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2 clusters · 6 sources · 4 days · First seen · Last updated

South Korea labor market shifts

Overview

South Korea is experiencing significant fluctuations in its non-regular workforce. In August, the number of non-regular workers reached a record high of 8.67 million, representing 38.5% of all wage earners. This growth was largely driven by the elderly population, particularly in the health and social welfare sectors. During this period, the wage gap between regular and non-regular employees widened to a record 1.94 million won per month, with non-regular wages falling to 52.1% of regular wage levels.

However, subsequent data for the third quarter indicates a decline in specific segments of the precarious workforce. The number of temporary and daily workers fell to 5.727 million, the lowest third-quarter level since 1995. This contraction was primarily driven by downturns in the construction and domestic consumption sectors, with daily workers reaching a record low for the third quarter. These losses have heavily impacted middle-aged workers and those aged 60 and older, raising concerns regarding income inequality and poverty.

Entities

National Data Agency · South Korea

Timeline

  1. [BUSINESS] 2 sources
    South Korea temporary and daily workers hit 31-year low

    South Korea's temporary and daily worker count hit a 31-year low in Q3, driven by construction and domestic sector slumps, heavily impacting middle-aged workers.

  2. [BUSINESS] 5 sources
    South Korea non-regular workers reach record 8.67 million

    South Korea's non-regular workforce hit a record 8.67 million in August, with the monthly wage gap between regular and non-regular workers widening to 1.94 million won.

Sources

biz.heraldcorp.com · dailymagazine.co.kr · english.hani.co.kr · h21.hani.co.kr · m.imaeil.com · seoul.co.kr