Theories of precarious employment based on the constructs of job quality and job stability have highlighted the issue of transitions, linked to gender and age, from long-duration employment in bad-quality jobs, into good-quality stable employment. This article uses Markov chain analysis to study the labour market transitions of South Korean women in different age groups. It shows the importance of differentiating the effects of contemporary labour market conditions, shaped by the forces of the moment, from conditions created by the institutional legacy of the past. Women’s traditional position in the labour market has resulted in age-linked gendered precariousness, while the conditions of the moment are generating a tendency towards less precarious employment. Transition matrices are developed for types of precarious employment defined by the combination of job stability and job quality, taking into account duration by age group, time period, and covariates. These matrices yield distributions of asymptotic prevalence, reflecting labour market conditions of the moment. The forces of the moment favour the predominance of stable good-quality employment, whereas observed prevalence at a given date is characterised by the polarisation of the labour market between stable good-quality and unstable bad-quality employment. Asymptotic prevalence reveals a steady increase in stable but bad-quality employment. Older women are observed mostly in unstable bad-quality employment, but labour market conditions are tending to attenuate this age cleavage over time, as the conditions of the moment are reducing the proportions of older women in stable bad-quality and unstable good-quality employment. The conclusion is an age-based polarisation, in which older women are faring badly, but where possibilities are now opening up to younger South Korean women, reflected in the sharp break between the situation inherited from the past and the conditions of the moment. But possibilities for younger women will be realised only through a reinforcement of government policies to support career breaks and work–family balance through decent part-time jobs.
