SNAP Benefits Recipients in Iron County, MI
CBR26071MIA647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,813.00
Year-over-Year Change
-9.58%
Date Range
1/1/1989 - 1/1/2022
Summary
This trend measures the number of Supplemental Nutrition Assistance Program (SNAP) recipients in Iron County, Michigan. It is an important economic indicator for understanding food insecurity and social welfare needs in the region.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The SNAP Benefits Recipients in Iron County, MI trend tracks the total number of individuals receiving federal SNAP benefits within this specific county. SNAP, commonly known as food stamps, is a vital social safety net program that helps low-income households afford groceries.
Methodology
The data is collected by the U.S. Census Bureau through surveys and administrative records.
Historical Context
This metric is closely monitored by policymakers, social service providers, and economists to assess the economic well-being of local communities.
Key Facts
- Iron County, MI has a population of around 11,000 people.
- SNAP participation rates tend to rise during economic downturns.
- The average SNAP benefit per household in the U.S. is $250 per month.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of individuals in Iron County, Michigan who are receiving Supplemental Nutrition Assistance Program (SNAP) benefits, commonly known as food stamps.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important indicator of food insecurity and economic hardship within the local community, which is crucial information for policymakers, social service providers, and economists.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys and administrative records.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to assess the effectiveness of social welfare programs and make informed decisions about resource allocation and program funding.
Q: Are there update delays or limitations?
A: The data is typically updated on a monthly or quarterly basis, and there may be some lag in reporting due to the time required for data collection and processing.
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Citation
U.S. Federal Reserve, SNAP Benefits Recipients in Iron County, MI (CBR26071MIA647NCEN), retrieved from FRED.