June Foodstamp Recipients Hit All Time High As Three Times As Many Americans Enter Poverty As Find Jobs

Following a brief period in which it seemed that US foodstamp recipients may have peaked, with those living in poverty maxing out at 46.514 million in December 2011, and then declining modestly for the next few months, June saw a new surge in those Americans living in poverty and thus eligible for foodstamps, with 173,600 new entrants into the system, bringing the total to a new all time high of 46.670 million and once again rising fast. Furthermore, with subsequent emergency events affecting the heartland due to the drought, the administration has made sure even more Americans will be eligible going forward. As a result expect the July and August numbers to promptly surpass 47 million on their way to the psychological resistance level of 50 million. Indicatively, the 173,600 increase in Foodstamps recipients in June was three times greater than Americans finding jobs (64,000, most of which part-time) according to the BLS. Finally, a new record was also breached for American households on foodstamps, which now hit 22.4 million, an increase of 106,298 households. The average benefit per household decline once more, this time to $276.5. Not an all time low, but just above it.

Persons on Foodstamps

Households on foodstamps

Source: SNAP

http://www.zerohedge.com/news/june-foodstamp-recipients-hit-all-time-high-three-times-many-americans-enter-poverty-find-jobs

Fair Use Notice: This post contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are makingsuch material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a ‘fair use’ of any suchcopyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest inreceiving the included information for research and educational purposes. For more information go to: www.law.cornell.edu/uscode/17/107.shtml.If you wish to use copyrighted material from this site for purposes of your own that gobeyond ‘fair use’, you must obtain permission from the copyright owner.