President Xi Jinping has called on Chinese officials to find solutions to the country’s protracted unemployment problems, with the growing number of jobless young people becoming a formidable challenge for Beijing.

On Friday, the Communist Party theoretical journal Qiushi published an article repeating Xi’s speech at a Politburo study session earlier this year, in which he called for “high-quality, full employment,” saying that the Job creation remains a top priority.

“The unemployment rate may become a more important policy target,” said Zhang Zhiwei, president and chief economist of Pinpoint Asset Management. “I think (this problem) makes it more likely that the budget deficit will exceed 3 percent next year.”

The article shows that unemployment is a concern, he said, adding that the government is likely to introduce policies to address it over the next year.

In the article, Xi points out that China’s development faces risks and “an increase in unpredictable factors”, making the stability of the economy and labor market more urgent.

11:37 a.m.

Why disaffected young Chinese workers identify with this pink beaver from South Korea

Why disaffected young Chinese workers identify with this pink beaver from South Korea