Postal Service: Red ink for 11th year in row as mail slumps

November 14, 2017

The beleaguered U.S. Postal Service reported a financial loss Tuesday for the 11th straight year, citing declining mail volume and costs of its pension and health care obligations even as it predicted another strong holiday season of package deliveries.

It pleaded for more freedom to raise stamp prices to help keep pace with consumer demand for ever-quicker deliveries from online shopping.

Without help, “our financial results will continue to deteriorate and likely at an accelerated rate,” said Postmaster General Megan J. Brennan. “We cannot generate enough revenue or cut enough costs to pay all of our bills.”

The Postal Service reported a loss of $2.7 billion for the fiscal year that ended Sept. 30. That was better than a $5.6 billion loss in the prior year but was mainly due to fluctuations in interest rates that reduced workers’ compensation expenses.

The 2017 loss came after a double-digit increase in package delivery was unable to offset drop-offs in letter mail, which makes up more than 70 percent of total postal revenue. Mail volume fell by roughly 5 billion pieces, or 3.6 percent, as people in the digital age rely more on email for online bill payments.

Revenue came to $69.6 billion, down from $71.5 billion last year.

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89 Comments on "Postal Service: Red ink for 11th year in row as mail slumps"

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Linda Durland Hixson

Stop paying the higher ups and pay the ones that do the real work . Again after 30 years I’ve heard this.

Darlene Bales

B.S.

Mark Pearl

blah blah

Alex Siewert

Total! BS!

Sherry Holcomb

B S

Jay Schreiber

Contract negotiations coming up for us so they are setting the table for their advantage.

Sherry Holcomb

That was my first thought and I see I wasn’t alone. I wonder why our union doesn’t throw out some data to refute it?

Matthew Chavez

They do. Rather frequently, at that.

Sherry Holcomb

Ive never heard or seen it written. Can you give me a place to find such resources?

Debbie Gibbons

BS…All the money Amazon is pay the Post Office and not paying the carriers

Angelia Smith

Exactly! My route hasn’t been counted in 4+ years. Parcels have at the least tripled.

Debbie Gibbons

Mine to

Orlando Toste

BS !!

Elaine Giglio

why is it the usps is losing money when we are working late to get the mail out…my guess if they are losing money they are not charging enough for the bulk mail…

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