The term Casualisation of workforce describes a scenario where the proportion of casual workers within the total workforce grows relative to regular salaried employees.
Casualisation signifies a shift towards more temporary, unstable employment with reduced job security. These workers typically lack access to social security, paid leave, and consistent income, frequently working informally without formal contracts.
This pattern can indicate increasing labor market instability, particularly in developing economies where formal employment opportunities are scarce.
Clarification of Incorrect Choices:
(i) Formalisation: This represents a rise in formal sector jobs, which contradicts casualisation.
(iii) Unemployment: While casualisation can be linked to underemployment or poor job quality, it is distinct from unemployment.