মঙ্গলবার, ১৩ নভেম্বর, ২০১২

Food stamp use jumps in August

420,863 new recipients were added to the food stamps program in August 2012, with the current total increasing 2.86 percent on a year-over-year basis.

By SoldAtTheTop,?Guest blogger / November 13, 2012

This graph shows percent of population on food stamps and the total unemployment rate since 2005. Individuals receiving food stamp benefits rose to 47.1 million in August 2012.

SoldAtTheTop

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As a logical consequence of the prolonged economic downturn, it appears that participation in the federal food stamp program is continuing to rise.

Skip to next paragraph SoldAtTheTop

Writer, The PaperEconomy Blog

'SoldAtTheTop' is not a pessimist by nature but a true skeptic and realist who prefers solid and sustained evidence of fundamental economic recovery to 'Goldilocks,' 'Green Shoots,' 'Mustard Seeds,' and wholesale speculation.

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In fact, household participation has been climbing so steadily that it has dwarfed the last peak (which looks like a minor blip by comparison) set as a result of the immediate fallout following hurricane Katrina.

The latest?data released by the Department of Agriculture?indicated that in August, a?whopping 420,863?new recipients were added to the food stamps program with the current total increasing 2.86% on a year-over-year basis.

Individuals receiving food stamp benefits rose to 47.10 million which, as a ratio of the overall civilian non-institutional population, increased 1.30% on the month to now stand at a whopping 19.33% of the population.

Households receiving food stamps benefits increased by 146,677 to 22.68 million, a 4.42% increase on an annual basis.

As participation continues to swell, so too has the total nominal benefit cost climbing 2.51% on a year-over-year basis to $6.28 billion for the month.

The Christian Science Monitor has assembled a diverse group of the best economy-related bloggers out there. Our guest bloggers are not employed or directed by the Monitor and the views expressed are the bloggers' own, as is responsibility for the content of their blogs. To contact us about a blogger, click here.To add or view a comment on a guest blog, please go to the blogger's own site by clicking on paper-money.blogspot.com.

Source: http://rss.csmonitor.com/~r/feeds/csm/~3/y7sUHcj6aJQ/Food-stamp-use-jumps-in-August

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