Precarity
Etymology
Ultimately from Latin precarius, "obtained by entreaty" — something held only because another person allows it (from precari, "to pray, to beg"). That is the key: the precarious thing originally depended on somebody else’s favor. From "held at another’s pleasure" the meaning drifted to "uncertain, insecure," and precarity names the broader state of living that way.
noun · /pri-KAIR-ih-tee/
Living under conditions of chronic insecurity — unstable employment, housing, income, or status.
What it names
The background hum of "this could all fall apart" that defines a lot of modern working life, distinct from simple poverty.
Example
Gig work traded the boredom of a salary for the precarity of never knowing next month’s income.
Related idea
Precarious describes a single unstable thing; precarity describes a whole condition of life.