IFO Releases
OPEIU Wage Contract Analysis
December 07, 2023 | Wage Contracts
This letter provides a fiscal impact analysis of the collective bargaining agreement between the Commonwealth of Pennsylvania and the Office and Professional Employees International Union, Healthcare Pennsylvania (OPEIU).
PDA Wage Contract Analysis
December 07, 2023 | Wage Contracts
This letter provides a fiscal impact analysis of the collective bargaining agreement between the Commonwealth of Pennsylvania and the Pennsylvania Doctors Alliance (PDA).
SEIU Healthcare Wage Contract Analysis
December 06, 2023 | Wage Contracts
This letter provides a fiscal impact analysis of the collective bargaining agreement between the Commonwealth of Pennsylvania and the Service Employees' International Union (SEIU) Healthcare Pennsylvania.
ISSU Wage Contract Analysis
December 06, 2023 | Wage Contracts
This letter provides a fiscal impact analysis of the collective bargaining agreement between the Commonwealth of Pennsylvania and the Independent State Stores Union (ISSU).
Natural Gas Quarterly Update, 2023Q3
December 04, 2023 | Energy
This document uses data from the Pennsylvania Department of Environmental Protection, the U.S. Energy Information Administration and Natural Gas Intelligence to provide a quarterly update on recent trends in production volume, well counts and average spot prices.
Tags: gas, natural, production
Summary and Analysis of Annual SERS Stress Test Report
December 01, 2023 | Pension Analysis
Pursuant to Act 128 of 2020, the IFO issued a report that summarizes results from the State Employee Retirement System’s (SERS) recent stress test report. Based on SERS baseline projections, the IFO projects that over the next 20 years, Commonwealth agencies will use $24.9 billion in General Fund revenues (2.0%) for employer pension contributions. Relative to baseline projections, the report also summarizes the impact from scenarios that allow investment performance to exceed and fall short of baseline assumptions and the issuance of an 8.3% cost-of-living adjustment (equal to a 13th monthly annuity each year).
November 2023 Revenue Update
December 01, 2023 | Revenue & Economic Update
The Commonwealth collected $3.06 billion in General Fund revenues for November, an increase of $107.9 million (3.7%) compared to November 2022 (adjusted).
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.
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.
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.