USPS Latest Quarterly Financial Report: Postal Finances Continue to Improve!

Postal Service Quarterly Finances ImprovingThe Postal Service just released its quarterly financial report, and I wanted to share this with you right away.

Postal finances are improving. Excluding the pre-funding expense, USPS would have recorded a $660 million profit. In addition, shipping and package delivery revenues increased dramatically—in the third quarter, shipping and packages revenue increased by 8.8%.

As NALC President Fred Rolando says, “The Postal Service’s latest quarterly report makes clear that its finances are rebounding strongly as the U.S. economy improves. Given this, it makes no sense to degrade service or dismantle a network that is performing well and that provides Americans and businesses with the world’s most affordable delivery network.”

Unfortunately, the congressional pre-funding mandate continues to be a burden. This quarter, pre-funding accounted for more than 100 percent of losses. Continuing this policy just doesn’t add up. No other company or organization in the country has to deal with this issue.

And pre-funding puts good postal jobs at risk by damaging USPS finances and limiting innovation.

We need to raise our voices together to tell the real story. Take a minute to spread the word about pre-funding.

Sincerely,

Jim Sauber, NALC Chief of Staff

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