Postmaster General Vows to ‘Consider’ Critiques as USPS Announces Tanking Performance in Recent Months
The U.S. Postal Service saw improved financial results in its most recent quarterly filing, though its on-time delivery plummeted and significant concerns about its financial state persisted.
USPS lost just $82 million in the second quarter of fiscal 2021, a marked improvement over the same quarter the previous year. When excluding inflationary adjustments to the agency’s workers’ compensation liabilities that are outside of management’s control, however, the agency experienced $1.7 billion in losses from January through March compared to $1.9 billion in that period of fiscal 2020.
Total revenue jumped 6% over the same period last year, led by a 34% spike in package business. The shift from regular mail—where plummeting volume persisted—to packages continued to add costs to the postal system, as packages entail additional personnel and transportation costs.