Japan’s Aging Population Surpasses 10%, Posing Challenges for the Government and Economy

More than 10% of Japan’s population is now 80 or older, according to figures released by the Ministry of Internal Affairs and Communications. The country is facing a demographic crisis with the highest proportion of elderly people in the world, at 29.1% of the population. This milestone comes as Japan also deals with a plummeting birth rate and a reduction in the active population, which could impact the financing of pensions and healthcare. Japan’s population has continued to decline since the 1980s, with a fertility rate well below what is needed to maintain a stable population. The country’s high life expectancy contributes to the increase in the elderly population. In order to address labor shortages and revitalize the economy, the government has encouraged more seniors and stay-at-home mothers to reenter the workforce. However, even with these efforts, the social and economic repercussions of the demographic crisis persist. The Prime Minister warns that Japan is on the verge of not being able to maintain social functions, and emphasizes the need for support for parenting. Other countries in the region, including China, South Korea, Singapore, and Taiwan, are also dealing with similar crises.