The Postal Service's August financial results were recently released and they were, as expected, not good. Mail volume was down 13.2% compared to the same period last year and revenue was down 8.3 %. Once again every class of mail experienced volume decline with Standard Mail leading the way at 18.4%. The result was a loss of $721 million in August, bringing the year-to-date loss to $6.2 billion. There was however a 12.1% reduction in total personnel and compensation expenses compared to the same period last year. Despite this one month reduction year-to-date total personnel and compensation expenses are down only 1.3% over the same period last year. Non-personnel expenses, a much smaller slice of the pie, were down 5.7% for the month and are down 8.2% year to date.
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