Food stamp use continues to rise
Household participation in the federal food stamp program increased 5.82 percent on a year-over-year basis, while household participation increased 7.46 percent.
This chart shows the rise in food stamp participation as it correlates to the unemployment rate since 2005. Food stamp participation has risen steadily in the years since the economic downturn.
SoldAtTheTop
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 paragraphWriter, 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.
Recent posts
-
05.25.12
Home prices increase -
05.24.12
Unemployment claims drop -
05.23.12
Mortgage rates slide to record lows -
05.22.12
Existing home sales on the rise -
05.21.12
Chicago Fed: US economy improving
In fact, household participation has been climbing so steadily that it has far surpassed 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 shows that in November, 94,086 recipients were removed from the food stamps program with the current total still increasing 5.82% on a year-over-year basis while household participation increased 7.46%.
Individual participation as a ratio of the overall civilian non-institutional population has increased 5.06% over the same period.
Participation continues to increase with nominal benefit costs climbing a lofty 6.86% on a year-over-year basis to $6.20 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.
Follow Us