Japan’s population of 128 million will shrink by one-third and seniors will account for 40 per cent of people by 2060, placing a greater burden on a smaller working-age population to support the social security and tax systems.
The grim estimate of how rapid aging will shrink Japan’s population was released by the Health and Welfare Ministry.
In year 2060, Japan will have 87 million people. The number of people 65 or older will nearly double to 40 per cent, while the national work force of people between ages 15 and 65 will shrink to about half of the total population, according to the estimate, made by the National Institute of Population and Social Security Research.
The total fertility rate, or the expected number of children born per woman during lifetime, in 2060 is estimated at 1.35, down from 1.39 in 2010 – well below more than 2 needed to keep the country’s population from declining. But the average Japanese will continue to live longer. The average life expectancy for 2060 is projected at 90.93 for women, up from 86.39 in 2010, and 84.19 years for men, up from 79.64 years.