One In 10 Japanese Now Aged Over 80, Population Report Shows

(Bloomberg) -- The over-80s for the first time accounted for more than 10% of Japan’s population, according to a government report issued to mark the annual Respect for the Aged Day. 

Japan’s persistently low birthrate and long lifespans have made it the oldest country in the world in terms of the proportion of people aged over 65, which this year hit a record of 29.1%.

Ballooning social security spending has added to Japan’s massive debt and the shortage of young people has left many industries short of labor — not least carers for the elderly. Prime Minister Fumio Kishida has said the country risks losing its ability to function if it does not take radical measures.  

Japan’s steps to bolster the birthrate haven’t been successful, while authorities have been hesitant to accept large numbers of migrant workers to make up the shortfall. Last year, the number of babies born fell to less than 800,000 for the first time since records began in the 19th century.  

Similar problems with aging and shrinking populations are spreading across other parts of Asia, with South Korea expected to take over as the world’s grayest nation in the coming decades. China’s population began to shrink in 2022 for the first time in 60 years.  

Japan’s overall population fell by about half a million to 124.4 million, according to the report. It’s expected to tumble to less than 109 million by 2045. 

--With assistance from Marika Katanuma.

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