You can lose a job, and it can play out pretty bad. That's a persistent background dread in most people lives.
Quite a few commenters on this forum live in parts of the world where that is not the case. It's certainly not the case for the majority of the world's population.
And welfare, even where it is available, is usually severely capped both in amount and duration. You may not die of hunger but losing your place to live is entirely realistic.