side note, I'm old enough that "Eurosclerosis" (insider/outsider labor markets, high youth unemployment) was a regular part of macro discourse when I was in college & grad school.
would love to see an informed comparison of that period to the 2025-vintage US
It's unfortunately very normal for youngsters to experience deteriorating labor market outcomes relative to prime working age folks when the labor market starts cooling... even prior to any recession.
Not unique to 2023-25.
(Also, this is not a recession forecast.)
