Income Inequality Widening among Japanese Aged 25-34: Govt Report

Economy

Tokyo, Feb. 7 (Jiji Press)--Income inequality is widening among young Japanese people aged between 25 and 34, with more young couples earning less than 5 million yen a year going childless, a government reported showed Monday.

The Cabinet Office's report comes as Prime Minister Fumio Kishida pursues a virtuous cycle of economic growth and wealth distribution.

The report measured income inequality in age groups between 20 and 59 from 2002 to 2017, using the Gini coefficient. Income gaps were found to have widened among people aged 25-29 and 30-34 and to have shrunk in other age groups.

"The proportion of nonregular workers among young men increased and their working hours dropped," the report said, explaining the reason for the greater inequality.

The report also looked at household incomes for people aged 25-34. Of married couples raising at least one child, those with annual incomes between 4 million and 4.99 million yen represented 9.8 pct in 2019, down from 13.2 pct in 2014, and those with incomes between 3 million and 3.99 million yen accounted for 5.2 pct, down from 10.4 pct.

[Copyright The Jiji Press, Ltd.]

Jiji Press