• Japan's population decreased by 898,000 people to 120.3 million as of October 2024.
• Birth rate remains critically low at 1.2 births per woman, far below replacement levels.
• The country faces a 14th consecutive year of population decline, marking the steepest drop since 1950.
• Government initiatives include wage rises and child-rearing assistance to combat the demographic crisis.
• Japan plans to ease immigration rules to fill labor shortages exacerbated by the declining population.

According to recent data from the internal affairs ministry, Japan's population has shrunk by 898,000 people over the past year, bringing the total down to 120.3 million as of October 2024. This marks the largest decline since records began in 1950, reflecting the nation's ongoing struggle with low birth rates, which currently stand at 1.2 births per woman, well below the replacement rate of 2.1 necessary to sustain the population, reports South China Morning Post.

The overall population decline includes a 550,000 decrease when accounting for foreigners, emphasizing Japan's chronic demographic crisis as it experiences its 14th consecutive year of population reduction. The working-age population, those between 15 and 64 years old, has also diminished, indicating serious implications for the economy and labor market, according to Channel News Asia.

Japan's changing social values and economic conditions are contributing factors to these declining trends. Young individuals are postponing marriage and childbearing due to concerns over job security and the rising cost of living. Chief Cabinet Secretary Yoshimasa Hayashi noted that the government is aware of these challenges and is working on measures to support families who wish to have children, as quoted in The Jakarta Post.

The government has launched various initiatives aimed at addressing this crisis, including efforts to raise wages for younger workers and assist with child-rearing. Hayashi emphasized a need for "comprehensive measures" to ensure that those who desire children can raise them in a supportive environment, reflecting a government commitment to reversing these demographic trends, according to Newsweek.

In an attempt to mitigate the labor shortage resulting from population decline, Japan has begun considering reforms to its immigration policies. The government aims to triple its foreign workforce by 2040, allowing foreign workers longer stays and the ability to bring their families, which may provide some relief to the economic pressure posed by an aging population, according to South China Morning Post.