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The U.S. Postal Service (USPS) incurred a significant increase in its losses this fiscal year, as revenues jumped but volumes dipped.

Net loss for 2024 fiscal totaled $9.5 billion, up from $6.5 billion last year, said a Nov. 14 statement from the agency reflecting its earnings. The $3 billion increase in losses occurred at the same time the agency had a slight revenue increase from $78.18 billion to $79.53 billion. The revenue uptick was not supported by an increase in mail volume, which fell from 116 billion units to 112 billion units.

According to the USPS Office of the Inspector General, the postal agency “relies almost entirely on the revenue generated from postage” to cover the costs of delivering mail.

The jump in net loss occurred despite an increase in postal rates by the agency. This increase, implemented in January and July, was done in accordance with the 2021 Delivering for America (DFA) plan that calls for such annual hikes.

The 10-year plan is reportedly aimed at boosting USPS’s financial situation.

The postal agency said that more than 80 percent of the loss incurred this year was due to factors “outside of management’s control,” such as adjustments related to employees’ non-cash compensation, according to the report.

Postmaster General Louis DeJoy said the organization’s pricing and product strategies “are continuing to improve our revenue picture and fuel market share gains in our package business.”

Nonprofit advocacy Keep US Posted criticized the USPS for its large losses, blaming it on the agency’s focus on the DFA plan. The $9.5 billion loss is more than $3 billion above projections, said the nonprofit’s executive director, former congressman Kevin Yoder. . .

>The U.S. Postal Service (USPS) incurred a significant increase in its losses this fiscal year, as revenues jumped but volumes dipped. >Net loss for 2024 fiscal totaled $9.5 billion, up from $6.5 billion last year, said a Nov. 14 statement from the agency reflecting its earnings. The $3 billion increase in losses occurred at the same time the agency had a slight revenue increase from $78.18 billion to $79.53 billion. The revenue uptick was not supported by an increase in mail volume, which fell from 116 billion units to 112 billion units. >According to the USPS Office of the Inspector General, the postal agency “relies almost entirely on the revenue generated from postage” to cover the costs of delivering mail. >The jump in net loss occurred despite an increase in postal rates by the agency. This increase, implemented in January and July, was done in accordance with the 2021 Delivering for America (DFA) plan that calls for such annual hikes. >The 10-year plan is reportedly aimed at boosting USPS’s financial situation. >The postal agency said that more than 80 percent of the loss incurred this year was due to factors “outside of management’s control,” such as adjustments related to employees’ non-cash compensation, according to the report. >Postmaster General Louis DeJoy said the organization’s pricing and product strategies “are continuing to improve our revenue picture and fuel market share gains in our package business.” >Nonprofit advocacy Keep US Posted criticized the USPS for its large losses, blaming it on the agency’s focus on the DFA plan. The $9.5 billion loss is more than $3 billion above projections, said the nonprofit’s executive director, former congressman Kevin Yoder. . . [Source](https://www.zerohedge.com/political/usps-incurs-95-billion-loss-despite-raising-stamp-prices)

(post is archived)

[–] • 1 pt

'Post' should be removed from government oversight. All these fuckers do is 'lose' my shit, or it takes 2 weeks to go coast to coast for an ungodly amount in shipping cost. I've had a piece take over 3 months to travel from Michigan to Ohio... worthless jiggaboos behind the counter - suckling the government teet, as a jiggaboo will

[–] • 1 pt

Advertisement mail should cost $1 per mailing. If a citizen opts out and some grace period elapses (some things are still in the mail / queue etc) a company should be fined $10,000 per mail delivered to a person who opted out. Corporations should be charged a hefty premium. Any attempts at using loop-holes or abusing the system for private profit should carry a fine of 300% generated revenue from said abuse.

[–] • 2 pts

The first thing I do when I get my mail is to sort the wheat from the chaff. 99% of my junk mail goes straight into the trash. I'd swear it looks like 90% of my snail mail is junk and mailed at a cost as low as 0.1¢ per item by the corporatists. I still pay my bills by check for fear of on line hackers, that's why I do expect 8-10 important pieces of mail each month but end up getting 100 pieces overall.

Totally agree, the bulk mail rates need to be increased dramatically. The corporatists are killing a 150 year old US institution, a critical infrastructure, by flooding it with so much trash at discount rates that they are jeopardizing USPS original key functions. Cloven-Piven strategy, overload it (((and make money doing it))).

[–] • 1 pt

I've had so much trouble with USPS since I moved here. They refuse to deliver to my complex. When I called to ask about it, the rude person said they 'don't have to deliver nothing' and that I should get a PO box if I don't want my stuff misdelivered, no delivered, or thrown away.

They was up books and stuff them into my tiny apartment mailbox even though we have parcel lockers. They say they delivered thing and there's no sign of them. The nice mailman retired and now the new one is a jerk and just leaves notices saying to pick up mail from the post office. I go and get it and it's a pile of junk mail.

When I was avoiding an ex I lived with in Nevada, I was out and about more and just paid to have the UPS store get my mail and set it to forward. The Indians who owned the place knew what time I would be there and had everything in plastic bag for me on the Tuesdays and Fridays id pick stuff up. They were always nice even when listening to loud Bollywood movies.

I know I should just do the UPS store again but it's stupidly expensive out here and I rarely go out so it would be a pain to get over there twice a week. Plus I have a feeling USPS would still screw up somehow.