A tiny group might try to live in it, but more would see seasonal jobs as enough. As automation improves in general people would work less over their lifetime. Critically this would likely slow down the economy in the short term, but the constant minor labor shortage would presumably push for ever more automation to offset this.
Unfortunately, it needs to be a pay go system based on a fixed economic percentage to really work. But, assuming it was the general population would suddenly have a huge incentive to promote automation and economic growth.