June food stamp recipients peak as three times as many Americans enter poverty as find jobs

September 4, 2012 – WASHINGTON – Following a brief period in which it seemed that US food stamp 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 food stamps, 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 Food stamps 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 food stamps, 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. –Zero Hedge
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One thought on “June food stamp recipients peak as three times as many Americans enter poverty as find jobs

  1. Pingback: Obamanomics: 173k New Food Stamp Recipients, 96k New Jobs « RubinoWorld

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