The labor force participation rate of women in Japan has risen markedly and has not only already exceeded that in the United States but is close to the level of the top members of the Group of Seven (G7) countries.
Moreover, while the labor force participation rate of seniors has also risen, the baby boomer generation will eventually pass the age of 75, and the labor force participation rate for those aged 75 and over is  2  For details of differences in wage formation across firm sizes and industries in the labor market for full-time employees, see Bank of Japan, "'Korona-ka ni okeru bukka dōkō o meguru shomondai' ni kansuru wākushoppu dai 3-kai 'wagakuni no chingin keisei mekanizumu' no moyō," BOJ Reports and Research Papers, December 2022, https://www.boj.or.jp/research/brp/ron_2022/ron221223a .htm/ (currently available only in Japanese).