Presumably, people would adjust their way of living to incorporate the extra income from their job so losing the job would affect their way of life. Many people

Presumably, people would adjust their way of living to incorporate the extra income from their job so losing the job would affect their way of life. Many people today can't "afford" to change to a lower paying job because their use to the lifestyle their current job affords them. For example, leaving industry to do a PhD can be difficult, even though the pay for a PhD student should cover basic expenses.