Posted on 01/27/2019 5:03:36 PM PST by E. Pluribus Unum
The price of Forever stamps is increasing by 10 percent, and will go from 50 cents to 55 cents, according to a United States Postal Service press release.
The First-Class Mail Forever stamp price will take effect Jan. 27, the federal agency said. NBC Bay Area reports that the change is the biggest jump in the history of the USPS.
Although the price is increasing, old Forever stamps remain valid for mailing a letter regardless of how much the price changes.
The price change will offset a $4 billion loss the federal agency experienced in 2018. According to NBC Bay Area, USPS said sales from shipping and packages soared 10 percent last year but there was an overall decline in revenue due to rising pay and higher transportation costs.
The first Forever stamp was issued in 2007 for 41 cents. In November, USPS announced that dancer Gregory Hines, singer Marvin Gaye and a “Hearts Blossom” stamp would be added to the Forever collection for 2019.
(Excerpt) Read more at nbcnews.com ...
Over 11 years, that works out to a continuously compounded rate of roughly 3.05%. Not great, not awful, but illiquid. You can only redeem your "investment" one letter at a time.
We try not to use the USPS! It’s just too bad it’s a Constitutional Requirement to have it at all.
1999 Was the “high watermark” for employment @ 787,538
2010 583,908
2014 Was the “lowest level of employment @488,300
2017 Backup to 503,103
Just think of what the retirement costs are here! And for all your tax dollars, you get a bunch of people who think that they’re doing you a favor to wait on you, and they love to make you wait in line. Delivering the main is secondary here. This is just one of the biggest, if not the biggest government jobs program in the country.
Lots of low-level military types who “put in their 20” in the service, then move to the USPS and get yet another retirement. It’s a disgrace!
Can you still go and buy a book of stamps (at the old price) at Safeway tonight?
“USPS is hobbled by its f’ked up management (your government.) “
Don’t forget it’s “staffed” with f*cked up people! Face it, it’s just a huge jobs program for lazy people.
“I pay all of my bills online through my bank and send emails for any correspondence or communication.”
Then you are most likely still using the USPS, because most bill pay work is done by the bank mailing out checks not doing electronic money transfers.
They announced the increase some time last year. It’s been so long since they announced it that I had forgotten about it.
You’re correct on the USPS “inside” folks.
The guy at your mailbox is just slugging along.
I meant to buy more but forgot....still got forever stamps left and I’ll just make them last forever....
Jees! The 50 forever stamps I have will probably run out when I’m 110. I hope my great grand children will acknowledge my passing.
I have noticed that almost all our packages now are delivered by the mailman. Must be it's not profitable for UPS, FexEx, DHL to do that part.
In 1974 I was just married fresh employee of the Social Security Administration. I had to start as a GS-5 tho the job was GS-10 without competitive promotions until you got to that level.
Our office was in a Federal Building owned by the post office.
One Saturday I was working overtime and a young janitor was cleaning. I got to talking to him and he was a Postal Grade 1. He was getting paid more than me and my job required a 4 year degree.
“The guy at your mailbox is just slugging along.”
My wife’s HS boyfriend got a summer job with the USPS delivering mail with one of those sorry-a$$ed Jeep thingies. He did his route “too fast,” came in, asked for another route to do, and was told by the Union Rep. not to make waves. So every day, he did his route then went home, parked the Jeep behind his parents home and waited for the time to pass so he could go clock out.
You may have missed it because the Lame Stream Media was too caught up in the latest BS emanating from (in no particular order):
Out of curiosity... was he unionized... but not you?
My uncle Lloyd came home from WW II and worked as a plumber in his hometown of Toledo, Ohio He applied to carry mail in a Toledo neighborhood and did duty for decades.
We were not union. Not sure about him.
Sorry, bad math. Stamps were 41 cents in 2007. Now they are 55 cents.
So, over 12 years, we need to find (1/12)*ln(55/41), which is more like 2.45%. I read your figure wrong.
And the average income was $3500 per year
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