Record 46 Million Americans Are on Food Stamps - 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 receiving 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 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."
At least the great dictator assures us the private sector is doing fine.....
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 receiving 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 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."
At least the great dictator assures us the private sector is doing fine.....
