Deliquencies on the rise

As may be expected during hard times, deliquencies are in the increase.  NASDAQ.com reports that personal deliquencies are up almost .5% over the last quarter:

The nation’s jobless rate is said to be pushing credit card delinquency rates to new heights.

In statistics released this week by the American Bankers Association, 3.23 percent of all consumer loans are now 30 or more days overdue.

The numbers were more substantial when broken down among various categories. For example, home equity loan delinquencies increased to 3.52 percent, while 3.47 percent of all personal loans are now delinquent, up from 2.88 percent in the last quarter.

The unemployment rate still is on the rise. Today’s chart from the US Bureau of Labor Statistics showed the steady increase in unemployment for the group 16 years old and older.  That takes us up to 9.5% unemployment as of July 9, 2009.

Photo courtesy Flickr by rocksee
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