The Precariat Class Structure and Income Inequality among US Workers: 1980-2018

I apply the precariat class schema developed by Standing to the US workforce to illustrate an increased polarization between those who do and do not have quality jobs from 1980 to 2018. I use a decomposition of inequality to show that the precariat class structure explains a substantial and growing portion of income inequality. The precariat is typified by unstable, short-term, part-time, and benefit-free jobs. I find that that the precariat make up a large and growing share of the US workforce, while the "old" working class shrank precipitously. I also show that the demographics of the precariat and the old working class are substantially different in terms of race and gender.