Based on official Japanese government statistics, as of October 2023, Japan's population was approximately 124.34 million.
This figure represents a 0.4% decrease compared to October 2022, and a 2.3% decrease compared to ten years prior.
Along with its shrinking population, Japan's current demographics are dominated by older people.
In October 2023, the combined population of elderly Japanese (aged 65-100 and above) reached 36.2 million, equivalent to 29.1% of the total population.
During the same period, the combined population of working-age Japanese (aged 15-64) reached 73.9 million, equivalent to 59.5% of the total population.
However, a closer look reveals that the working-age population is also dominated by older individuals, specifically those aged 50-54 and 45-49.
Conversely, the number of younger working-age individuals (under 40) is significantly smaller, as shown in the graph.
Furthermore, the number of Japanese infants (0-4 years), children (5-9 years), and early adolescents (10-14 years) is considerably smaller compared to other age groups.
Japan's aging population poses a potential burden on its economy.
This was stated by the World Economic Forum (WEF) team in their report titled "More than 1 in 10 people in Japan are aged 80 or over."
"Japan is already facing a labor shortage. In 2022, almost half of Japanese companies relied on workers over 70 years old," the WEF team stated in their report (September 28, 2023).
"Japan's birth rate also reached a record low in 2022. This is a ticking time bomb for Japan's social security system, which is struggling to meet pension costs with fewer tax-paying workers," they continued.