Delinquencies on credit card debt rose to an all-time high in the first quarter as the unemployment rate soared, Reuters reported.

The rate of consumer loan payments at least 30 days late rose to 3.23 percent from 3.22 percent in the fourth quarter of 2008, the highest percentage recorded since the American Bankers Association (ABA) began tracking the data in 1974. Late payments on home equity loans also set a record at 3.52 percent, compared with 3.03 percent in the previous quarter, and rose to 1.80 percent from 1.46 percent on lines of credit.

“The biggest driver is job losses,” said ABA Chief Economist James Chessen in an interview. “When people lose their jobs or work fewer hours, it makes it that much harder to meet their obligations. Unfortunately, we’re going to see higher job losses in the next year, and I expect elevated delinquencies.”

The news comes as banks prepare to present their second-quarter financial results starting next week.

U.S. consumers had $939.6 billion of revolving credit outstanding at the end of March, according to an estimate of credit card debt based on Federal Reserve data.

Meanwhile, delinquencies on direct auto loans rose to 3.01 percent from 2.03 percent, late payments on mobile home loans rose to 3.7 percent from 2.96 percent, delinquencies on personal loans increased to 3.47 percent from 2.88 percent and recreational vehicle loan delinquencies increased to 1.52 percent from 1.38 percent.

Delinquencies decreased on auto loans made through dealers, marine loans and property improvement loans.