People being forced to sell their only product (labour) at any price to the first bidder or have that product vanish (hours go by) and starve in a situation with massive information asymmetry where the bidders are using collective bargaining and control the means of survival is not a market interaction.
When they are denied the opportunity to easily obtain better positions through structural roadblocks, I would to an extent say this. At a minimum I would say that they are being exploited.
Sorry, are you saying that expecting people to work to meet their own needs is them being "held hostage for their lives"?