[N Job Seekers Are Coming] The Nature of Work Changes... "Wait a Moment, I'll Go to the Office Again"

Venture Capital Employee by Day, Translator by Night
Even Full-Time Workers Take Side Jobs Due to Performance Anxiety
1.19 Million Hope to Take Additional Jobs in March
150,000 Increase in One Year
340,000 "Experienced Additional Job Search Within a Month"

Photo by Pixabay

[Sejong=Asia Economy Reporter Moon Chaeseok]

#Yoon Mo (21), who lives in Gyeongnam, works part-time laying communication lines near the KTX railway from 10 p.m. to 6:30 a.m. the next day. He works 8 hours and 30 minutes a day from 10 p.m. to 6:30 a.m., earning 130,000 won per day and works five days a week. When social distancing measures are strengthened due to the spread of COVID-19, there are days he does not go to work. His work does not end there. After finishing the communication line installation part-time job, he takes a short break and then works serving at a restaurant from 12 p.m. to 3 p.m. By doing this 'part-time double job,' he earns about 2 million won a month.

#Shin Mo (30), who works at a startup investment company in Seoul, is a full-time employee working from 9 a.m. to 6 p.m. Monday through Friday. However, he is not satisfied with this and also works part-time translating Spanish books. The income from this side job is about 1 million won per project. Shin said, "These days, people say there is no lifetime job, so I want to secure multiple sources of income in advance and try to do various jobs as much as possible."

The COVID-19 pandemic has led to the spread of 'N-jobbers' who hold two or more jobs. Vulnerable groups facing difficulties due to the economic recession seek additional jobs to increase their income, and even full-time employees are looking for new work due to anxiety about possible layoffs.

On the 16th, Asia Economy analyzed the March employment trend microdata from Statistics Korea and found that last month, among employed people without side jobs, 1,192,000 responded that they hoped for 'additional employment,' an increase of about 150,000 compared to the same period last year. 'Additional employment' means wanting to increase working hours or do other work. This number surged in March last year when COVID-19 began to spread in earnest.

In January and February 2020, the average monthly number of people hoping for additional employment was 802,000, but in March it rose sharply to 1,047,000. In January and February this year, it recorded an average of 1,157,000 per month.

Among those hoping for additional employment in March, 346,000 answered 'yes' when asked if they had engaged in additional job-seeking activities within the past month, an increase of more than 100,000 from 228,000 in the same month last year.

The biggest reason for wanting additional jobs is economic burden. The persistent employment insecurity and the fear of losing jobs at any time have driven people to increase their jobs. Recently, even full-time employees, considered relatively stable, have joined the ranks of N-jobbers. Due to soaring asset prices such as real estate, it has become difficult to buy a home with labor income alone, and as the retirement age for employees at large companies is getting earlier, they are seeking new jobs to stabilize their income.

Shin, who works at a startup investment company and does translation part-time, said, "The anxiety about the future plays a bigger role than dissatisfaction with my current job."

Professor Yoon Dong-yeol of Konkuk University's Department of Business Administration said, "Additional employment will increase mainly in cultural content translation and YouTube filming. As the number of 'N-jobbers' increases, the labor market polarization between regular and irregular workers may worsen, so it will become more important to uphold the principle of 'equal pay for equal work' regardless of employment status."