As a logical consequence of the prolonged economic downturn it appears that participation in the federal food stamp program is continuing to rise.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 indicated that in July, 11,532 recipients were added to the food stamps program with the current total increasing 2.95% on a year-over-year basis while household participation increased 5.05% over the same period.
Individual participation as a ratio of the overall civilian non-institutional population has increased 1.39% over the same period.
Participation continues to swell with nominal benefit costs climbing 2.91% on a year-over-year basis to $6.26 billion for the month.
