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U.S. Families Turn To Food Stamps As Wages Drop


Parsad
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In line with our past assumptions regarding the economy, larger and larger numbers of food stamp users are those that remain statistically employed, but have had their hours or hourly rates cut back.  The numbers continue to be very shocking.  There will be no consumer lead rebound.  Cheers!

 

http://www.ft.com/cms/s/0/c1e698a2-9984-11de-ab8c-00144feabdc0.html?nclick_check=1

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Well unemployment is 10% ... at least 90% of the population are working.  ;)

 

Actually, that's wrong. 10% of the workforce is unemployed, not everyone else is working (i.e students, retired people). When you factor in individuals who have stopped looking (i.e. given up) and dropped out of the workforce along with the number of people who are working but have had their hours reduced unemployment is closer to 16%. (sorry I can't find the link right now but will post it later if I can find it). In some states, California for example, the number is closer to 20%. Then there is the CRE mess to deal with, ARM mortgages starting next year, all in all, it should be interesting!

 

cheers

Zorro

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