OREANDA-NEWS. Ongoing stability in the labor market has U.S. personal bankruptcy filings set for a fifth straight annual decline, according to Fitch Ratings in its latest U.S. ABS chart of the month.

Through the third quarter of this year, total bankruptcy filings are approximately 11% lower than the same period in 2014. If this pace of decline continues, personal bankruptcy filings are poised to register their lowest levels in eight years.

'Stability in the labor markets and consumer deleveraging continues to drive personal bankruptcy filings lower,' said Managing Director Michael Dean. The Conference Board Consumer Confidence Index rose for the second straight month, reaching 103 last month. These developments are buoying credit card ABS performance, with chargeoffs and delinquencies still at or near their record lows.