An increase in the number of PhD candidates in the last decades has changed the landscape of employment and the nature of what it means to be a PhD holder. Embarking on a career in academia is a challenging endeavour for early‐career researchers while they are confronted with a limited number of job opportunities in academia. Taking into account that knowledge based societies need highly skilled professionals beyond the academic environment, it is important to understand what is the role and value of a PhD for the labour market; and what the current labour market perspectives are for PhD holders. To answer these questions, the authors analysed the available data on PhD holders' employment and conducted semi‐structured interviews with European experts on doctoral education and career development. The data and expert interviews point to different contexts across European countries. The numbers of researchers and PhDs employed in sectors outside higher education varies to a great extent—in business enterprises, government, and private non‐profit sectors. The article maps out different factors which need to be considered when assessing the labour market perspectives of PhD holders, such as the geographic area or country and its economic development, the sector of employment, type of work and the field of research.

The EU conducts its external trade policy under close scrutiny by member-states. Yet, what about the role of regional authorities in federal states? To answer, we look at the principal-agent chain of delegation and explore to which extent regions with stakes and competencies in the matter exert control over EU policies. We distinguish three ideal-type roles regions can perform: principals in their own right, members of collective principals, and introduce the new concept of 'transceivers'. A region can perform the role of principal with formal competencies, as does Flanders, which as one of multiple principals can withhold a Belgian decision. A region can also be one of a collective group of principals, as is the case for the region Hesse. Regions can finally perform the role of a 'transceiver' of information from policy-makers to constituencies (and vice versa), akin to the role of endorser, without formal framework for involvementas does Scotland. Since regions and states alike depend on private sector information, two conclusions prevail. First, despite formal competencies, regions that are members of collective principals struggle becoming the sole interlocutor for the private sector. Second, despite lacking competencies, transceiver-regions are crucial interlocutors complementing member-state control over EU trade policy.

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