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Japan’s ageing workforce highlights strain on labor and public finances
Japan’s internal affairs ministry data released ahead of Respect for the Aged Day shows people aged 65 and older now account for a record 29.6% of the population.
The article highlights that 9.43 million Japanese workers were 65 or older last year, equivalent to about 13.8% of everyone with a job, underscoring that many older people are still working rather than fully retired.
It notes that an Asia-Pacific regional conference on population ageing is scheduled to be held in Hangzhou, China later this month, with organizers including HelpAge International, the UN Population Fund, and the China National Committee on Ageing saying ageing is reshaping labor markets and public finances across the region.
In an opinion component, SCMP Economy also argues that the impact of ageing extends beyond government statistics, pointing to the experience of the author, who describes building companies across three countries before a health crisis led them to focus on prevention.