The total number of babies born in Japan could drop below 800,000 this year, a government official said, indicating a “critical situation” that will necessitate comprehensive measures from the government.
Japan recorded 599,000 births in the first three quarters of 2022, including births to foreign nationals, according to preliminary data from the Ministry of Health, Labor and Welfare.
Matsuno said the government would take comprehensive measures to promote marriage and increase birth rates, including fostering an environment in which parents can balance work and childcare and offering financial aid.
Japan has one of the fastest aging populations on earth, and the country’s closed borders over the course of the COVID-19 pandemic have hastened the shrinkage of its workforce.
The nation’s population, which currently stood at 125 million, is forecast to fall to about 102 million by 2050, according to Japan’s Statistics Bureau.
According to the ASEAN+3 Macroeconomic Research Office (AMRO), Japan’s working-age population dropped from 87 million in 1993 to 75.3 million in 2018, resulting in a severe labor shortage in the country’s economy.
“This not only hurts a country’s growth potential but also affects negatively Japan’s fiscal sustainability due to increases in social expenditure such as higher pension and healthcare spending,” the report reads.
South Korea Records World’s Lowest Fertility Rate
Aside from Japan, South Korea also struggles with a declining birth rate, with 192,223 babies born between January and September—a 5.2 percent decrease from the previous year—according to government data.The country had the lowest fertility rate when compared to other Organization for Economic Cooperation and Development (OECD) member nations. The average fertility rate across all OECD nations is 1.59 as of 2020.