployment problem of the young people could be solved automatically, Andor said. He said policy makers should focus more on the future development of the EU and attach greater importance to youth Education.