From Japan Times:
Freeter: a Japanese Anglo-Germanism coined in 1987 meaning, roughly, free work. You ditch the career track in favor of part-time jobs leading nowhere and demanding little -- so many hours a day, at so much (generally not very much) per hour, and the rest of your life is your own. Fed up? Quit; travel; drift back; get another job . . . Not a bad deal, thought many.
The article goes on to ream this lifestyle, saying that corporations do not look kindly upon "freeters."