At the same time, Japan’s labor market structure changed, with the number of workers in manufacturing industries falling since the mid-1990s, while that in service industries has been rising, so that  BIS central bankers’ speeches  5  service industries now account for 30 percent of workers in all industries.
In particular, along with the aging of the population, there has been a notable increase in demand for services for the elderly, such as in the areas of healthcare and nursing care. This trend is expected to continue.