The baby boom came in 1947-1949, when 2.7m children a year were born. In 2007 the baby-boom generation began to retire (60 is the mandatory retirement age at most companies). Japan's birth rate fell below the replacement rate of 2.1 in the early 1970s. It slid to a low of 1.26 in 2005. In 2005 the population began to fall in absolute terms, despite increasing life expectancy. It is now shrinking at a pace unprecedented for any nation in peacetime. The National Institute of Population and Social Security Research estimates a total population of 95m by 2050, compared to 127m in 2007, with the elderly accounting by then for two-fifths of the total.<ref> "Japan's changing demography: Cloud, or silver linings?" ''Economist'' (Jul 26th 2007) at [http://www.economist.com/world/displaystory.cfm?story_id=9539825].</ref> | The baby boom came in 1947-1949, when 2.7m children a year were born. In 2007 the baby-boom generation began to retire (60 is the mandatory retirement age at most companies). Japan's birth rate fell below the replacement rate of 2.1 in the early 1970s. It slid to a low of 1.26 in 2005. In 2005 the population began to fall in absolute terms, despite increasing life expectancy. It is now shrinking at a pace unprecedented for any nation in peacetime. The National Institute of Population and Social Security Research estimates a total population of 95m by 2050, compared to 127m in 2007, with the elderly accounting by then for two-fifths of the total.<ref> "Japan's changing demography: Cloud, or silver linings?" ''Economist'' (Jul 26th 2007) at [http://www.economist.com/world/displaystory.cfm?story_id=9539825].</ref> |