Americans Needing Food Stamps Continues to Rise
Source: Rebel Traders
Breaking records is one thing when it comes to sports or eating hot dogs for the Guinness World Record. But when it comes to poverty and food stamps this is not a record one wants to see broken.
The number of Americans receiving food stamps rose to a record 41.8 million in July as the jobless rate hovered near a 27-year high, the government said.
Recipients of Supplemental Nutrition Assistance Program subsidies for food purchases jumped 18 percent from a year earlier and increased 1.4 percent from June, the U.S. Department of Agriculture said today in a statement on its website. Participation has set records for 20 straight months.
Unemployment in September may have reached 9.7 percent, according to a Bloomberg News survey of analysts in advance of the release of last month’s rate on Oct. 8. Unemployment was 9.6 percent in July, near levels last seen in 1983.
An average of 43.3 million people, more than an eighth of the population, will get food stamps each month in the year that began Oct. 1 2010, according to White House estimates. (Bloomberg)
Americans Needing Food Stamps Continues to Rise is a post from: Rebel Traders – Stock Market and Economic Analysis
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