The global division of labor derived from an increasingly integrated world economy, and the pressing need to adjust to accelerating changes in the international environment have deeply transformed the context of work in most countries (see Blossfeld, this volume). In the process of adapting their productive structures to new demands and increasing competition from other countries with lower labor costs, most post-industrial societies have experienced a sharp increase in unemployment as well as a rise in job precariousness and temporality, as a sort of accommodating strategy to pressures for increasing flexibility, which basically transfers the risks of the employer in a rapidly changing market to the employee (McKay, 1988). Spain is no exception to these developments. In fact, a combination of historical, structural, and institutional factors have converged to exacerbate some of the adverse implications of globalization, such as unemployment and job precariousness, for which Spain holds the highest record in the European Union. This situation at the macro level carries important consequences at the individual level for the transition to adulthood.