This is a rehash of a rehash of that other article somewhere else on the Lemmys from the other day. This huge percentage of people falling behind amounts to a ~.5% increase from 2020->now. POINT FIVE PERCENT from like 5.5% to 6%.
NOTES: Delinquency is defined as the share of people having credit card accounts with debt that is 30 days or more past due.
So like, people could have been super distracted because America is dying, or it’s summer and they’re traveling, or the news made them forget, or whatever, and it just happened to make a hiccup that looks scary when put in percent of percent terms.
Actually that’s called a 0.5 percentage points increase and a 9 percent increase (because 6 ÷ 5.5 = 1.09). The distinction is important, but even the media gets it wrong often.
This is a rehash of a rehash of that other article somewhere else on the Lemmys from the other day. This huge percentage of people falling behind amounts to a ~.5% increase from 2020->now. POINT FIVE PERCENT from like 5.5% to 6%.
Link closer to source data: https://archive.is/345KW
Also from that link:
So like, people could have been super distracted because America is dying, or it’s summer and they’re traveling, or the news made them forget, or whatever, and it just happened to make a hiccup that looks scary when put in percent of percent terms.
Actually that’s called a 0.5 percentage points increase and a 9 percent increase (because 6 ÷ 5.5 = 1.09). The distinction is important, but even the media gets it wrong often.