Relevant:
- Rise in US Credit Card Delinquencies may be Peaking
- US credit card delinquencies stabilize but unemployment expected to boost chargeoff rate
- Unemployment Spurs Rise in US Subprime Delinquencies
- Credit Card Delinquencies, Chargeoffs Rise Again; Bank of America Has Credit Card Headaches
- Delinquencies and Defaults Up, Up and Away
2008-03-27 — researchrecap.com
They say that unemployment may simply rise to validate the rise observed in delinquencies, but it looks to us like delinquencies are accelerating faster than unemployment now. That would jibe with the obvious trend of people ending up in a cash crunch whether or not they become unemployed.
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