IFO Releases

Labor Market Update - June 23, 2021

June 23, 2021 | News Stand & Other

The IFO released its second edition of a new monthly publication that tracks conditions in the state labor market. Despite significant federal stimulus and job openings/quit rates at series highs, the May payroll jobs data do not reveal any reduction in pandemic-related job losses. 

Tags: labor, market, update

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Official Revenue Estimate FY 2021-22

June 22, 2021 | Revenue Estimates

The Independent Fiscal Office (IFO) released its official revenue estimate for FY 2021-22. Updated estimates for FY 2020-21 are included.


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Economic and Revenue Update

June 17, 2021 | News Stand & Other

Director Matthew Knittel provided a brief economic and revenue update for the PACP Chamber Day.

Tags: budget, economic, presentation

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June 2021 Economic Update

June 17, 2021 | Revenue & Economic Update

The June edition of our Monthly Economic Update includes links to recent articles and reports that provide insight into state or national economic, demographic and fiscal trends.

Tags: economic, monthly, news

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2021 Demographics Outlook

June 15, 2021 | News Stand & Other

Section 604-B (a)(2) of the Administrative Code of 1929 specifies that the Independent Fiscal Office (IFO) shall “provide an assessment of the state’s current fiscal condition and a projection of what the fiscal condition will be during the next five years. The assessment shall take into account the state of the economy, demographics, revenues and expenditures.” This report fulfills the demographics obligation for the IFO’s release of the Economic and Budget Outlook for Fiscal Year 2021-22 to 2026-27.

Tags: demographics, five, outlook, year

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Impact Fee Update and Outlook 2021

June 09, 2021 | Natural Gas

This update examines 2020 impact fee collections and provides an outlook for 2021. The Commonwealth collected $146.3 million in impact fees for 2020, a $54.1 million decrease from 2019 and the lowest amount since the fee's inception.

Tags: gas

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Labor Market Update- June 2021

June 03, 2021 | News Stand & Other

The IFO issued a new monthly publication that tracks the state labor market. The data show that the pace of payroll jobs creation has stagnated despite significant federal stimulus.

Tags: labor, market, update

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May 2021 Revenue Update

June 01, 2021 | Revenue & Economic Update

The Commonwealth collected $3.95 billion in General Fund revenues for May, an increase of $1.84 billion (87.5%) compared to May 2020.

Tags: estimates, monthly, revenue

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