The Skip Rate
18.5% — up from 16.7% a year ago, skipping bills to make ends meet
What is the current The Skip Rate?
The share of adults skipping bill payments — utilities, medical bills, minimum loan payments — is a behavioral measure of acute financial distress that captures households actively falling behind on obligations in real time. This metric draws from the Philadelphia Fed's Consumer Finance Institute survey data. Source: Philadelphia Fed Consumer Finance Institute.
The Skip Rate at 18.5%
Tracking improving relative to recent baseline.
Explore Further
How has The Skip Rate changed over time?
| Period | Value | YoY Change |
|---|---|---|
| Q1 2026 | 18.5% | +1.8 pts |
| Q4 2025 | 19.7% | +1.9 pts |
| Q3 2025 | 19.2% | +2.3 pts |
| Q2 2025 | 18.3% | +2.5 pts |
| Q1 2025 | 16.7% | −1.5 pts |
| Q4 2024 | 17.8% | −0.2 pts |
| Q3 2024 | 16.9% | +2.2 pts |
| Q2 2024 | 15.8% | +0.6 pts |
| Q1 2024 | 18.2% | +2.3 pts |
| Q4 2023 | 18% | — |
| Q3 2023 | 14.7% | — |
| Q2 2023 | 15.2% | — |
Frequently Asked Questions
What does the skip rate measure?
It measures the share of adults who report skipping or being unable to make required bill payments — including utilities, medical bills, and minimum loan payments — in the previous month. This is a behavioral rather than credit-report-based measure of financial distress.
Why is skipping bills significant?
Skipping bill payments is one of the first observable behaviors of financial distress, often preceding formal delinquency on credit accounts. It indicates that households are making triage decisions about which obligations to pay and which to defer.
Where does the skip rate data come from?
The Philadelphia Fed's Consumer Finance Institute surveys household financial behavior, including bill payment difficulties. This provides a real-time complement to credit-report-based delinquency measures, capturing distress that may not yet appear in bank call reports.
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