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

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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

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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

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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.


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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

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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

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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

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