It would for many min-wage workers, sure. But if you don't have to worry about bills, you'd get bored and still find something to do. So this allows more people to start their own small business and work for themselves instead of some corporation that will just extract the excess of their labor. There would be a massive drop in the unemployment pool, which would cause many issues with larger businesses that rely on labor value extraction to operate. However, smaller businesses, especially in rural areas with a lot of farmers and/or ranchers, would likely do better since there would be less money leaving the town to pay for utilities (or trips to Walmart, since everyone now has more money to spend on things besides food/housing/bills and can afford to shop at smaller stores). This would also pad the pockets of Mom-n-Pop shops, which would keep prices down and allow more competition against big box stores, which in turn keeps more money local and improves the local economy.