Summary of Japan faces labor shortages and demographic crisis as elderly population hits record high
Summary of Japan faces labor shortages and demographic crisis as elderly population hits record high
Japan is facing a significant demographic challenge with a rapidly aging population and a declining workforce. The country's labor shortages are exacerbated by a lack of full-time employees, particularly in labor-intensive industries. To address this, Japan is increasingly turning to immigration to supplement its workforce, aiming to add millions of foreign-born workers in the coming years. However, experts emphasize the need for improved productivity, investment in new technologies like AI and automation, as well as societal and structural changes to sustain economic growth in the long term.
quoting nevent1q…53vaJapan faces labor shortages and demographic crisis as elderly population hits record high
Japan's number of people aged 65 and over has reached a record high, cementing it as the worlds most elderly country, according to government statistics.
https://www.cnbc.com/2024/09/18/japan-faces-demographic-crisis-as-elderly-count-hits-record-high-.html
Japan is facing a significant demographic challenge with a rapidly aging population and a declining workforce. The country's labor shortages are exacerbated by a lack of full-time employees, particularly in labor-intensive industries. To address this, Japan is increasingly turning to immigration to supplement its workforce, aiming to add millions of foreign-born workers in the coming years. However, experts emphasize the need for improved productivity, investment in new technologies like AI and automation, as well as societal and structural changes to sustain economic growth in the long term.