Urgent.. Find out the reason for the increase in suicide cases in Japan
Due to the worsening debt in Japan, there is a significant increase in the number of residents who commit suicide due to economic difficulties., As a growing number of Japanese people are overwhelmed by personal debt, because high interest rates and the increase in the cost of living are hurting With the standard of living, salaries in Japan are among the lowest among the G7 countries, and the central bank raises credit rates while lowering them in other countries.
In 2014, 2023 – Average household debt has risen to 6.55 million yen ($42,000 USD), with most of the debt coming from higher interest rates of 14% to 16% per year.
People are borrowing more in some of the world’s largest economies, such as The USA is an example, but low salaries in Japan make the problem particularly acute. The average salary in Japan was about $47,000 in 2023 — a significant lag behind the U.S.’s $80,000.
More than 70,000 people filed for personal bankruptcy in 2023, according to a government report
A lawyer at a Tokyo law firm that deals with bankruptcy cases said that court data for the period from January to October 2024 indicates The number may reach 75,000 to 80,000 people.
Reports indicate that debt problems caused by multiple loans are the main reason, which has pushed more people to commit suicide, with the suicide rate jumping to 792 in 2017. 2023 alone.
The last time this number reached this high was in 2012, after the government took strict measures against private loans, which led to the closure of thousands of lenders’ funds, suffocating Credit.
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