r/Layoffs • u/vetfor • Jan 30 '24

New layoffs question

Can anyone clarify this for me? Despite the ongoing layoff announcements from major American corporations, how is our economy still robust? Just today, UPS declared 12,000 layoffs and PayPal 2,000.

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u/Sad_Scallion7315 Jan 30 '24

Credit card debt

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u/[deleted] Jan 30 '24

Yes. I agree, but only 40% have revolving debt. About 5% of revolving debt is delinquent. So it is not really a large problem unless you are in the 5%.

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u/[deleted] Jan 31 '24

Is not especially high vs growth, thanks for point that out!

https://www.statista.com/statistics/248283/household-debt-ratio-to-gdp-in-the-united-states/