Japan's Aging Population Reaches Record High: 36.25 Million Over 65 in 2024
Japan is facing a significant demographic shift, with projections indicating that approximately 36.25 million citizens will be aged 65 and over by 2024. This figure represents 29.3% of the total population, marking a new record according to data released by the Ministry of Internal Affairs and Communications. This trend reflects a broader aging phenomenon affecting many developed nations, but Japan stands out as the country with the highest percentage of elderly citizens.
In contrast to previous years, Japan's population has seen a notable decline, with a decrease of 595,000 residents from 2022 to 2023, bringing the total to 124 million. This decline follows a staggering reduction of 800,500 in 2022, which was the largest drop since 1968, highlighting the urgent need for policy changes to address the implications of an aging society.
The rise in the elderly population poses significant challenges, particularly concerning medical and social costs, as well as a shrinking workforce. As the number of older individuals increases, concerns mount regarding the sustainability of the pension system, which relies on the contributions of working-age citizens. Currently, one in seven workers is aged 65 or older, indicating a growing reliance on a diminishing pool of younger workers.
Additionally, the labor market is adapting to these demographic changes, with a record 9.14 million elderly individuals, or 13.5% of the elderly population, actively participating in the workforce as of 2023. This trend suggests that older generations are increasingly contributing to the economy, albeit in a context where their numbers are rapidly growing compared to younger workers.
Japan is not alone in facing these demographic challenges. Other Asian countries, such as China, are also experiencing population declines. The National Bureau of Statistics reported that China's population decreased by 2.08 million from the end of 2022, highlighting a regional trend that could have far-reaching economic implications.
