Japan’s population dropped by a record 898,000 people to 120.3 million as of October 2024, official data showed Monday, marking the largest decline since comparable records began in 1950.

The internal affairs ministry reported that the total population, including foreign nationals, fell to 123.8 million—down 550,000 from the previous year and the 14th consecutive annual decrease.

Japan’s persistently low birth rate has led to a shrinking workforce, fewer consumers, and mounting pressure on businesses to recruit workers. Many young people are delaying marriage and childbirth due to job insecurity and shifting social values.

Chief Cabinet Secretary Yoshimasa Hayashi said the government is working to improve economic conditions for families.

"We understand that the declining birthrate is continuing because many people who wish to raise children are not able to fulfill their wishes," he said during a regular media briefing on Monday. 

He added that the government aims to raise wages and expand child-rearing support to help reverse the trend.

"We will promote comprehensive measures to realise a society where everyone who wishes to have children can have children and raise them with peace of mind," he said.

Japan has also looked to young foreign workers to address labor shortages but continues to enforce strict, temporary immigration policies.