Young people's experience of work in today's world is characterised by insecurity and vulnerability. At the same time, an ideological discourse has gained currency which personalises social problems and attributes them to psychological factors. A study of the discourse of young Spaniards from different social backgrounds revealed the presence of individualistic attitudes, together with a strong feeling of powerlessness that makes it difficult for them to see a way out of their situation. Their experience serves to illustrate the psycho-social consequences of the trend for modern methods of production to be accompanied by the spread of deregulation, a tendency for inequality to be taken for granted and the attribution of social problems to personal factors. The social cohesion of modern industrialised societies, which is based on security and the predictability of future events, is being replaced in so-called post-industrial societies by an emphasis on individual risk management which places the worker in an extremely vulnerable position.