SEOUL, KOREA - The number of daily hires has fallen to a record-low level in 26 years. That's largely because more and more workers with higher educational attainment joined the labor market and the number of jobs in the areas of agriculture and construction is steadily in decline due to sea change in the industrial structure, which in all reduced the number of those relying on daily pay.
According to the National Statistical Office on November 19, the number of daily-based employees was 1,602,000 as of the end of October this year. This is the lowest level since 1988 when the figure hit the bottom at 1,509,000. The number has fluctuated since then but it was overall in an increasing trend from 1,256,000 in 1982 to 1,883,000 in 1990 and 2,405,000 in 2000.
Since hitting the peak in 2002 at 2,503,000, it has dropped slowly to 2,224,000 in 2005 and 1,809,000 in 2010. In 2008, the number fell by 61,000 from the previous year. In the following year, however, the number dropped by 250,000 in the aftermath of the global financial crisis. Since that time on, the number has been in decline for seven consecutive years.
The ratio of daily hires in total number of those in gainful employment has also been in decline. During the period between 1999 and 2002, about 10 percent of workers were hired based on day-by-day contract. But the latest three years (2011-2014) saw the figure plunge to the 6-percent level.
Article provided by The Korea Economic Daily
