This report aims to empirically analyze income volatility and explore social policy responses in the face of increasing employment and income instability driven by diversifying work arrangements and employment types. Using data from the Household Income and Expenditure Survey, the Korean Labor and Income Panel Study, and administrative panel data on Employment Insurance beneficiaries, the study tracks long-term changes in income seasonality as well as within-year and year-to-year income volatility at both individual and household levels. Based on the findings, the report proposes sophisticated and timely social policy interventions tailored to the specific characteristics of different groups, such as flexible adjustment of policy timing, strengthening countercyclical social safety nets, and establishing a foundation for real-time income monitoring.