Job seekers read a notice board at a job fair in Seoul on Oct. 19, 2022. (Yonhap)
SEOUL, June 15 (Korea Bizwire) — The annual growth rate of involuntary part-time workers in the past decade has exceeded that of overall wage workers, a private think tank said.
The Korea Economic Research Institute (KERI) analyzed data provided by Statistics Korea, revealing that the number of individuals compelled to work part-time increased by 2.5 percent annually in both 2021 and 2022.
This figure is 1.8 times higher than the yearly growth rate of overall wage workers aged 15 to 64, inclusive of involuntary part-time workers.
Last year, the total number of wage workers reached approximately 19.8 million, reflecting a 15.1 percent increase compared to 2012.
Meanwhile, the number of involuntary part-time workers witnessed a growth of 28.6 percent over the same period.
In terms of age groups, individuals aged 50 and above experienced an average yearly growth of 5 percent in the number of involuntary part-time workers, which was the highest among all age brackets.
A majority (60.8 percent) of involuntary part-time workers required immediate income to cover their living expenses.
Over the past ten years, the proportion of involuntary part-time workers experienced the greatest surge among individuals aged 15 to 29, with an annual increase of 6.6 percent.
“The lack of quality jobs desired by many young South Koreans has resulted in prolonged job-seeking endeavors, leading individuals to work part-time to support themselves in the meantime,” the KERI said.
H. M. Kang (hmkang@koreabizwire.com)
