Departing from liberal accounts that understand 'modern-day slavery' and unfree labour in isolation from markets and shifting global networks of production and reproduction, this article highlights the need to investigate how far and in what ways the deepening and extension of neoliberal capitalism has given rise to the contemporary spectrum of unfree labour relations. Building on feminist political economy frameworks, the article argues that the neoliberal resurgence of unfree labour has been rooted in fundamental shifts in power, production and social reproduction whereby capital's security has increasingly come to rely upon the deepening of labour market insecurity for certain sections of the population. It highlights the need to understand unfree labour within the context of broader relations of inequality and hierarchical social relations, particularly along the lines of race, gender and citizenship, arguing that broader and more systemic evaluations of labour and unfreedom are essential to understanding the variegated power relations that underpin the most severe forms of exploitation.---