This paper focuses on the state of precarious work in Spain: Are all those who work as self-employed persons and interns truly operating under those descriptions, or are many of them employees so precariously engaged that they have no labour contracts? If so, how has this come to pass? Why is it increasingly happening? This paper raises some answers based on the Marxist approach. We link employment instability to increased exploitation of the Spanish labour force. This trend is a reaction by capital to low rates of profit and the implementation of particular governmental economic policies implemented to meet the demands of the European Union. Due to the precariousness of work, prospects for achieving a stable and autonomous life for a large cohort of Spain’s working youth are seriously threatened.