Only 28.2% of parents in Japan say they want a second child amid the current cost of living pressures, according to a survey. The research, published by the insurance firm Meiji Yasuda Life on Monday, found that there was an almost 57% drop in the number of parents wanting a second child compared with 2020, with most people saying that financial concerns were to blame. Couples with one child between the ages of 0 and 6 were approached for their views concerning parenthood in September.
Meiji Yasuda Life has been carrying out the surveys since 2018, but this month’s findings have hit an all-time low. The firm’s economist Kazutaka Maeda highlighted that rather than a waning desire for parents to have a second child, families are finding it difficult to do so in the current economic climate. He added that even for single-child families, most parents would want two children if their finances allowed it.
The data comes as the recorded number of births in Japan reached a new low this year, albeit a slightly less severe decline than in previous years, according to the latest health ministry data. Among parents who answered that they did not want a second child in the survey, 54.5% said it was because they had concerns about their future income — a 9% increase compared to the same study last year. When asked if they would change their mind in better economic circumstances, almost 70% of parents said they would.
In particular, couples suggested a higher joint income as well as a more stable inflation rate — currently about 2% — would help ease their concerns about having a second child. The costs of raising a child, including food, extracurriculars and nursery schooling, has become more of a burden for families as a result of higher inflation, according to the findings. The firm calculated that the average monthly costs for raising children was now around ¥43,000 ($271), which it said was a new record high.
Parents also shared how they have been cutting costs, including spending less on leisure activities and travel in order to try to save money. Responding to the study, Maeda said “it is crucial to create an environment that helps families overcome the second-child barrier,” and advised enrolling both children in the same childcare facility as well as flexible work arrangements, such as remote work.
Extract — continue reading at the source.
