THE GLOBAL BABY BUST HAS HIT JAPAN, BUT IT’S GOING TO HIT PRETTY MUCH EVERYWHERE: Record low number of Japanese reach adulthood as demographic woes deepen.
A record low number of Japanese citizens turned 20 last year as the country’s workforce dwindles and a generation that grew up with tepid growth, low inflation and a zero interest rate policy reached official adulthood.
The latest government figures showed the number of Japanese who were aged 20 on January 1 2022 had fallen 40,000 from the previous year to about 1.2m, the lowest since the survey began in 1968.
The decline reflects Japan’s persistent inability to reverse the falling number of births. The birth rate stood at 1.34 children per woman of childbearing age in 2020, with just 840,000 babies born in Japan that year.
The country’s population dropped to 126.6m by the start of last year, a continuation of a steady decline since its 2008 peak of almost 128m.
The fall-off in 20-year-olds has reduced the country’s “new adult” cohort to just 0.96 per cent and cast a shadow over Monday’s “Coming of Age Day”. The national holiday is marked by ceremonies to welcome the 20-year-olds to the joys and responsibilities of adulthood.
“I am looking forward to the ceremony . . . [but] I’m not sure if I can really be too excited about becoming an adult,” said Rina, who was renting a kimono for the occasion in Tokyo’s Shibuya district. “Japan seems to have a lot of problems that never get solved and I guess they are my problems now.”
It was little comfort, she added, that the number of Japanese reaching official adulthood this year would increase as the legal age of majority — allowing people to buy a mobile phone and apply for loans without parental consent — is lowered for the first time in 140 years, from 20 to 18.
Studies of young Japanese attitudes towards work and business suggest that the country’s relentless demographic woes have nurtured a desire for stability above all else. A number of 20-year-olds told the Financial Times that their central ambition was to join a company and avoid risk. Starting a business represented a terrifying leap into the unknown, said several.
A rising generation few in numbers and short of moxie is not a good thing.
Plus: “Yuki Murohashi, representative director of the lobbying group Japan Youth Conference, said that, above all, the mood among Japan’s youngest adults was one of low-level despair.”