The number of Americans receiving assistance from the Supplementary Nutrition Assistance Program (SNAP), more commonly known as food stamps, increased 0.26% in June, the U.S. Department of Agriculture reports.
47.760 million people participated in the program in June compared to 47.635 million in May, which means that SNAP expanded by 125k people during the month. The increase in June follows a 0.18% increase in participation in May.
The average monthly benefit received per person in June was $132.89, up from $132.70 in May. This means that the total cost of the SNAP program in June was $6.347 billion.
Top value fund managers are ready for the small cap bear market to be done
During the bull market, small caps haven't been performing well, but some believe that could be about to change. Breach Inlet Founder and Portfolio Manager Chris Colvin and Gradient Investments President Michael Binger both expect small caps to take off. Q1 2020 hedge fund letters, conferences and more However, not everyone is convinced. BTIG strategist Read More
As the SNAP program continues to grow, the demographic composition of the people participating hascontinued to grow as well.