According to the estimation of the Ministry of Internal Affairs and Communications, the number of elderly people aged 65 accounts for 29.1% of the total population (as of September 15, 2021). Based on a United Nations survey, Japan has the highest ageing rate followed by Italy (23.6%) and Portugal (23.1%). The National Institute of Population and Social Security Research of japan estimates that the proportion of the total population of 65 years and older will be 30% in 2025, and 35.3% in 2040 when the second baby boom generation (born 1971-74) will turn to be 65 years and older.
Elderlies in the workforce as employees in 2020 was 9.06 million, that is 25.1% of the elderlies and 13.6% of the total number of employees aged 15 and over, that is the highest ever since 1968. The Japanese government is trying to secure employment opportunities for elderly people, with the aim of countering labor shortages due to population decline and increasing the number of “supporters” of social security. For this purpose, the Elderly Persons Employment Stabilization Law was revised and came into effect in April 2021.