Aging Japan to See 25% of Breadwinners Turn 75 or Older by 2040

https://www.bloomberg.com/news/articles/2019-04-20/aging-japan-to-see-25-of-breadwinners-turn-75-or-older-by-2040

A woman carries grocery bags while walking past buildings in Tokyo.

Photographer: Noriko Hayashi/Bloomberg

Japan’s rapidly-aging society will see a quarter of its breadwinners turn 75 or older by 2040, the Nikkei reported, citing a study from the National Institute of Population and Social Security Research.

The total number of head-of-households who are 75 years of age or more will mount to 12.17 million by that year, while the number of single-person households will climb to 19.94 million, or two-fifths of the total, the report said. The number of people living alone who are 75 or older will top 5 million, it said.

As the number of elderly Japanese people living by themselves increase, the country is increasingly in need of a revamp of its social security system and relevant infrastructure, the report said.

Japan’s government has been opening the
door
to more low-skilled foreign workers as the rapidly aging population fuels a labor shortage. With unemployment at just 2.3 percent, near the lowest since the early 1990s, labor shortages are being
felt
in a range of industries from convenience stores to construction before the Tokyo Olympics next year.

Original Source

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