National Catholic Reporter

The Independent News Source

Record 46 million Americans on food stamps

 |  NCR Today

According to a story at CNBC:

The number of Americans on food stamps hit a record high in June, and economists don't expect much improvement as long as unemployment remains high.

Those benefits through the Supplemental Nutrition Assistance Program numbered 46.37 million, the government said in a report that hit just days ahead of the monthly nonfarm payrolls report, which the Labor Department releases Friday.

The two numbers are inextricably linked as the economy battles its way back from the crippling recession that the National Bureau of Economic Research says ended in 2009.

envelope-gray-background.jpgLike what you're reading? Sign up for NCR email alerts.

"The unemployment data is not really telling us the true story of how many people are underemployed," says Peter Cardillo, chief market economist at Rockwell Global Capital in New York. Food stamps are "a good indication of how the income of the workforce has stagnated and more and more people are applying for food stamps.

With 22.4 million households using food stamps, fully 15 percent of the American population is on the program. The costs, at $6.025 billion for the month, are just off the all-time record though the average monthly benefit per person has declined modestly to $132.96.

While the unemployment rate actually has come down from the 10 percent readings it showed in 2009, the amount of participants for the SNAP program has soared.

NCR Comment code: (Comments can be found below)

Before you can post a comment, you must verify your email address at Disqus.com/verify.
Comments from unverified email addresses will be deleted.

  • Be respectful. Do not attack the writer. Take on the idea, not the messenger.
  • Don't use obscene, profane or vulgar language.
  • Stay on point. Comments that stray from the original idea will be deleted. NCR reserves the right to close comment threads when discussions are no longer productive.

We are not able to monitor every comment that comes through. If you see something objectionable, please click the "Report abuse" button. Once a comment has been flagged, an NCR staff member will investigate.

For more detailed guidelines, visit our User Guidelines page.

For help on how to post a comment, visit our reference page.

 

Feature-flag_GSR_start-reading.jpg

NCR Email Alerts

 

In This Issue

August 1-14, 2014

08-01-2014.jpg

Not all of our content is online. Subscribe to receive all the news and features you won't find anywhere else.