The U.S. Postal Service filed its May 2009 (unaudited) preliminary financial report today with the Postal Regulatory Commission. USPS reported a net income loss of $677 million (April 2009 was $385 million). The year-to-date deficit currently stands at approximately $3.4 billion. Mail volume was down across all classes with an overall total decrease of 19.9%. The Postal Service continues to reduce its workhours with Mail Processing and Customer Services/Retail showing the highest reduction of 16.1% and 16.6% respectively. See chart below (click on picture for larger view) or see full report (pdf) here:
