Capitalism and Labor Instability
Capitalism has led to labor instability resulting in a large number of unemployed people (Standing, 13). Multinationals prefer unstable labor and have the resources to secure workers from many parts of the world (Standing, 17). Many young people have seen their parents trapped in employment are not keen on securing jobs (Standing, 13). In the Precariat era, many people fear to enter the labor market because the emergence of globalization does not guarantee them job security. Laws and state bureaucracies prevent individuals from attaining equal employment opportunities as the indigenous people of a nation (Standing, 9).
The Class System and Unemployment
Moreover, many people remain unemployed due to the existence of the class system where minorities of people have control over the economic and political policies of nations (Standing, 13). Many people strive to escape from the labor market, as it does not define their positions (Standing, 22). The jobs, which were available in the 18th century and below, are no longer available for the precariat.
Challenges Faced by the Precariat
Currently, the precariat does not receive non-wage benefits such as medical leave, paid vacations, company pensions, state and community benefits, which leads to low morale in seeking employment. The uneven distribution of wealth and resources has led the rich to continue living lavishly while the poor continue to live in poverty as the class system do not offer them an identity or opportunity to work. The precariat era does not take account of time utility as people are forced to work long hours with no or limited pay. The hiring of people with zero hour contracts discourages people from seeking employment. People no longer get opportunities to use the acquired skills in the job market. The increase of qualified people in the job market has led people to accept low wages that do not match their qualification discouraging employment (Krahn, Andrea & Galambos, 247).
Work Cited
Standing, Guy. A precariat charter: From denizens to citizens. A&C Black, 2014.
Krahn, Harvey J., Andrea L. Howard, and Nancy L. Galambos. "Exploring or floundering? The meaning of employment and educational fluctuations in emerging adulthood." Youth & Society 47.2 (2015): 245-266.
