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Elderly workforce participation key to boosting consumption in Japan, says report

Participation in the labor force by elderly people will most likely boost consumption in Japan, the government said in a report released last week.

Of households headed by people aged 60 or older, the consumption levels in those led by nonworking individuals are lower than those led by people who work, according to the report from the Cabinet Office.

The report noted that consumption spending by elderly households accounts for about 50 percent of related overall spending in Japan, reflecting the rapid aging of the country’s society.