Supplemental Poor- A new class has emerged

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Costs of living are rising to highly alarming levels in California. This rapid shoot has led to the formation of a new definition of who is poor. It is shocking to know that even people who earn $4000 – $5000 monthly are just one step away from being impoverished. The working class families are struggling to save every penny they earn. The main areas of concern are house rent and child care. Sometimes even if both the husband and wife are earning, their expenditure on basic essential necessities are still quite disturbing as costs are increasing to a great extent. The new class of who can be called poor has earned a name for itself. This class of people is now being called as the Supplemental poor. The supplemental class poverty rate is around 21 %.

Was it always like this?

class2California is a land where there are two extremes. On one side they have multi-millionaires who spend money with no limits and bring a hike in the cost of living. They create such hype for this style of living and accommodation that the opposite side falls out of balance and barely manages to meet both ends.
Many couples who are both working are now faced with a great dilemma. With the soaring costs of childcare, they are considering if one of them should remain at home to care for children. However, this loss of one steady income is going to topple the balance of their lives as well. They are faced with the challenge of finding a reliable and affordable child care system which will allow them to continue earning two incomes. Most of the working women are mainly affected by this dilemma. They need to take proper care of their kids and at the same time need to find a way to preserve the constant flow of money received from their jobs.

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Did You Know That Netflix Is Hiking Its Fee?

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For many of us, Netflix has now become part and parcel of our daily lives. It is, after all, the global leader in Internet Television, specializing in providing millions of people all over the world with quality online entertainment in the form of streaming videos and music as well as providing recorded entertainment in the forms of mail-order DVDs. This is the brainchild of Reed Hastings and Marc Randolf, who together founded the company in August 1997. Situated in scenic California, this multi-million dollar company provides its many services to as many as 195 countries.

But soon, many of these people might have to say goodbye to their favorite shows on Netflix, if the entertainment giant is going to have its way. It has been speculated that Netflix plans to bring about another increase in its subscription fees. And this time, the existing subscribers will not be spared from the onslaught!

Two years ago, Netflix hiked its fees to $10 per month but allowed existing subscribers to avail its HD services for just $8. But this respite is now officially over. Netflix has announced that it plans to lump all its users into the $10 category, much to the huge dismay of over 17 million users worldwide. That’s approximately 40% of total Netflix users!

And to add insult to injury, most of these poor souls don’t even know of this steep hike in their subscription rates! Experts believe that this might not affect Netflix much in the long run. After all, it is still cheaper than pay-per-view cable TV, with its average cost per second being only Nine cents an hour. Even after the hike, chances are that most users will still be willing to pay extra for these services, with only a few taking the extreme step of having their subscriptions canceled.

Yahoo Plans To Lay Off 1000 Employees

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These are sad times for the employees at Yahoo. This year, employees can expect an official intimation of termination rather than the annual bonuses they have become so used to. Insiders in the industry have been speculating for a long time about what Yahoo’s next plan would be, now that it was proved its expansionist activities weren’t going off as well as it had planned.

Yahoo’s Chief Executive Officer Marissa Mayer has declined to comment on these rumors, but insiders at Yahoo have confirmed that there were some goings-on afoot. Some have reported that investors have called for a major cut in the number of employees, starting with Mayer herself. If the pressure tactics succeed and the investors are allowed to have their way, Yahoo could see at least 1000 dedicated souls pack their stuff and head out into the unknown. That makes about 10% of Yahoo’s 10,000 employees.

There have already been numerous cost-cutting measures. Yahoo has already bid a fond farewell to Yahoo Screen, the video hub for all of its online magazines. Yahoo is famous for its digital online magazines, and it remains to be seen how it will survive without Yahoo Screen’s services.

Industry experts are watching how far Yahoo will succeed with such cost-cutting measures in the long-run. These layoffs will be more visible towards the end of the year when the employees are eagerly anticipating their bonuses.