Child Poverty Could Cost Japan $33 Billion

Child poverty could cost Japan $33 billionA Japanese philanthropic organization says a failure to address child poverty in Japan will likely cost the country's economy about 33 billion dollars.
The Nippon Foundation says its estimate focuses on about 180,000 children aged 15 in needy households, such as those with single parents or on welfare.

The group predicted how their job prospects and lifetime earnings could change in 2 scenarios.

One is that the government offers them assistance to go to high schools or colleges. The other is that the government doesn't take any action.

The organization says the government's inaction would reduce the number of regular employees by 9,000 and leave 4,000 unemployed. It notes that this could result in a loss of about 24 billion dollars in their income, compared with when the government took action.

It adds that the government may be forced to shoulder a further financial burden of about 9.2 billion dollars due to a drop in tax and insurance revenues.

The organization stresses the need for the government to take appropriate action, given that child poverty has such a huge impact on the economy.