The number of births in Japan fell to another record low, underscoring the growing challenge of how to shoulder ballooning social security costs for an ageing society with what has already become an ever shrinking pool of taxpaying workers.
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The number of newborns in 2024 fell 5 per cent from the previous year to 720,988, extending a nine-year streak of declines, according to preliminary population data released on Thursday by Japan’s health ministry. The reading marked the lowest tally since such records began in 1899.
Deaths rose 1.8 per cent to a record high 1.62 million for the same period, resulting in the biggest-ever annual decline in total population, the report showed.
The sustained decline in the nation’s births adds to the urgency for a government already bearing the heaviest debt load among developed nations. Japan’s public debt will be 232.7 per cent of gross domestic product this year, according to a report from the International Monetary Fund.
It is also part of a widening global trend. South Korea’s fertility rate edged higher last year for the first time in nine years, but at 0.75 remains well below the rate needed to maintain the population. The drop in births in France accelerated in 2023 to the fastest pace in half a century, while China’s population has declined for three straight years.
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Fewer workers means less tax revenue for government coffers while also pressuring businesses coping with staff shortages.