Jobless rate to be 'last straw' for policy direction

Analysts believe that a sharp deterioration in the employment situation could be the 'last straw' that forces changes in economic policy, although it's not yet clear what the government's bottom line for growth is this year.

Whether GDP grows 7 percent or 7.5 percent is still a subject of hot dispute. One is the point at which the jobless rate may surge out of control. The other is the government's full-year target.

The second quarter's weaker-than-expected GDP figure of 7.5 percent, the lowest level in a year, was a sign of slowing momentum that could narrow the safety margins of the world's second-economy against shocks.