Word of the Day - Precariat

Unstable and underpaid, the precariat are already influencing politics
Image: REUTERS/Laurent Dubrule

Precariat - In sociology and economics, the precariat is a neologism for a social class formed by people suffering from precarity, which means existing without predictability or security, affecting material or psychological welfare. The term is a portmanteau merging precarious with proletariat.

Encountered in a post on of two minds.com:

The major players in the U.S. economy used four tricks to offset the ever-higher costs: globalization, financialization, reducing quality/quantity and turning the workforce into neofeudal gig economy precariats.

Via ZeroHedge