A report by Washington, D.C.-based Bread for the World Institute states U.S. hunger rates can be cut in half within five years if the minimum wage was increased by $1 per hour and an additional $5 billion in federal funds were put into public food programs, Reuters reports.

Despite those promising statistics, David Beckman -- president of Bread for the World -- told United Press International that the record-setting economy hasn't improved the lives of the hungry.

A study released last week indicates 3.6 percent of U.S. households went hungry, and another 10 percent were close to going hungry, the institute reports. About 19 million adults and 12 million children have "nutritionally poor" diets due to their family's struggle to purchase food, Bread for the World states.

About 18 million people per month get food stamps worth an average of $73.74. Additionally, the Senate passed a bill to increase the minimum wage over the next three years. Beckman says it should be increased within two years, Reuters reports.

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