America Celebrates Positive NFP Surprise And Wealth Effect With Another Foodstamp Record
As some Americans managed to find part-time and temporary jobs in March, some other Americans dropped below the poverty level threshold. 105 thousand in one month to be precise. The total foodstamp participation in January hit an all time record 44,187,831 according to the USDA. But fear not, here's the bullish spin... sorry, there is no way to spin this.
And while there is no positive spin, here is the negative: the average monthly benefit on a per person and per household basis, has been declining for two years straight and is now at the lowest it has been since April 2009.
In summary: more Americans than ever are living on government subsistence, but at least the amount these people are receiving is the lowest since 2009, or $132.81 per month. Unfortunately, America's attempt to recreate communism may not be working out all that well.
And now back to your regularly scheduled episode of BTFD.
h/t John Lohman