What is slavery?
According to the Wiktionary, slavery is a condition of servitude that a slave endures. A slave is a person who is the property of another person and whose labor and also whose life often is subject to the owner's volition.
Do you hate the capitalist who is the only person who is willing to employ you and in exchange, he will provide you with warm bed and food?
There's two choice, really: work or die.
At that point, the notion of exploitation is irrelevant. The capitalist is saving my ass. In return, I have to work in his sweatshop.
Sounds like your life is at the mercy of your employer. Your labor belongs to him, too. You are a slave, and he is your master. We should not tolerate such relationships.