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Fresh graduates’ job market perception worsened by 23% in 2025 – ECB

Research points to slowing growth in knowledge-intensive services to explain otherwise ‘cyclical’ effect

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University-educated, unemployed young workers found the job market to be 23% worse in 2025 compared to 2024, new research published on August 6 from the European Central Bank shows.

The paper’s authors, David Chaloupka and António Dias da Silva, attempt to explain the phenomenon and find that all university-educated non-employed respondents to a 2025 consumer expectations survey said it was a worse time to look for a job then compared to a year prior.

But the effect is far more pronounced among

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