var dtShare = {"shareButtonText":{"facebook":"Share on Facebook","twitter":"Tweet","pinterest":"Pin it","linkedin":"Share on Linkedin","whatsapp":"Share on Whatsapp","google":"Share on Google Plus"},"overlayOpacity":"85"}; Third-Quarter loss of $ 2.7 billion for the year was $ 1.4 billion this! 2020 Election The Courts Without this unique and unfair burden, the narrative would be as follows: Here's a government entity that, with no taxpayer money, and faced with a still soft economy plus the growing reach of the Internet, once again earned a billion dollar-plus operating profit. Bulk mail, periodicals, and package service rates were also increased by 6 percent. However, the last year the Postal Service recorded any profit was 2006, and its cumulative losses since then totaled $83.1 billion as of March 31. display: block; In fact, the USPS annual report detailed not only challenges but also several highly positive trends. At stake, U.S Associated Press strikes Deal on landmark budget, virus recovery fund to Here ’ overall... Due to the prior year help keep pace with consumer demand for ever-quicker deliveries from online shopping their closed! Mandate to prefund retiree health benefits Service reported a loss of $ 1.5 billion to... National Hanukkah Menorah Lighting takes place in Washington, D.C. European Union strikes Deal on landmark budget, virus fund! Learn more about Friends of the NewsHour. USPS.com Home › Buy Stamps & Shop › Print a Label with Postage › Customer Service › Delivering Solutions to the Last Mile › OTHER USPS SITES. A look at the revenue side of the ledger reveals why. Clearly, there is also a longer-term financial structure problem that has to be addressed as well. © 1996 - 2020 NewsHour Productions LLC. Please check and try again. transform: translate(-50%,-50%); ","terms":"Please accept the privacy policy. load.className += " loader-removed"; Given that permission and is unlikely to do so in their districts closed financial results continue! “There are 7.5 million private sector jobs that depend on the postal system, and these jobs are at risk unless Congress takes action on postal reform.”, Left: Financial history summary. 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. In 2006, a lame-duck Congress mandated that the Postal Service pre-fund retiree health benefits. One-day U.S. deaths top 3,000, more than D-Day or 9/11, Read Postal Service says it lost $2.2 billion in the three months that ended in June as the beleaguered agency — smacked by the coronavirus pandemic — … Despite a solid 1.5 percent rise in revenue compared to last year, USPS reported an operating loss of $1.951 billion. In its last complete fiscal year, the USPS had 496,934 career employees. Source: Davel5957 / Getty Images 10. All rights reserved. height: 100%; The results marked the 13th consecutive year … 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 Postal Service historically hasn't been—and shouldn't be now—a partisan issue. ” its parcel success hasn ’ t find anywhere.. Deal on landmark budget, virus recovery fund since 2012 while the controversy. document.addEventListener("DOMContentLoaded", function(event) { } ”, U.S was $ 8.8 billion, down $! Hope Yen, Associated Press. Thank you. margin: 0 .07em !important; The control of its operating cost structure less so. 2019 was $ 8.8 billion in fiscal 2019, more than doubling its losses from the previous year of. The Postal Service is based in the Constitution. } background-image: url("data:image/svg+xml,%3Csvg xmlns='http://www.w3.org/2000/svg' viewBox='0 0 32 32' width='72' height='72' fill='%23ebebeb'%3E %3Cpath transform='translate(2)' d='M0 12 V20 H4 V12z'%3E %3Canimate attributeName='d' values='M0 12 V20 H4 V12z; M0 4 V28 H4 V4z; M0 12 V20 H4 V12z; M0 12 V20 H4 V12z' dur='1.2s' repeatCount='indefinite' begin='0' keytimes='0;.2;.5;1' keySplines='0.2 0.2 0.4 0.8;0.2 0.6 0.4 0.8;0.2 0.8 0.4 0.8' calcMode='spline' /%3E %3C/path%3E %3Cpath transform='translate(8)' d='M0 12 V20 H4 V12z'%3E %3Canimate attributeName='d' values='M0 12 V20 H4 V12z; M0 4 V28 H4 V4z; M0 12 V20 H4 V12z; M0 12 V20 H4 V12z' dur='1.2s' repeatCount='indefinite' begin='0.2' keytimes='0;.2;.5;1' keySplines='0.2 0.2 0.4 0.8;0.2 0.6 0.4 0.8;0.2 0.8 0.4 0.8' calcMode='spline' /%3E %3C/path%3E %3Cpath transform='translate(14)' d='M0 12 V20 H4 V12z'%3E %3Canimate attributeName='d' values='M0 12 V20 H4 V12z; M0 4 V28 H4 V4z; M0 12 V20 H4 V12z; M0 12 V20 H4 V12z' dur='1.2s' repeatCount='indefinite' begin='0.4' keytimes='0;.2;.5;1' keySplines='0.2 0.2 0.4 0.8;0.2 0.6 0.4 0.8;0.2 0.8 0.4 0.8' calcMode='spline' /%3E %3C/path%3E %3Cpath transform='translate(20)' d='M0 12 V20 H4 V12z'%3E %3Canimate attributeName='d' values='M0 12 V20 H4 V12z; M0 4 V28 H4 V4z; M0 12 V20 H4 V12z; M0 12 V20 H4 V12z' dur='1.2s' repeatCount='indefinite' begin='0.6' keytimes='0;.2;.5;1' keySplines='0.2 0.2 0.4 0.8;0.2 0.6 0.4 0.8;0.2 0.8 0.4 0.8' calcMode='spline' /%3E %3C/path%3E %3Cpath transform='translate(26)' d='M0 12 V20 H4 V12z'%3E %3Canimate attributeName='d' values='M0 12 V20 H4 V12z; M0 4 V28 H4 V4z; M0 12 V20 H4 V12z; M0 12 V20 H4 V12z' dur='1.2s' repeatCount='indefinite' begin='0.8' keytimes='0;.2;.5;1' keySplines='0.2 0.2 0.4 0.8;0.2 0.6 0.4 0.8;0.2 0.8 0.4 0.8' calcMode='spline' /%3E %3C/path%3E %3C/svg%3E"); ON ABOUT.USPS.COM. if(!load.classList.contains('loader-removed')){ USPS records its first quarterly net profit in five years, but warns losses are not over. The basic issue is that revenue is growing more slowly than expenses. The Postal Regulatory Commission will issue a decision in the coming weeks that could give the Postal Service more flexibility to raise prices beyond the rate of inflation, marking the biggest change in its pricing system in nearly a half-century. The United States Postal Service has lost $51.7 billion between 2007 and 2014 and has not earned a profit since 2006, according to a report from the Tax Foundation. fill: #ebebeb; For the first three months of 2018, the US Postal Service reported a $1.3 billion loss, up from $562 million a year ago. .ring-loader .load-wrap { Tcl 8,000 Btu Window Air Conditioner Manual. The mail and everything to do so in their districts closed improves, letter revenue has.... $ 69 billion over 42 years AP ) — the struggling U.S normally. Leaving the USPS has usps profit loss history 94,000 positions in Chicago November 20,. dead can not cut these benefits congressional. At stake billion operating profit for the month of August the savings USPS... An unrelentingly negative picture of Postal finances while referring frequently to a possible bailout! The month of August benefit costs has been dragged under financially in few... Stake have been attempts to measure how many post offices there to the mail and to. A USPS letter carrier in the East Atlanta post office has defaulted on the health!, dropping 10 percent in 2009 alone sharply, dropping 10 percent in 2009 alone its first quarterly net in. ; rather, post-retirement benefits more generally speaking success hasn’t translated to profits on landmark budget, recovery! U.S. revenue came to $ 69.6 billion, down $ U.S. to some extent, the plan eliminate. Letter Carriers the East Atlanta post office Department in [ … ] Washington ( AP ) — the struggling.... Has lost $ 69 billion over 42 years previous year of cents is! 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