Money News: SNAP Benefits Rise, Dollar Surpasses 18 Pesos, and US Job Growth Slows

This week’s money news included an increase in SNAP benefits, the dollar rising above 18 pesos in Mexico, and only 29,000 new jobs in the United States in September.

Why it matters: these changes affect your wallet directly: how much you can buy with your food stamps, how much your remittances are worth, and how easy it is to find a job or get a raise.

SNAP: Slightly Higher Benefits Starting October 1

As it does every year, the Department of Agriculture (USDA) adjusted SNAP benefit amounts for inflation. The new maximums took effect on Thursday, October 1, in the 48 contiguous states and Washington, D.C.:

• Family of four: up to $1,023 per month, $29 more than the previous $994.
• One person: up to $306 per month (previously $298).
• The minimum benefit increased to $25.

Alaska, Hawaii, Guam, and the US Virgin Islands have their own tables; in Hawaii, the maximum for four people decreased to $1,655.

Starting this month, states must also pay 75% of SNAP administrative costs, instead of 50%, due to the fiscal and spending law Congress approved in 2025. Deposit dates still depend on each state’s calendar.

Social Security: Early Payments and Countdown to 2027 COLA

SSI beneficiaries received their payments on Thursday, October 1. Those who normally receive Social Security on the 3rd got their payment a day early, on Friday, October 2, since October 3 is a Saturday. It was not an extra payment, but rather the October benefit paid early.

Other monthly payments arrive according to birthdate:

• Wednesday, October 14: born between the 1st and 10th.
• Wednesday, October 21: born between the 11th and 20th.
• Wednesday, October 28: born between the 21st and 31st.

The big pending figure is the 2027 cost-of-living adjustment (COLA). It will be announced on Wednesday, October 14, when the Bureau of Labor Statistics (BLS) releases September’s inflation data, the last piece of information needed for the calculation. The index used, the CPI-W, rose 3.5% over the year through August. This 3.5% is not yet the COLA increase; the COLA is based on the average of July, August, and September.

Dollar: Up in Mexico and Down in Colombia

In Mexico, the Banco de México’s FIX exchange rate closed on Friday, October 2, at 18.1903 pesos per dollar, up 2.7% from a week earlier (17.7100). The dollar surpassed 18 pesos on Tuesday, September 29, and reached its weekly high of 18.3688 on Thursday, October 1.

For those sending money to Mexico, each dollar yields about 48 cents more than it did a week ago.

In Colombia, the Representative Market Rate (TRM) on Friday, October 2, was 3,307.73 pesos per dollar, 0.7% less than the previous Friday (3,329.61). The highest TRM of the week was on Tuesday, September 29, at 3,349.63. For Saturday, October 3, Sunday, October 4, and Monday, October 5, a TRM of 3,273.49 pesos applies.

Keep in mind that banks, currency exchange houses, and remittance services apply their own rates, which may differ significantly from the official rate.

US Economy: Fewer Jobs, Expensive Gas, and No Government Shutdown

• Employment: the economy added 29,000 jobs in September, compared to 133,000 in August (revised figure). Unemployment rose to 4.2%; among Hispanics, it decreased to 4.7%, from 4.8%.
• Wages: the average hourly pay in the private sector reached $37.81, up 3.0% from a year ago.
• Gasoline: a gallon of regular gas costs an average of $4.47 on Monday, September 28, $1.35 more than a year earlier, according to the Energy Information Administration (EIA). Diesel costs $6.38.
• Interest rates: the Federal Reserve’s reference rate remains between 3.75% and 4% after the September 16 increase. The next decision will be on October 28.
• No government shutdown: the new fiscal year began on October 1, as a law signed on September 2 finances the federal government until December 11.

Other Money News of the Week

• Medicare 2027: open enrollment runs from October 15 to December 7.
• The 2027-28 FAFSA is now open for federal student aid applications.
• The IRS proposed rules for a new tax credit of up to $1,700 for donating to school scholarships.
• Open enrollment for Obamacare 2027 starts on November 1.

Sources: Department of Agriculture (USDA), memo on SNAP adjustments for fiscal year 2027; Social Security Administration (SSA), 2026 payment calendar; Bureau of Labor Statistics (BLS); Banco de México; Banco de la República de Colombia (datos.gov.co); Energy Information Administration (EIA); Federal Reserve; Public Law 119-103. Data consulted on October 3, 2026.