As of June 2024, Japan's population is approximately *123.89 million, marking a decline of about **2.17%* since 2014. This decreasing trend has been ongoing for over a decade and is influenced by several factors:
1. *Low Birth Rates: Japan's fertility rate stands at **1.20 children per woman*, significantly below the replacement level of 2.1. This low birth rate contributes to the overall population decline.
2. *Aging Demographic: Approximately **28.7%* of the population is aged 65 or older. This aging trend places additional strain on the country's resources, as a larger proportion of elderly citizens requires more healthcare and social services.
3. *Labor Shortages*: The declining population leads to labor shortages across various sectors, impacting economic productivity and growth. With fewer young people entering the workforce, many industries are struggling to find sufficient labor.
4. *Increased Pressure on Social Services*: As the proportion of elderly citizens continues to rise, the government faces significant challenges in providing adequate social services, including healthcare and pensions, necessitating reforms and increased funding