Quite so. The term for this is [the reserve army of labour][0].<p>[0]: <a href="https:&#x2F;&#x2F;en.wikipedia.org&#x2F;wiki&#x2F;Reserve_army_of_labour" rel="nofollow">https:&#x2F;&#x2F;en.wikipedia.org&#x2F;wiki&#x2F;Reserve_army_of_labour</a>