In sociology and economics, the precariat (/prɪˈkɛəriət/) 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.

What is a precariat According to Guy Standing?

The precariat is additionally defined by distinctive relations to the state: they are losing rights taken for granted by full citizens. Instead, they are denizens who inhabit a locale without civil, cultural, political, social and economic rights, de facto and de jure.

Who defined the precariat?

For our purposes, the precariat consists of people who lack the seven forms of labour-related security, summarised below, that social democrats, labour parties and trades unions pursued as their “industrial citizenship” agenda after the Second World War, for the working class or industrial proletariat.