You're reading: Japan population to shrink by one-third by 2060

TOKYO (AP) — Japan says its population of 128 million will shrink by one-third by 2060 and seniors will account for 40 percent of the total as the country continues to age rapidly.

A new population estimate released Monday by the Health and Welfare Ministry shows that Japan will have 87 million people in less than 50 years.

The number of people 65 or older will nearly double to 40 percent. The national work force of people between ages 15 and 64 will shrink to about half of the total population.

The estimate paints a grim future, with a shrinking number of young people bearing the burden of supporting the social security and tax systems.