Japan population: One in 10 people now aged 80 or older

According to figures released by the Ministry of Internal Affairs and Communications, the proportion of elderly people aged 65 and over, as defined in Japan, is at a record high.

This group makes up 29.1% of the population, which is the highest rate in the world.

The Ministry also highlighted reports of rapidly declining birth rates and a shrinking workforce, drawing attention to the rates that could affect financing for retirement and healthcare services.

Japan's population has been steadily declining since the economic boom of the 1980s, with a fertility rate of 1.3.

This rate is significantly below the 2.1 needed to maintain a stable population in an environment without immigration.

For over a decade, deaths have been surpassing births in Japan, posing a growing issue for the leaders of the world's third-largest economy.

The country also has one of the highest life expectancies in the world, contributing to the rapid increase in the elderly population.

In hopes of addressing the growing labor shortage and reviving a stagnant economy, the Japanese government has encouraged more elderly individuals to rejoin the workforce over the past decade.

Japan currently has a record number (9.12 million) of elderly workers, and this number has increased for 19 consecutive years.

The Ministry of Internal Affairs stated in its announcement that workers aged 65 and over now account for more than 13% of the national workforce.

The report noted that Japan's elderly employment rate is among the highest among major economies.