The term is a portmanteau obtained by merging precarious with proletariat.[1] Unlike the proletariat class of industrial workers in the 20th century who lacked their own means of production and hence sold their labour to live, members of the precariat are only partially involved in labour and must undertake extensive "unremunerated activities that are essential if they are to retain access to jobs and to decent earnings". Specifically, it is the condition of lack of job security, including intermittent employment or underemployment and the resultant precarious existence.
personally i dont blame the "neoliberal system", which i see as putting as anthropomorphism on the more mundane and chaotic trends of automation and globalization.
still, the outcome is the same no matter how you spin the cause - most of us are in the precariat now.
and people in the corner with nothing to lose are people you got to worry about.