Which of the following statements is true?

1. Casualization of workforce refers to the situation in which percentage of casually hired workers in the total workforce tends to rise over time.
2. Informalisation refers to a situation when people tend to find employment more in the informal sector and less in the formal sector.

Both 1 and 2 are correct

Both the statements are correct. 

Scholars call the process of moving from self-employment and regular salaried employment to casual wage work noticed during 1972-94 as casualisation of workforce.

Informalisation of workforce refers to a situation whereby the proportion of workforce in the informal sector to total workforce increases.