Releases

IFO Releases

PA Worker Earnings Catch Up to Inflation

November 30, 2023 | Economics and Other

The COVID-19 pandemic caused an inflation surge and wage pressures due to worker shortages and strong demand. This research brief uses the latest published data to examine how those outcomes affected real wages and earnings for the average or typical Pennsylvania private sector worker.

Tags: brief, earnings, inflation, research

Full Report

November 2023 Monthly Economic Update

November 29, 2023 | Revenue & Economic Update

The Monthly Economic Update provides data and insight on current trends that impact the state economy. 

Tags: economic, monthly, update

Full Report

Act 1 Index Reaches New High

November 28, 2023 | Property Tax

The Act 1 index limits the annual increase in school district millage rates. For FY 24-25, PDE recently certified an all-time high value (5.3%). This report examines the factors that drive that outcome and provides projections through FY 28-29.

Tags: act, index, one

Full Report

Five-Year Economic and Budget Outlook

November 15, 2023 | Revenue Estimates

The Independent Fiscal Office (IFO) released its five-year Economic and Budget OutlookClick the hyperlink above to view the report and presentations.

 

Full Report

2023 Wage Contracts Summary Table

November 09, 2023 | Wage Contracts

This table provides an up-to-date summary of the recent wage contracts analyzed by the IFO. Additional estimates will be provided after the relevant contract detail has been transmitted to the IFO by the Office of Administration.

Tags: contract, wage

Full Report

PLEA Wage Contract Analysis

November 09, 2023 | Wage Contracts

This letter provides a fiscal impact analysis of the collective bargaining agreement between the Commonwealth of Pennsylvania and the Pennsylvania Liquor Enforcement Association (PLEA).

Tags: analysis, contract, wage

Full Report

Economic and Budget Outlook

November 08, 2023 | Revenue Estimates

The IFO will release its long-term budget outlook for FY 2023-24 to FY 2028-29 on November 15 at 1:30 pm. Long-term issues that impact the outlook include the expiration of federal relief programs, a rapidly expanding 75+ age cohort and the depletion of surplus balances that currently generate significant interest income. See the announcement for a link to register for the presentation.

Tags: budget, economic, outlook, presentation

Full Report

October 2023 Revenue Update

November 01, 2023 | Revenue & Economic Update

The Commonwealth collected $3.25 billion in General Fund revenues for October, an increase of $121.4 million (3.9%) compared to October 2022.

Tags: estimates, monthly, revenue

Full Report

CIVEA Wage Contract Analysis

October 26, 2023 | Wage Contracts

This letter provides a fiscal impact analysis of the collective bargaining agreement between the Commonwealth of Pennsylvania and the Correctional Institution Vocational Education Association (CIVEA).

Tags: analysis, contract, wage

Full Report

Pennsylvania's Strained Nursing Homes

October 25, 2023 | Economics and Other

The IFO posted a new research brief that discusses placement waitlists and potential cost implications from the contraction in nursing home capacity since 2019.

Tags: brief, homes, nursing, research

Full Report