The average growth rate for the next decade or two is defined by the potential growth rate, which can be broken down into the rate of growth in the number of workers and that in the real GDP per worker – in other words, the labor productivity growth rate.
The number of workers declined at a rate of –0.2 percent in the 2000s, and it is estimated that there will be an acceleration in the pace of decline to –0.6 percent in the 2010s and –0.8 percent in the 2020s, given the present labor participation rates by gender and generation (Chart 15).