The purpose of this study is to examine the expanding migrant peasants (Nong-Min-Gong) in the special socio-economic context of China in a multidimensional manner in terms of employment, wage and social insurance, and to empirically analyze and understand the characteristics of their precarious work. To this end, this study first looked at the backgrounds and characteristics of Chinese migrant peasants and their various instability experiences, and systematically reviewed existing studies on precarious work. Based on this, precarious work is classified into four degrees: very unstable, somewhat unstable, somewhat stable, stable, and unstable labor using data from the Chinese Labor-force Dynamics Survey (CLDS, 2014) and was analyzed in three aspects: employment, wage, and social insurance. As a result of the analysis, those too precarious in all three aspects, that is “very precarious” and “precarious” migrant peasants accounted for 93.4%, revealing that the precariousness of Chinese migrant peasants was very serious. In addition, the fact that precarious employment could be interpreted as the main cause of the serious precarious labor of migrant peasants, which has implications for policy development. The results of this analysis on the multidimensional precariousness of the migrant peasants have implications since there is a limit to explaining precarious work only by ‘non-regular workers’ or ‘atypical laborers’ when looking at the employment types in China. The results can also have implications for the need to analyze rapid changes in the labor market and the need to analyze the historical institutional pathways surrounding workers and the combination of institutions from multiple perspectives. In other words, the study has implications for subsequent research on the path dependence of the household registration system and the combination of the urban-rural dual structure to form the precarious workers in China, represented by migrant peasants.