IFO Releases

July 2022 Monthly Economic Update

July 25, 2022 | Economics and Other

The July 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, update

Full Report

Where Did the Workers Go?

July 13, 2022 | Economics and Other

The IFO published a new research brief that examines the factors that caused the PA labor force to contract by 120,000 workers since the start of the pandemic. Factors identified include long-term demographic trends, care of elderly parents, cyber charter and home schooling, wealth accumulation and the elimination of the income-based phase-out for SNAP benefits that creates a punitive cliff for benefits that are twice the pre-COVID level.

Tags: brief, demographics, labor, research

Full Report

June 2022 Revenue Update

July 01, 2022 | Revenue & Economic Update

The Commonwealth collected $48.13 billion in General Fund revenues for fiscal year 2021-22, an increase of $7.74 billion (19.2%) compared to the prior fiscal year.

Tags: estimates, monthly, revenue

Full Report