The US Postal Service posted a net operating loss of $451 million dollars in January after taking a charge of $458 million for the future retiree health benefit trust fund created by the 2006 PAEA law. The “loss” brings the year to date USPS deficit to $781 million. If it weren’t for the PAEA charges and the paper revaluing of USPS workers comp liabilities, the USPS would be showing a year to date profit of $248 million. Total mail volume for January was down 1.3% compared with the prior year. Year to date mail volume is up 0.9% compared with the same period last year (SPLY). Workhours were down by 3.3% for the month, or about 4 million fewer employee hours. Year to date workhours are down by 2.4%, or about 9 million hours compared with SPLY.