According to a report just released by FICO, Inc., US consumers are sinking to new credit lows. The credit score bell curve, traditionally skewed above 700, has now drastically shifted below 599. In data released on MyFICO.com, figure show that over 25% of consumer (an estimated 43.4 million people) now have credit scores below 599.

The explanation seems to be the millions of people losing jobs, underemployed, or hit with crisis that have had to rely on debt to sustain their spending.

This report would indicate that this lifeline is running out.

Andrew Jennings, chief research officer for FICO, commented in an interview with the Associated Press that 2.4 million people have moved into the lowest credit score category in the last two years–representing unprecedented credit risk volatility.

Of course, this may not be the worst of it as unemployment and underemployment continue to rise. The Department of Labor reports more than 26 million people still out of work or underemployed and millions still facing foreclosures. These hardships are likely to continue this downward spiral in consumer credit scores.

However, the consumer market may not be completely without a silver lining. The same FICO data reveals an increase in the number of people with FICO scores above 800. This leads experts to hypothesize a general trend (where able) of consumers cutting spending and paying down debt in the face of recession.

The recent volatility in consumer credit risk seems to be changing the shape of the curve. The traditional bell curve is turning into a barbell shape, with consumers either having very bad or very good credit.

This fact will certainly mean that those in the middle, with moderate credit scores of 650-699 are likely to be squeezed out by lenders’ tightening credit standards. The reality is middle-class America, the backbone of any economic recovery is going to be challenged to find affordable housing, autos, and insurance ahead.

This is going to make it more important than ever to learn to manage and improve your credit score.