Similar situations happen in many places around the world.

Factory workers are usually not well educated and they don’t handle money well.

A perfect example is Alberta oil sands. Many workers are extremely well paid. Most of them just spend everything and manage to get in debt with lavish lifestyle. Buying expensive cars, toys, large houses. They end up without any significant net worth and now are also hostage of their lifestyle.

There’s a term for that: lifestyle inflation.