According to a recent article in the Washington Post, Japan’s Health and Welfare Ministry is projected to decline by about one-third by 2060, and the senior population will baloon to 40 per cent of the overall population. The news report attributes the projected decline to two major factors: a low fertility rate among Japanese women, combined with a long average lifespsan. The media outlet says that Japan’s population is starting to decline at about one million people per year, and its population is declining faster than any other country.
One of the consequences of an aging population is that there are fewer working-age citizens to pay taxes and support the health and infrastructure needs of a greying populace, and one expert told the media outlet that Japan is not prepared for its coming demographic transition.
“Pension programs, employment and labor policy and social security system in this country is not designed to reflect such rapidly progressing population decline or aging,” demography expert Noriko Tsuya was quoted as telling Japanese media.