The average wage, yes, but those “averages” are, much like in the US, (incredibly) skewed by the very high income “earners” at the top to a larger and larger degree the more neo-liberal we get. The actual “average” wage lies somewhat to quite a lot lower, depending on which European country you take as a model. The Netherlands is actually relatively bad in this regard due to a relatively high percentage of large income earners a lot of whom also happen to be expats with residency, which causes them to be counted in some official statistics, but not others which skews the whole thing downwards for the general population, at least in practice.
As mentioned before Spain has even more of a crisis among the millennials and older gen-z in the making than we do because of its particularly towering youth unemployment.
Yes, the problem is that for my generation, the so-called Millenials wage growth has been extremely sluggish, and was actually in reverse during the latest crisis when the first of us really had to enter the labour market, compared with the two or three generations immediately before us, which is causing a lot of strain on the system as we’re reaching the age where living at home is becoming untenable. Some of my friends are simply waiting to inherit their parent’s houses with no or relatively low mortgages for others, particularly in Amsterdam who are caught in the current private rents trap the prospect of home ownership and thus true middle-class relative affluence remains a distant prospect. To be sure the systemic economic problems of the EU and its individual member-states are different and more varied than those of the US, but they are very much real and in many cases I think on the brink of boiling over.