U.S. families turn to food stamps as wages drop
Quote:
The number of working Americans turning to free government food stamps has surged as their hours and wages erode, in a stark sign that the recessions is inflicting pain on the employed as well as the newly jobless.
While the increase in take-up is often attributed to the sharp rise in unemployment – which on Friday hit 9.7 per cent – the Financial Times has learnt that some 40 per cent of the families now on food stamps have “earned income”, up from 25 per cent two years ago.
The agriculture department, which runs the programme, attributes this rise to workers having their hours cut back.
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IMHO, there is no shame in turning to food stamps and/or subsidies in bad times, but this change was a surprise. The 9.7% unemployment number is also a bit low; the U-6 number in the latest jobs report is now 16.8%.
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