Food stamp participation on the rise
In August, an additional 492,351 recipients were added to the food stamps program
This chart shows the rate of participation in the Federal food stamp program since 2005. Participation is strongly correlated to the unemployment rate, and both have been high over the past three years.
SoldAtTheTop
As a logical consequence of the prolonged economic downturn it appears that participation in the federal food stamp program is continuing to rise.
In fact, household participation has been climbing so steadily that it has far surpassed the last peak set as a result of the immediate fallout following hurricane Katrina.
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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The latest data released by the Department of Agriculture shows that in August, an additional 492,351 recipients were added to the food stamps program increasing 8.13% on a year-over-year basis and household participation increased 10.32%.
Individual participation as a ratio of the overall civilian non-institutional population has increased 7.34% over the same period.
Participation continues to increase with nominal benefit costs climbing a lofty 7.98% on a year-over-year basis to $6.13 billion for the month.
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