Population inequality is a pressing global problem that scientists, activists, and some politicians have been pointing to for decades. It is reflected in inequalities in income, in wealth and inequality in opportunities. Inequality can be observed and analysed as inequalities between European countries, which is most often measured by realized national income, and inequalities within European countries, which is most often measured by the Gini coefficient and the S80/S20 ratio. Inequality among the population can also be measured by various indicators that show the socioeconomic status of the individual. Many previous studies have tried to determine the connection between inequality and achieved national economic results, but also the connection between different indicators of inequality, poverty and the social status of the individual. The previous research on the relationship between inequality and economic growth shows contradictory results depending on the research settings. Depending on the research conditions, past studies on the connection between inequality and economic growth have produced inconsistent findings. Inequality, poverty, unemployment, and (lack of) education, particularly among young people, are examined in this article in order to determine how they impact economic growth in the European Union. Multiple regression and bivariate correlation are used in the methodology. In four models, multiple regression analyses were carried out. The panel sample includes the years 2010 through 2019 and includes 27 European Union nations. The findings indicate a weak correlation between the rise in persistent risk of poverty and the acceleration of economic growth in the member states of the European Union, which partially confirms the research's central hypothesis. The ratio of S80/S20 (population under 65 years old) between the total income received by the quintile of the population with the highest income and the quintile of the population with the lowest income has a significant beneficial impact on the economic growth of European Union countries. But reducing the S80/S20 ratio for the population over 65 increases GDP growth. Also, reduction of percentage of young people not in employment and not in education results growth increase. However, the possibility of this relationship being bidirectional makes it impossible to make any conclusions about its causality. So, conditionally speaking, greater inequality in the income of the population under the age of 65 leads to an increase in GDP with a simultaneous decrease in unemployed young people without education.