When consumers have jobs, apparently they pay their bills! Who knew!? January unemployment was consistent with dropping December figures, falling an additional .2% to the .1% in employment gains the month prior to now stand at 8.3%. In conjunction, credit card delinquencies and chargeoffs remained low, falling from the December figure 31 basis points of 5.64% to 5.33% to the lowest point in nearly four years. The unemployment rate has been stuck at 9% or higher throughout 2011 while chrageoffs are consistently well below the 6% mark- compared to the figure 18 months ago- since current losses have been reduced by half. This also is 36% lower than the year ago figure of 8.37%, to which the COF rate has not since rebounded. The number of long-term unemployed accounted for 5.5 million of the unemployment rate for January, compared to the 5.6 million in December. Of this, unemployed adult men fell to 7.7% from 8%; Meanwhile, 60+ day delinquency trends have hovered around 2.30% for the last five months, registering 2.26% in January for the 23rd straight month of decline by 0.4%, indicating receivables associated with accounts more than 60 days delinquent expressed as a percentage of total receivables showed improvement. With the workforce indeed experiencing legitimate momentum, the ongoing rapid improvement in retail credit card payment performance has pushed the delinquency index by 50% below peak levels of 4.54%- experienced just two years ago.