The precariat is a social class formed by people suffering from precarity, which is a condition of existence without predictability or security, affecting material or psychological welfare.
The proletariat, in a capitalist society, whose only possession of significant material value is their labor-power their ability to work.
The differences between these two categories have typically been hourly versus salary, or exempt or nonexempt. The gap is now shifting with the implementation of the new overtime laws. More employees are going to be reclassed from salary to hourly for a ability of calculating overtime. So those who earn $47,476 or less may become hourly employee again.
In pursuit of competitiveness, governments have implemented policies of labor flexibility. In this pursuit labor stability has become more insecure, leaving millions without health care, pensions or other benefits.
All while governments have turned to means-tested social assistance and to workfare. The welfare state has withered.
So more and more people will need to rely on themselves and family while we wait, watch and prepare for the future. I foresee more of a move to self-entrepreneurship. I believe everyone should create a side business to bring in additional funds for greater lifetime flexibility.
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