Japan's Population Decline: A Growing Concern

Japan's population has decreased for the 15th consecutive year, losing over half a million people due to aging and low birth rates. Despite a 11% rise in foreign residents, the total population is 124.9 million. Government measures address married couples but not the growing number of unmarried young adults.

New government data released Wednesday shows Japan's population has declined for the 15th consecutive year, with a drop of more than half a million people attributed to an aging population and low birth rates.

Birth rates hit a record low of 730,000 last year, while deaths soared to a record high of 1.58 million. As of January 1, Japan's population stood at 124.9 million.

An 11% increase in foreign residents helped their numbers surpass 3 million for the first time, comprising nearly 3% of the population. These residents are largely of working age, between 15 and 64.

Younger Japanese are increasingly reluctant to marry or have children, discouraged by lackluster job prospects, high living costs, and a gender-biased corporate culture that disproportionately burdens women.

The government has allocated 5.3 trillion yen ($34 billion) in the 2024 budget to incentivize young couples to have more children through increased childcare and education subsidies. Over the next three years, an additional 3.6 trillion yen ($23 billion) is expected to be spent annually in tax money.

Experts indicate that these measures primarily target married couples, neglecting the growing segment of young people who are hesitant to marry.

Projections show Japan's population could fall by about 30% to 87 million by 2070, with four out of every ten people being 65 years or older.

(With inputs from agencies.)