On November 21, the Ministry of Education announced the number of national master's degree candidates for 2025. According to statistics, the number of applicants for master's degrees nationwide in 2025 is 3.88 million, a decrease of 0.5 million from 4.38 million in 2024, and a decrease of 0.86 million from 2023. This marks two consecutive years of decline in graduate entrance exam applicants. Xiong Bingqi, president of the 21century edu Research Institute, stated that while the issue of 'rolling education' still exists, its cost-effectiveness is rapidly diminishing. 'The employment situation for graduates is not better than that of undergraduates. The value of a master's degree is decreasing, with 'high degrees and low employment,' forcing college students to no longer regard the graduate entrance exam as a safe harbor for employment. Cultivating one's core employment competitiveness is more important than just holding a high degree.' (Jiu Pai News)