One in 10 now 80 or older as Japan’s economy creaks

Data released on Sunday found population at 65 or older had expanded to a record 29.1 per cent from 29 per cent a year ago.

Elderly people play mahjong at a care home in Tokyo. Picture: Bloomberg

More than 10 per cent of Japanese people are, for the first time, 80 years or older, new official data showed, as the nation faces a rapidly greying population.

Government data released on Sunday, ahead of Monday’s Respect for Aged Day national holiday, also showed the share of Japan’s population at 65 or older expanded to a record 29.1 per cent from 29 per cent a year ago.

The level compared with second-ranked Italy’s 24.5 per cent and third-ranked Finland’s 23.6 per cent, according to the Internal Affairs Ministry.

“Japan has the highest percentage of elderly population in the world,” the ministry said.

For decades, Japan has seen its population shrink and grow older as young people delay marriage and children largely due to unstable jobs and economic difficulties.

As a result, Japan has experienced ballooning costs for elderly care with not enough young people to fill jobs and pay for various social and welfare programs.

The ministry said that with the baby boomer population 75 or older, Japan’s 124.4 million people are continuing to grow older. Around 12.59 million people are 80 or older while 20 million are 75 or older, it said.

As a result, Japan is relying on an elderly labour force.

More than nine million elderly are working, accounting for 13.6 per cent of the workforce, or one in seven workers in Japan.

A quarter of all elderly in Japan have jobs, less than South Korea’s 36.2 per cent, but far ahead of other developing countries such as the US at 18.6 per cent, and France at 3.9 per cent.

More than a third of people between 70 to 74 have jobs in Japan, the data showed.

By 2040, Japan’s elderly are projected to account for 34.8 per cent of the population.

AFP