SUMMARY
- Youth unemployment in urban China rises sharply to 21%.
- Strict lockdown measures impact youth recovery, says UC Berkeley sociologist.
- Investor confidence wanes amidst China's post-pandemic economic challenges.
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China is at a crossroads. From real estate woes to semiconductor bans and a fluctuating labor market, it's a whirlwind of challenges for the global powerhouse.
Topping this list? A striking spike in youth unemployment. Recent statistics show China's urban youth unemployment rate has shot up to 21% as of May 2023, a significant increase from 15.4% just two years ago.
Fang Xu, a renowned urban sociologist from the University of California, Berkeley, points out the profound impact of the stringent lockdown measures, emphasizing that the youth are grappling to bounce back.
As the world watches, this hiccup in China's post-Covid recovery journey has investors treading lightly, especially given the turmoil in its property sector.
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