Fri. Mar 1st, 2024

First class mail falls to lowest since 1968

November 16, 2023

READ FULL ARTICLE AT » Reuters

WASHINGTON, Nov 14 (Reuters) – (This Nov. 14 story has been corrected to change the first-class mail volume figure to say 46 billion, not 46 million, in paragraph 5)

The U.S. Postal Service on Tuesday reported a $6.5 billion net loss for the 12 months ending Sept. 30 and said it will not breakeven next year as first-class mail fell to the lowest volume since 1968.

The Postal Service said revenue fell 0.4% to $78.2 billion results. U.S. Postmaster General Louis DeJoy said the loss includes $2.6 billion in inflation costs “above what we projected and what we were able to recover… We are not happy with this result.”

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