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COVID-19: Back to Work

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Credit-Card Debt in U.S. Rises to Record $930 Billion

Serious delinquencies increase, particularly among younger borrowers

WASHINGTON—Credit-card debt rose to a record in the final quarter of 2019 as Americans spent aggressively amid a strong economy and job market, and the proportion of people seriously behind on their payments increased.

Total credit-card balances increased by $46 billion to $930 billion, well above the previous peak seen before the 2008 financial crisis, according to data released by the Federal Reserve Bank of New York on Tuesday.


Some cardholders, particularly younger ones, are running into trouble.

The proportion of credit-card debt in serious delinquency, meaning payments were late by 90 days or more, rose to 5.32% in the fourth quarter, the highest level in almost eight years, from 5.16% in the third quarter. The serious-delinquency rate for borrowers from 18 to 29 years old rose to 9.36%, the highest level since the fourth quarter of 2010, from 8.91%.

Read the full article here.

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The Decade When Numbers Broke Sports

In the 2010s, data and analytics changed the way games are played—for better and worse


Brad Pitt (left) played Billy Beane in ‘Moneyball,’ which was released in 2011, at the beginning of a decade that would change sports forever. PHOTO: COLUMBIA PICTURES/EVERETT COLLECTION

By Ben Cohen, Jared Diamond and Andrew Beaton

It wasn’t long ago that baseball players still bunted, football coaches were unapologetically conservative and basketball teams doubted Stephen Curry. It was only the beginning of this decade.

But what happened over the last 10 years inside MLB ballparks, NFL stadiums and NBA arenas rendered the sports almost unrecognizable. The games barely resemble the previous iterations of themselves. They have been reinvented in front of our eyes.

Read the full article here.