Aging population in Japan

As the Birth rate of Japan falls below the replacement rate massively of 2.1 in 1970 to an even lower rate of 1.26 in 2005.  There is never a proper recovery of the population loss by the 1st world war. And as in 2005, Japan’s population began to fall in absolute terms, in about a total population of 95 million, more than one-fifth are elderlies. The population pyramid transformed from a “Tree shaped” to a “Kite”.

“The reasons for the aging of the population of Japan are many: as already mentioned, Japanese people maintain the longest life expectancy in the world6 as well as one of the lowest fertility rates.7 In addition, Japan has a very high suicide rate, particularly among men,8 with suicide being the leading cause of death for people aged 15-39.9.”

“One of the primary issues that come with an aging population is the ratio of retiring

workers to new hires. As people age, they eventually retire and leave the workforce, and there are currently not enough young people in Japan to fill all of the necessary jobs left by these retirees. This means that some of Japan’s biggest industries—such as motor vehicles and electronics—don’t have the manpower to continue at the current rate of production. If Japan cannot maintain its current levels of production, it could lose its spot as the third largest economy in the world10 and a leader in cutting-edge technology. Such a hit would be devastating not only for the Japanese economy but for the morale of the Japanese people.”

 

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