The Cabinet of Prime Minister Shinzo Abe approved Friday a suite of labor reforms designed to solve Japan's demographic challenges while creating conditions to promote job growth, particularly for those struggling to find stable work.

Under the annual economic policy blueprint, the government wants to see 300,000 new jobs created over the next three years for people in their mid-30s to mid-40s who have had difficulty finding stable employment.

The government hopes to help around 1 million people who graduated from high school and university between 1993 and 2004, collectively called the "employment ice age generation" because they began searching for work following the end of Japan's economic boom.