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CRITICAL ANALYSIS OF GLOBAL DEVELOPMENTS, TRENDS & IDEAS

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July 21, 2015

The Precariat – When Insecurity Dominates

in Economics/Politics by

Only one in four people in the work force worldwide have a secure job with a permanent contract. The remaining three-quarters are employed “on temporary or short-term contracts, working informally without contract, self-employed, or in unpaid family jobs,” according to the International Labour Organisation (ILO). As a graduate student, finding this out has done nothing to allay fears of becoming gainfully employed after graduating, although quite frankly, and perhaps more depressingly, the findings are not exactly surprising. The post-crisis era has seen a marginal recovery in some economies, but job creation is slow and the actual jobs being created are only designed for part-time employment. Temporary jobs, albeit inherently insecure, are not all bad; they are the first jobs people go into after graduating to get a foothold in their desired career. There used to be the expectation of guaranteed progress towards a more permanent position. These expectations are now laughable. The financial crisis has forced people who were laid off from these permanent positions to pick up whatever odd jobs they could find to support themselves—a step down from which it is still hard to recover from even now. This lack of security, combined with the lack of a…

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