News & information
Economics blog
This blog contains information on the postal sector and the broader economy. It includes NALC Research blog posts and links to posts created by other organizations that may be useful to letter carriers in their advocacy efforts.
Federal Reserve increases target interest rates
On June 13, 2018, the Federal Reserve raised the target federal funds rate range by another 0.25%, bringing the target range to 1.75%-2.00% (up from 1.50%-1.75%).
View PostUnemployment holds at 4.1 percent but problems remain in the labor market
The data released on Friday points to continuing lags in the labor market and its implications for unemployed workers even in the so-called economic expansion.
View PostCPI rises slightly as the Federal Reserve raises rates
The release of the November CPI is the latest data that informed the Federal Open Market Committee of the Federal Reserve to raise their benchmark short-term interest rate
View PostUnemployment holds steady at 4.1 percent in November with room for wages to grow
The overall picture for November 2017 is a continuation of the positive news over the last year of rapidly decreasing unemployment greater than many projections by economists.
View PostConsumer sentiment is at its highest levels since January 2004
The index of consumer sentiment was 98.5 for November 2017, down 2.2 percent from October 2017 but an increase in 5.6 percent from November 2016.
View PostConsumer prices rise at a slower rate in October mostly due to significant drops in energy prices
The Bureau of Labor Statistics released the Consumer Price Index for All Urban Consumers (CPI-U) today.
View PostUnemployment decreases in October, but disparities among workers and sluggish wage growth persist
While the news for this month is positive, there are indications that the unemployment rate has fallen largely because workers are leaving the labor force, not because new jobs are being created.
View Post“Shopportunity” knocks
USPS just announced that parcel volume is expected to increase by 10 percent compared with the same holiday period last year. Letter carriers have played an integral role in delivering parcels in the United States since the early 1900s.
View PostInequality series: New report by the Century Foundation explodes myths about low-wage work and offers a vision for the future
A new report by The Century Foundation lays out a framework for how to create an economy that works for people other than top income earners.
View PostBLS employment projections show increase in sectors plagued by low-wage jobs
BLS’s employment projections for 2016-2026 expects employment to increase by 11.5 million over the next decade. Most of this new growth in jobs likely will come from the health care industries and their associated occupations.
View PostCPI increases slightly in September, driven mostly by increases in gasoline costs
A variety of factors can lead to increases in the price of gasoline, but in this case the increase is most likely due to the recent hurricanes in the Gulf of Mexico region.
View PostUnemployment decreases slightly in September, but underemployment persists
The Bureau of Labor Statistics has released the employment numbers for September 2017. The data points to the lingering problem of underemployment in the post-recession landscape.
View PostImportant e-commerce implications for USPS
E-commerce is a rapidly growing percentage of retail sales. This has important implications for USPS as package delivery becomes an increasingly vital part of business operations and revenue.
View PostDepartment of Commerce releases latest GDP estimate
While Gross Domestic Product is a useful measure of economic activity, it is lacking in a variety of areas.
View PostFed warns worsening inequality could hinder long-term economic growth
Much of the income gains and job growth since the recession have been in metropolitan areas, leaving much of rural America behind.
View PostCensus Bureau data show improving income—but increasing inequality
While the media’s portrayal of new numbers from the Census Bureau has been very upbeat, the last couple of years of income growth is not nearly enough to counteract the income losses suffered by most Americans during the Great Recession.
View PostCPI increases slightly in August, driven mostly by gasoline and shelter costs
The Consumer Price Index for all Urban Consumers has remained in the range of 1.6 to 2.3 percent on an annual basis since June 2011.
View PostNew OIG report sheds light on post office usage, especially among the young
A new study released this week indicates that there are more customers who visit post offices than official statistics show.
View PostNAFTA renegotiations show differences between Canadian and U.S. wages and unions
Will Canada help end right-to-work?
View PostEconomics Blog: Unemployment creeps up in August
The Bureau of Labor Statistics today released its employment numbers for August 2017. The economy added 156,000 jobs, falling short of the 176,000 average for 2017.
View PostNew EPI report emphasizes the importance of unionization
A new study outlines the importance of unionization not only to the welfare of their own members, but to the wages and equality of all workers.
View PostOctober 2016: How the economy is doing this month
October 2016 job and unemployment figures, based on data from the Bureau of Labor Statistics, as reported by The Washington Post.
View PostState of Working America Data Library
The Economic Policy Institute has a great employment statistics website called The State of Working America Data Library, which contains information that may be of interest to letter carriers who are looking at economic trends.
View PostFiscal 2016 Financial Results – 2nd Quarter & 6 Months
USPS had another operating profit for the second quarter of FY 2016, continuing the trend of strong operating profits. This brings year-to-date FY 2016 operating profits to over $1.8 billion.
View PostUSPS’ YTD 2016 results: $1.8 billion operating profit
This year’s year-to-date operating profit is significantly higher than projected, and higher than the Postal Service’s operating profit at the same time last year.
View PostUSPS’ results for Oct. & Nov.: $772M operating profit
For the first two months of Fiscal Year 2016’s first quarter (October and November of 2015), the U.S. Postal Service had a $772 million operating profit.
View Post2015 USPS results: $1.2B operating profit
The U.S. Postal Service had a $1.2 billion operating profit in Fiscal Year 2015, the second consecutive year where operating profits went over $1 billion.
View PostUSPS results through August 2015
The U.S. Postal Service has published its financial results for the month of August 2015 and its year-to-date results through August 2015.
View PostUSPS results through July 2015
The U.S. Postal Service recently published its results for the month of July 2015 and its year-to-date results through July 2015.
View Post80th Anniversary of Social Security
Today, Social Security is celebrating its 80th anniversary.
View PostUSPS $1.2B operating profit this year
On Monday, USPS released its financial results for the fiscal third quarter of, and the first nine months of, 2015. So far, things are looking good for fiscal 2015.
View PostMedicare celebrates 50th anniversary
On July 30, 1965, a landmark amendment to the Social Security Act was enacted, establishing the Medicare and Medicaid programs.
View PostFight for $15
There was some good news yesterday in the “Fight for $15.”
View PostUSPS results through May 2015
The U.S. Postal Service recently published its results for the month of May 2015 and its year-to-date results through May 2015.
View PostUSPS results through April 2015
The U.S. Postal Service recently published its results for the month of April 2015 and its year-to-date results through April 2015.
View PostECONOMICS BLOG: USPS delivery points
The Postal Service continues to see delivery point growth.
View PostLessons learned from Whistl’s troubles
Last week, a private mail delivery company in the UK called Whistl announced it was suspending delivery operations, on the heels of its loss of a private equity investor’s funding.
View PostExpand Social Security
In this video, economist Robert Reich explains why expanding Social Security is important and how expanding it could be done—all in under 3 minutes.
View PostThe Postal Service’s fiscal year, so far
On Friday, May 8, the Postal Service reported its results for the fiscal second quarter (January–March 2015) and the first six months of the fiscal year (October 2014–March 2015).
View PostOIG report looks at local mail volume levels
National mail volume averages are not good indicators of what is going on at the local level.
View Post$1.4 billion Postal Service operating profit for first five months of FY 2015 (greater than operating profit for full FY 2014)
The Postal Service's operating profit continues to rise
View PostThe ‘right-to-work’ fight in Wisconsin: Bentleys vs. Harleys
Who will side with the Harley majority?
View PostJanuary 2015 Results: $195 Million Operating Profit for USPS
On Feb. 25, the U.S. Postal Service’s financial results for the month of January 2015 were posted on the Postal Regulatory Commission’s website.
View PostUSPS OIG: The absurdity of pre-funding and its role in USPS’ financial problems
What if your credit card company told you: “You will charge a million dollars on your credit card during your life; please enclose the million dollars in your next bill payment. It’s the responsible thing to do.” The U.S. Postal Service’s Office of the Inspector General says that’s what USPS’ requirement to pre-fund its long-term pension and healthcare liabilities is like.
View Post$1.1 billion operating profit in first quarter
USPS had a $1.1 billion operating profit in the first quarter of Fiscal Year 2015, up from $765 million in the same period last year and $144 million two years ago.
View PostIf oil prices stay where they are (or go lower), they will boost USPS
A sizeable decrease in the price of oil should translate into a positive impact on the Postal Service’s finances.
View PostPostal Service 1st quarter results release date announced (updated)
Mark your calendars: The Postal Service will report its first fiscal quarter results (the period from Oct. 2014 through Dec. 2014) on Friday, Feb. 6.
View PostTrade Promotion Authority (a.k.a. ‘Fast Track’)
Letter carriers may be hearing this week about something called Trade Promotion Authority, also known as “Fast Track.” It may be the most important issue for America’s unions in the first months of the new Congress.
View PostUSPS November 2014 results: $689 million YTD operating profit
Postal Service cash balance improves
Some news outlets continue to report that the Postal Service is “hemorrhaging cash.” While that line may add drama to a story, it is incorrect.
Minimum wage increases effective Jan. 1
In the 2014 mid-term elections, voters across the country resoundingly voted for increases in state or local minimum wages.
Consumer Reports ranks Postal Service as top package-delivery provider
Consumer Reports (December 2014) ranked the U.S. Postal Service as the top package-delivery provider.
U.S. package deliveries hit their peak
On average, the Postal Service delivers around 11 million packages per day to homes across the United States. This is nearly double the amount of home deliveries made by UPS and almost six times the home deliveries made by FedEx.
FY2014: First-Class Mail
Last year, the Postal Service forecast that First-Class Mail volume and revenue would decline. However, in 2014, volume actually declined by only about half of the Postal Service’s forecast and revenue rose by nearly 1 percent.
View PostOctober 2014 Results: $633 million YTD Operating Income
2014 Postal Service results: $1.4 B operating profit
The Postal Service had a $1.4 billion operating profit in 2014, a more than four-fold increase over last year’s $312 million operating profit.
First-Class and Standard Letter mail revenue
Some people would have you believe that the Postal Service continues to incur net losses because people don’t use letter mail anymore. However, a look at the 2014 Postal Service performance data doesn’t back that argument.
Postal banking
On Oct. 29, the Federal Deposit Insurance Corporation (FDIC) released an updated version of its National Survey of Unbanked and Underbanked Households.
What’s in a name? Controllable income is operating profit
In the third quarter of this year, the Postal Service decided to change the name of a key line in its quarterly results slide presentation. It changed the name of a line that was previously called “Operating Income/(Loss)” to “Controllable Income/(Loss).”
View PostImpact of a stalled minimum wage
The Economic Policy Institute has released a new report on the minimum wage. One of EPI’s charts really shows the impact of a stalled minimum wage.
Resources for USPS data
Recently, a good question came up at the NALC Leadership Academy about where to find data on the Postal Service. For those who are interested, a lot of information can be found on the websites of these organizations.
View PostComment on post office relocations
This week, the USPS Office of Inspector General put out a request for public comments about post office relocations.
View PostRaise the Floor Wisconsin (Minimum Wage Edition)
The Center on Wisconsin Strategy and the Economic Policy Institute published a report today advocating increasing the minimum wage.
The cause of a $1.6 billion swing
In mid-November the Postal Service will announce its full-year Fiscal 2014 financial results. At of the end of August 2014, it had a $1.3 billion operating profit, so the 2014 full-year operating results are on track to be very good.
Boost or Bust: Jobs and Places
This "Simply-Put" video provides a brief illustration of how to make the core points emerging from Topos research on communicating job quality.
August 2014 was another good month for the Postal Service
The PRC just posted the Postal Service’s monthly results for August 2014, and the year to date results through August. This is the last results report we will see before the Postal Service announces their full-year results around mid-November.
New Minimum Wage Map from Oxfam America
According to a new interactive map produced by Oxfam America, more than 25 million American workers would benefit from an increase in the minimum wage to $10.10.
April 2014 Results: $1.353 billion YTD Operating Income
Through April 2014, the Postal Service has reported $1.353 billion in operating income. This compares to a $131 million operating loss for the same period last year.