One in five people in Japan are over 70

New estimates put the number of people in Japan age 70 or older at more than a fifth of the population for the first time.

Japan’s population is one of the fastest-aging and declining in the world. The working-age population fell by 4.6 million from 2012-2017, from 80.6 million to 76 million.

There have been some emergency measures to raise the retirement age and bring more women into the workforce. The Japanese government has approved plans for raising the optional age for drawing public pensions to 71 or older. Japan said they would finalize the plans as part of a set of legal changes after April 2020.

Japan’s overall population is predicted to shrink to 88 million by 2060. The number of working age 18-65 is set to shrink to less than 50 million.

Between 2015 and 2020, Japan’s workforce is shrinking by 3.3 million (4%).

From 2020 to 2030, Japan’s working-age population (ages 20-64) will fall by around 4.8 million to 5.6 million.