Why is employment not enough to meet daily needs
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The main reason why employment does not meet people’s daily needs is low wages. Even if they are fully employed, their income is not enough to cover basic expenses such as housing, food, transport and health care. Some may be employed part-time or as undeclared workers.
The cost of living is high, including housing, food, health, etc. Even with a decent income, people find it difficult to afford necessities due to the high cost of living. As per statistics, the estimated cost of living in Hyderabad is 108,615 per family in a month without rent and for a single person without rent the monthly cost is 31,244.
Debts like student loans, home loans, credit cards, mortgages etc. They consume a significant proportion of their income.
Unforeseen expenses, lack of benefits such as health insurance, paid sick leave or pension contributions, lack of proper financial budgeting, structural barriers such as education and training, and family responsibilities are the other factors that affect meeting daily needs..