Japanese economy suffers $4 billion in losses annually due to suicides

Japanese economy suffers $4 billion in losses annually due to suicides


Japanese economy is suffering from a loss of $4 billion each year due to suicides according to the national broadcaster NHK.

The calculation is based on the supposed earnings of the 23,000 suicide victims in 2015 if they had worked until they were 70 years old. The suicide victims ranged from 15 to 69 years old. Japan has been facing more than 30,000 cases of suicides annually since 1998 according to the data provided by the Japanese ministry of Health, Labor and Welfare.

The three major causes of suicide among men have been due to health or financial crisis and domestic issues.

For the first time in the past 22 years the number of suicide cases dropped below 22,000 last year when 6,800 women and 15,000 men committed suicide.

Japan is among the countries which have the highest life expectancy at 83.3 years, however, it also has the highest suicide rate. Wharton University did a research and concluded that most suicides resulted from challenging economic conditions, family problems, addiction, unemployment, depression and inadequate access to mental health care.

The research paper from Wharton University said: “Suicides at a young age have a major impact on the economy. Families and governments spend vast amounts on the education of children and young adults but do not reap the rewards of that investment since the young adults who commit suicide do not have many productive years”.

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