Long-term unemployment is rising:
The number of long-term unemployed Americans jumped to 1.67 million in April, the highest since February 2022.
The number of Americans unemployed for 27 weeks and over has risen by ~600,000 over the last 2 years.
As a result, the share of… pic.twitter.com/HLdMQcEbaj
— The Kobeissi Letter (@KobeissiLetter) May 7, 2025
You mean like credit cards?
Nope…it's worse.*The survey also noted that 41% of BNPL users reported late payments in the past year, up from 34%.
*Gen Z is particularly likely to use BNPL for groceries, with 33% of users in this group doing so.
— floridanow1 (@floridanow1) May 7, 2025