SNAP, or the Supplemental Nutrition Assistance Program, helps most low-income households in the United States. To receive benefits beyond 3 months, as a childless adult, you need to be employed at least 20 hours per week or enrolled in a job training or work program.
In 2013, coming off the Great Recession, SNAP covered 15% of the US population, or over 47 million people. Scary. Since then, the percentage receiving support has come down to 13% and there are 10.6 million more people 5 years later.
While that's good news. We should be mindful that we are currently in the longest period of expansion (8.5 years), albeit incremental, since the period before the Great Recession began, which was 10 years long.
Here's the concern: Just before the Great Recession, the percentage of the U.S. population receiving benefits was 8.75% and the Fed Interest Rate was 5.25%. In other words, we had slack in the economy to deal with one of these recessions, which are cyclical in nature.
What's going to happen in 2018? Will homes prices continue to soar? Will the Dow Jones surpass 30,000? Will inflation stay under 5%? We all hope for green pastures ahead and whatever is around the next bend Recommnded.com will be there to support you.
We'd love to hear your thoughts on these topics. Please email us feedback to community@Recommnded.com. And if you need help with your job search, email us at talentsuccess@Recommnded.com and we'll help you.
David - 925-237-1221