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Budget and Economic Update Presentation

Deputy Director Brenda Warburton and Revenue Analyst Jesse Bushman gave a presentation to the Marcellus Shale Coalition regarding the Commonwealth’s economic and budget outlook and recent natural gas trends.

Tags: budget, economic, employment, gas, presentation

PPP Loans to Pennsylvania Businesses

This research brief examines the impact of the PPP on Pennsylvania businesses by considering the number and type of firms affected, the potential employment impact and possible tax implications.

Tags: businesses, employment, ppp, tax

Labor Market Update - September 2021

The IFO released its monthly update that tracks the state labor market. The labor market contracted slightly in August on a year-over-year basis relative to a no-pandemic scenario. These data reflect the final month of federal unemployment compensation benefits.

09/20/2021

Economic Impact of Federal Stimulus

This research brief examines the impact of certain federal stimulus programs enacted in response to the COVID-19 pandemic on Pennsylvania residents and the economy. It estimates the total amount of federal stimulus provided directly to individuals by income group and considers the impact on employment, output, and whether the infusion of federal monies into the state economy is conducive to raising the state minimum wage.

05/10/2021

Senate Budget Hearing Request

The Independent Fiscal Office (IFO) responded to several questions raised at the office's budget hearing before the Senate Appropriations Committee. The questions relate to the impact of the COVID-19 pandemic on employment based on gender, net domestic migration for Pennsylvania and border states, and education sector employment for Pennsylvania and border states.

04/09/2021

PPP Loans to Pennsylvania Businesses

This research brief examines the impact of the PPP on Pennsylvania businesses by considering the number and type of firms affected, the potential employment impact and possible tax implications.

12/08/2020

SEIU Local 668 UC Referees Unit Wage Contract Analysis

The Independent Fiscal Office (IFO) has issued a cost analysis of the collective bargaining agreement between the Commonwealth of Pennsylvania and the Service Employees International Union (SEIU) Local 668 Unemployment Compensation (UC) Referees.

05/07/2020

PA Economy League Presentation

In partnership with the Pennsylvania Economy League, Director Matthew Knittel and Deputy Director Brenda Warburton will make multiple presentations on raising the state minimum wage to $12.00 per hour. The presentation examines the proposed minimum wage’s impact on employment, worker incomes, prices and state spending.

05/01/2019

State Economic Comparison

This research brief uses Real GDP, Personal Income and Payroll employment to compare economic performance in Pennsylvania to four adjacent states and the U.S. over the past decade.

09/30/2014

Revenue-Proposal-Analysis-2020-04.pdf

Minimum Wage Studies ...................................................................................................... 20 Border County Comparison ............................................................................................................ 23 Workers Affected by a $12 per Hour Minimum Wage ....................................................................... 25 Employment Impact from a $12 per Hour Minimum Wage ............................................................... 27 Income Effects for Affected Workers .............................................................................................. 28 General Price Impact ..................................................................................................................... 30 Impact on State proposal to increase the state minimum wage from $7.25 to $12.00 per hour. It discusses potential employment effects, income effects and implications for General Fund revenues and expenditures. Currently, no state has a $15.00 minimum wage that could

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Revenue-Proposal-Analysis-2019-03.pdf

by a $12 per Hour Minimum Wage ....................................................................... 19 Businesses Affected by a $12 per Hour Minimum Wage ................................................................... 22 Employment Impact from a $12 per Hour Minimum Wage ............................................................... 23 Income Effects for Affected Workers .............................................................................................. 25 General Price Impact ..................................................................................................................... 26 Impact on General proposal to increase the state minimum wage from $7.25 to $12.00 per hour. It discusses potential employment effects, income effects and implications for General Fund revenues and expenditures. Due to lack of current research, the section provides only general

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ACN_SB1071_A10803_text.pdf

miscellaneous provisions; and for health insurance for retired school employees, in the area of preliminary provisions. In Title 51: for employment preferences and pensions, in the area of military leave of absence. In Title 71: for boards and offices, in the contributions and mandatory pickup participant contributions plus any remuneration received as a school employee excluding reimbursements for expenses incidental to employment and excluding any bonus, severance payments, any other remuneration or other emolument received by a school employee during his school

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Revenue_Proposal_Analysis_2021_04.pdf

Minimum Wage Across States ....................................................................................................... 26 Recent Minimum Wage Studies ..................................................................................................... 28 Workers Affected by a $12 per Hour Minimum Wage ....................................................................... 29 Employment Impact from a $12 per Hour Minimum Wage................................................................ 32 Income Effects for Affected Workers .............................................................................................. 35 Impact on State Government Expenditures analyzes the proposal to increase the state minimum wage from $7.25 to $12.00 per hour. It discusses potential employment effects, income effects and implications for General Fund revenues and expenditures. Currently, no state has a $15.00 minimum wage

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SUT Exemption for Aircraft - January 2013.pdf

of the aircraft industry in Pennsylvania to other states and regions. The analysis also looks at aircraft industry employment trends in Pennsylvania over the past decade, as well as trends in surrounding states that have implemented policy changes related to the past decade. Part Four derives the static revenue impact from an SUT exemption for aircraft. Part Five analyzes employment trends across the states included in this analysis for statistical evidence of an increase in aviation related employment following the enactment of

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Revenue-Proposal-Analysis-2018-04.pdf

Minimum Wage ....................................................................................... 15 Minimum Wage Across States ................................................................................. 16 Workers Directly Affected by a Higher Minimum Wage ........................................... 19 Potential Employment Impact of a Higher Minimum Wage ...................................... 22 Income Effects for Affected Workers ........................................................................ 24 Potential Implications for General Fund Revenues .................................................. 26 A Final proposal to increase the state minimum wage from $7.25 to $12.00 per hour. It discusses potential employment effects, income effects and implications for General Fund reve- nues. The analyses contained in this report are based on descriptions from the

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Five_Year_Outlook_2020.pdf

6 Dependency Ratios .......................................................................................................................... 7 Labor Force Participation Rates ........................................................................................................ 8 Section 3: Economic Outlook .................................................................................................... 9 Federal Relief and Stimulus ............................................................................................................ 11 Payroll Employment ....................................................................................................................... 13 Labor Force Trends ....................................................................................................................... 16 Income Trends .............................................................................................................................. 17 Financial Trends ............................................................................................................................ 19 Section 4: Revenue Outlook .................................................................................................... 21 Personal Income Tax ..................................................................................................................... 22 not represent a formal economic forecast, but rather a controlled simulation. They assume that economic growth is consistent with full employment, historical labor productivity gains and inflation expectations. The economic simulation provides a neutral baseline that policymakers can use to assess

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Official-Revenue-Estimate-2020-06.pdf

5.0 percent (2021). Those amounts exclude compensation earned by self-employed and inde- pendent contractors.  Payroll Employment contracts by 453,000 (2020, annualized basis) and expands by 309,700 (2021) net jobs. These figures exclude self-employed and independent a contraction in 2009 and no growth in 2010. By contrast, the COVID-19 forecast has a sharp employment contraction followed immediately by jobs growth as businesses reopen and ramp up operations. Table 1.2 displays the U.S. economic forecast

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Revenue-Estimate-2020-05.pdf

5.5 percent (2021). Those amounts exclude compensation earned by self-employed and inde- pendent contractors.  Payroll Employment contracts by 495,300 (2020, annualized basis) and expands by 357,100 (2021) net jobs. These figures exclude self-employed and independent a contraction in 2009 and no growth in 2010. By contrast, the COVID-19 forecast has a sharp employment contraction followed immediately by jobs growth as businesses reopen and ramp up operations. COVID-19 2018 2019 2020 2021 Real GDP 2

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TC_2019_Film_Production_Tax_Credit_Report.pdf

FPTC Data ........................................................................................................................ 7 Section 3: State Tax Credit Comparison .................................................................................. 9 Film-Television Production Incentives Across States ........................................................................... 9 Industry Employment Trends ......................................................................................................... 11 Industry Output Trends ................................................................................................................. 13 Film Production Tax Credit Studies Across States ............................................................................. 15 Section 4: Economic Impact and Metrics ............................................................................... 17 Cost is administered and presents historical data. Section 3 compares state FPTCs based on key parameters and examines state employment and GDP trends for the film-television production industry. Section 4 presents the economic analysis and compares the findings to other FPTC

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TC_2021_Video_Game_Production.pdf

VGP Tax Credit Overview ........................................................................................ 5 Goals and Purpose .......................................................................................................................... 5 Administration ................................................................................................................................. 6 Historical Data ................................................................................................................................ 7 Section 3: State Comparison .................................................................................................... 9 Industry Employment Trends ......................................................................................................... 10 Literature Review .......................................................................................................................... 12 Section 4: Economic Analysis ................................................................................................. 13 Video Game Project Cost Profile ..................................................................................................... 13 Economic Impact........................................................................................................................... 14 Section of projects from the design to production phase and enhances the long-term viability of those firms.  Based on employment data for the Software Publishers subsector, it does not appear that the VGP Tax Credit has had a significant impact

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Single-Use Plastics Report-2020_06.pdf

IFO in December 2018. Primary responsibilities include state and local pension anal- ysis, retiree healthcare and other post-employment benefits and performance-based budgeting for agencies such as the Department of Community and Economic Development. Jesse Bushman, Revenue Analyst II Mr Cost Impacts Under Each Policy Scenario ........................................................................................ 28 Implementation and Compliance .................................................................................................... 29 Section 5: Manufacturers ........................................................................................................ 31 Retail Bag Manufacturing Employment and Production ..................................................................... 31 Manufacturer Response to Regulations ........................................................................................... 32 Petrochemical and Plastics Manufacturing from Natural Gas ............................................................. 33 Section 6: Net Economic Impacts ........................................................................................... 37

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RB-2015-04.pdf

Budget Of Ðice to determine the number of workers who may receive a higher wage and those who may lose employment. The Independent Fiscal Of Ðice issues this research brief to ful Ðill its statutory obligation to provide an economic analysis percent) from its current level. For a full‐time worker (40 hours per week) who earns minimum wage and retains employment, annual wage income would increase from $15,080 to $21,010, an increase of $5,930. However, those wage gains

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PBB_2020_DHS_REPORT_Final_Updated.pdf

29 Activity 9: TANF Eligibility and Benefits ............................................................................... 31 Activity 10: SNAP Eligibility and Authorize Benefits ............................................................... 35 Activity 11: Employment Supports ...................................................................................... 39 Activity 12: Child Support Enforcement ............................................................................... 43 Activity 13: LIHEAP Eligibility and Benefits........................................................................... 45 Activity 14: Other Program Eligibility/Benefits ...................................................................... 49 TANF eligibility and issue benefits 10 SNAP Eligibility and Authorize Benefits…………..Determine SNAP eligibility and authorize benefits 11 Employment Supports……………………………………….Support services for individuals to gain employment 12 Child Support Enforcement……………………………….Enforce and collect child support 13 LIHEAP Eligibility and Benefits

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Five_Year_Outlook_2021.pdf

Executive Summary ............................................................................................................ 1 Introduction ...................................................................................................................... 3 Demographic Outlook ......................................................................................................... 5 Dependency Ratios ......................................................................................................... 7 Economic Outlook .............................................................................................................. 9 Federal and State Programs ............................................................................................11 Payroll Employment .......................................................................................................12 Labor Force Trends ........................................................................................................14 Income Trends ..............................................................................................................17 Unspent Federal Stimulus ...............................................................................................18 Consumer Spending Patterns ..........................................................................................20 Inflation and Sales Taxes not represent a formal economic forecast, but rather a controlled simulation. They assume that economic growth is consistent with full employment, historical labor productivity gains and inflation expectations. The economic simulation provides a neutral baseline that policymakers can use to assess

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ACN_SB1_A01354_A01558_2017_06_03a.pdf

one of the three design options, and the election would be irrevocable, including for all future non-exempt periods of employment. The new plan options include two “side-by-side” hybrid retirement plans and a third stand-alone defined contribution (DC hybrid plans and the stand-alone DC plan, new members become vested in the employer contributions after three years of employment, and the employee’s contributions would vest immediately. Superannuation For the DB component of the hybrid plans (Classes T-G

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2002_drop_report.pdf

the country. As complex overlays of existing retirement plans, DROPs represent a means to permit retired public employees to continue employment, defer receipt of their pension benefits, and accumulate retirement savings. For public employers, DROPs represent a means to extend the provide an optional way to pay retirement benefits. They permit an employee who is eligible for normal retirement to continue employment and continue to receive wages or salary as usual. But, instead of deferring retirement, the employee’s regular monthly retirement

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PBB_2021_DHS_REPORT_ADDENDUM.pdf

measures for these pro- grams. DHS continues to work with the Department of Labor and Industry to collect and track employment Department of Human Services Overview | Page 8 outcomes related to various activities, including the individuals served by county mental health re- sponded that these metrics are not available. The available data from the U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics on average wage of select occupations related to County Child Welfare are detailed below. 2015 2016 2017

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2013_special_report_funding_and_reforming_public_employee_retirement_systems.pdf

measure retirement benefit adequacy, one method, long established as a benchmark in the financial planning field, has been a post- employment income that is roughly 70% to 80% of pre-retirement income. Historically, the three primary sources of retirement income have a defined benefit pension plan as of 2011. 20 Traditional defined benefit pension plans are designed to encourage long-term employment. They are not attractive to, or beneficial for, a transient workforce. Since many public sector job skills are not readily

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IFO - Economic and Budget Outlook - January 2012.pdf

from the recession. Numerous metrics demonstrate that the current recovery is the weakest since World War II. For example, payroll employment had reverted to its pre- recession peak within an average of thirty-six months following the previous three recessions (1981-82, 1991 and 2001). By comparison, current payroll employment remains 4.4 4 In August 2007, American Home Mortgage filed for bankruptcy, Ameriquest discontinued its mortgage operations and Countrywide

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2002_dbdc_report.pdf

the pension benefit to be provided at retirement is defined, while the contributions to be made over the period of employment are variable based on the experience of the pension fund. In a “defined contribution” (DC) pension plan, the contributions to be made over the period of employment are defined, while the pension benefit to be provided at retirement is variable based on the experience of the pension

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2006_surviving_spouse_healthcare_study.pdf

certain groups of Commonwealth employees from eligibility for the proposed benefit extension based solely upon membership in the SERS and employment by a REHP participating entity. PART I RETIRED EMPLOYEE HEALTH PROGRAM -3- Synopsis The provision of subsidized healthcare benefits to time of retirement if they are enrolled or are eligible to enroll in the AEHP on their last day of employment. Members of SERS are enrolled in REHP by a SERS retirement counselor at the time of retirement. A SERS member

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TC_2020_Research and Development Tax Credit.pdf

Credit ........................................................................................... 13 Impact on Corporate Effective Tax Rate .......................................................................................... 15 Research and Development Spending Trends .................................................................................. 16 Research and Development Employment Trends ............................................................................. 17 State Comparison Summary ........................................................................................................... 19 Section 4: Economic Analysis ................................................................................................. 21 Key Findings from RDTC Studies .................................................................................................... 21 Economic Impact........................................................................................................................... 23 Analysis Caveats that offer an R&D tax credit based on tax credit parameters and awards, R&D spending and employment in sectors that are R&D intensive. Section 4 contains a brief literature review, a discussion of the factors that affect the

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PBB_2020_DCED_REPORT.pdf

focus to actual jobs created and engage with the Department of Labor and Industry to verify all new employment at firms that receive economic development incentives. Currently, the department requires payroll compliance reports for only one in ten projects on a random basis across a small number of incentive programs. The employment impact from job creation programs administered by DCED is difficult to quan- tify accurately. Two factors drive this outcome. First, firms that

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Economic_and_Revenue_Update_2020_10.pdf

for CY 2021 has been revised down for all economic variables, with the exception of inflation. The latest employment data for CY 2020 reveal rapid labor market improvement in May, June and July, but much more modest gains in August and could be roughly 5 to 10 percent higher or lower. There is much more uncertainty regarding foregone self-employment income due to the pandemic, and the estimate assumes that 15 percent ($3.2 billion) of the self-employment income reported to

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TC_2019_New_Jobs_Tax_Credit_Report.pdf

qualify for the JCTC, a firm must agree to create at least 25 full-time jobs or increase employment by 20 percent within a three-year period. (A small business must agree to increase employment by at least 10 percent in the same period.) The average hourly wage (excluding benefits) for each newly-created job must be

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Public Employee Retirement Laws of PA Local Governments (2009).pdf

court holds the act to have been unconstitutionally applied to that individual. - 9 - Crimes Related to Public Office or Public Employment. The violations of the Crimes Code that are defined as “crimes related to public office or employment” when committed by a public official or employee through that individual’s public position or when that individual’s public

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PBB_2019_Criminal_Justice_Report.pdf

and weld- ing. Goals and Outcomes The goal of this activity is to prepare inmates for post-release employment and create opportunities for further attainment of education. The expected outcome of this activity is to reduce overall recidivism. Resources 13-14 within PA SCIs. They also compare the pass rate in the Commonwealth to prisons across the country. • Parolee employment rate. This measure represents the percent of the supervised population that is employed either full- or part-time at the end of

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Five_Year_Outlook_2019.pdf

Ratios Decline .............................................................................................. 8 Components of Population Change ................................................................................... 9 Population Growth Across States .....................................................................................13 Section 3: Economic Outlook .............................................................................................. 15 Employment Trends .......................................................................................................17 Wage Trends .................................................................................................................18 Consumer Trends ..........................................................................................................19 Housing Trends .............................................................................................................20 Section 4: Revenue Outlook ............................................................................................... 21 Revenue Versus Economic Growth ..................................................................................22 Personal a formal economic forecast, but rather a controlled simulation. They assume that economic growth is consistent with full employment, historical labor productivity gains and inflation expectations. The economic simulation provides a neutral baseline that policymakers can use to assess fiscal sustainability

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TC_2020_Keystone_Innovation_Zone_Tax_Credit.pdf

Foster innovation and facilitate commercialization of newly developed technology. Purpose Increase entrepreneurial activity to generate more output and employment in targeted, high- tech sectors in geographic zones across the state. Administration When a firm begins operations in a KIZ, they are 7.8% 17.9% 4.1% 5.1% Source: U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages. Calculations by IFO. Table 2.5 Average Growth in Number of Business Establishments: 2014 to 2018 Section 2: Overview of

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RB_2021_01_Economic_Impact_of_Federal_Stimulus.pdf

Provision 2: Expanded Unemployment Compensation Programs The federal government enacted expanded UC programs to provide relief to those who lost employment due to the pandemic or could not work due to health or other concerns. The programs extended the number of claimants may not reflect total income for individuals employed at multiple jobs, or who held multiple gig economy or self-employment positions. For example, roughly 60% of all PUA claimants reported annual income of less than $10,000. PUA claimant income

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Economic_and_Revenue_Update_2021.pdf

intentionally left blank. - List of Materials Included Independent Fiscal Office Overview.......................................................................... 1 Independent Fiscal Office Expenditures .................................................................... 2 2020 PA Payroll Employment: Change From Prior Year .............................................. 3 Subsector Detail: PA Employment Change From Prior Year ......................................... 4 Recent Pennsylvania Economic Trends ..................................................................... 5 Actual and Projected Federal Relief for Pennsylvania ................................................. 6 COVID-19

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Revenue_Estimate_2021_05.pdf

residents increases by 6.7% (2021) and 4.3% (2022) (excludes compensation earned by self-employed and independent contractors). ▪ Payroll Employment expands by 100,000 (2021, average for full year) and 80,000 (2022) net jobs (excludes self-employed and independent permanently raised wages for certain lower-wage workers. As discussed later in this section, the forecast projects that the average employment level in CY 2022 will be substantially lower than CY 2019. ▪ All schools and colleges fully reopen in the fall

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June_Revenue_Estimate_2021.pdf

increases by 6.4% (2021) and 4.3% (2022) (ex- cludes compensation earned by self-employed and independent contractors). ▪ Payroll Employment expands by 100,000 (2021, average for full year) and 80,000 (2022) net jobs (excludes self-employed and independent permanently raised wages for certain lower-wage workers. As discussed later in this section, the forecast projects that the average employment level in CY 2022 will be substantially lower than CY 2019. ▪ All schools and colleges fully reopen in the fall

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Senate Appropriations Response Letter 3-6-2020.pdf

middle and lower income groups by an even wider margin. March 6, 2020 Page 4 Senator Santarsiero requested information on employment gains and losses by sector for states that receive the highest net migration from Pennsylvania. Please refer to Tables 2A be adjusted in March 2020. Excludes independent contractors, self-employed and military. Source: U.S. Bureau of Labor Statistics, Current Employment Statistics (not seasonally adjusted). Employment Gains and Losses by Sector Table 2B: New York Share of Sector 2017 2018 2019

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RB_2020_12_PPP_Loans_to_PA_Businesses.pdf

examines the impact of the PPP on Pennsylvania businesses by considering the number and type of firms affected, the potential employment impact and possible tax implications. PPP Detail: Loans by Size, Type of Firm and Sector The SBA publishes state-specific Pass Throughs include S corporations, partnerships, sole proprietors and LLCs. Source: Small Business Administration. Independent Fiscal Office Page 3 PPP Employment Impact: Jobs Saved or Retained Although the program was enacted quickly in order to minimize job loss, new research finds

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RB-2017-5.pdf

sources are compared to three state economic metrics: (1) nominal gross domestic product (GDP), (2) personal income and (3) payroll employment. 2 A brief description of the three economic metrics is as follows:  Gross Domestic Product (GDP) The value of insurance plans, unemployment compensation and transfer income (e.g., Social Security and various medical and income maintenance benefits).  Payroll Employment The number of workers in the state economy. Excludes sole proprietors, military personnel, private household employees, unpaid volunteers, farm employees

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MER-2015-02.pdf

of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in monthly payroll employment based on latest three months of data. 2 Advance Retail Sales Year‐over‐year growth rate of retail sales based unemployed divided by the labor force. 1 Annual Net Job Gains (000s) Average year‐over‐year net increase in payroll employment based on latest three months of data. 2 Sales‐Use Taxes Year‐over‐year growth rate of all sales and

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PBB_2021_PennDOT_REPORT_ADDENDUM.pdf

5 National Transit Database, calculations by the IFO using manufacturing year and useful life benchmarks. 3 Calculations by the IFO. Employment and service population data are from PennDOT Annual Performance Reports. Activity 6: Large Urban Public Transit | Page 33 SEPTA Annual and those with disabilities) are provided reliable options to access life sustaining activities (e.g., grocery trips, medical appointments and employment). This includes shared-ride trips for individuals with disabilities and the elderly, and the free senior rides program that uses

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Budget_Hearing_Background-Feb2014.pdf

Table of Contents Independent Fiscal Office Overview 1 IFO Reports and Analyses 2 Published Revenue Estimates 3 The Pennsylvania Economy Employment 4 Employment – Job Gains / Losses 5 Inflation and Gasoline Prices 6 Consumer Debt 7 General Fund Revenues Sales and Use Tax – Nonmotor

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Response-Letter-10-7-2019.pdf

from Table 2.6 of the report. The top portion of the table displays the number of workers who retain employment and their incremental wage gains from moving the minimum wage rate to $12.00 per hour. The analysis estimates that 12.00 per hour (referred to as “directly affected” workers in the analysis) would receive a higher wage and retain employment. The analysis assumed that another 826,000 indirectly-affected workers earning between $12.00 and $14.99 would also receive

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MTR-2017-06.pdf

2.5% 1.6% 42.4% Dollar amounts are in millions. SERVICE SECTOR DRIVES JOB GAINS The Quarterly Census of Employment and Wages (QCEW), issued by the U.S. Bureau of Labor Statistics, publishes quarterly data on employment and wages by sector, as reported by employers. In June, state data were released for the fourth quarter of 2016

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MER-2014-09.pdf

of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in monthly payroll employment based on latest three months of data. 2 Advance Retail Sales Year‐over‐year growth rate of retail sales based unemployed divided by the labor force. 1 Annual Net Job Gains (000s) Average year‐over‐year net increase in payroll employment based on latest three months of data. 2 Sales‐Use Taxes Year‐over‐year growth rate of all sales and

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IFO_Testimony_Min_Wage_Feb_16_2021.pdf

would be happy to answer any questions that you may have. Independent Fiscal Office 3 February 2021 2020 PA Payroll Employment: Change From Prior Year Number (000s) Percent Apr Aug Dec Apr Aug Dec Total -1,062 -502 -472 -17.5% seasonally adjusted. December data are preliminary. Excludes self-employed. Source: U.S. Bureau of Labor Statistics, State and Metro Area Employment. 2020 PA Payroll Employment: Change from Prior Year Independent Fiscal Office 4 February 2021 Subsector Detail: PA Employment Change From

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IFO_Hearing_Packet_Feb2018.pdf

Publications 1 Summary of IFO Expenditures 4 Economics and Demographics U.S. Economic Trends 5 Pennsylvania Economic Trends 6 Pennsylvania Employment Gains and Losses 7 Pennsylvania Income Sources 8 State Metric Comparison 9 Pennsylvania Demographic Trends 10 State Migration Comparison 11 are preliminary. Consumer and student loan debt are per capita, and data for 2017 are through third quarter. 6 PA Employment Gains and Losses by Sector Change (000s) Sector 2007 2012 2017 2007-12 2012-17 Mining 21.1 37.0

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Senate_Appropriations_Committee_Response_Letter_2021.pdf

age women have departed the labor force since the onset of the COVID-19 pandemic and are not currently seeking employment. Since February 2020, the labor force participation rate for both men and women has fallen by 2.0 percentage points the labor force than men in the U.S. If none had exited the labor force but were instead seeking employment, the unemployment rates for both men and women would be roughly 9.0%. April 6, 2021 Page 2 Single month

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PBB_2020_DOH_REPORT_Final_Update.pdf

14 licenses for new products generated by the program between 2001 and 2014. Since FY 2014-15, Pennsylvania employment related to health research and med- ical science has increased 38 percent. Therefore, the injection of federal funds into the state economy 0 -- -- # Licenses 4 -- 1 0 1 -- -- # Grant projects receiving unfavorable rating 5 0 7 5 2 -- Statewide Indicators Employment in health research/medical science 5 5,780 6,840 6,750 7,690 7,970 -- Location quotient of health research employment

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MTR-2016-01.pdf

Dollar amounts are in millions. 2015 JOBS SURPASS 2007 LEVELS Calendar year 2015 marks the first year that Pennsylvania payroll employment surpassed its pre-recession level. Preliminary data for 2015 reveal average employment of 5.84 million payroll jobs, 43,000 higher than 2007. The underlying detail reveals very different trends across sectors

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2013 Appropriation Hearings Background Information.pdf

Contents Independent Fiscal Office Overview 1 Published Revenue Estimates 2 Major Federal Tax Changes for 2013 3 The Pennsylvania Economy Employment 4 Inflation and Gasoline Prices 5 Consumer Debt and Student Loan Debt 6 General Fund Revenues Sales and Use Tax Dividends -$0.55 billion ACA Provisions on High Income -$0.75 billion TOTAL -$7.70 billion 4 The Pennsylvania Economy - Employment • In February 2010, Pennsylvania employment was 255,100 below its pre-recession peak. Employment has recovered somewhat since then, but

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TC_2021_Entertainment_Economic_Enhancement_Program.pdf

purpose of the EEEP as follows: Goals ▪ Increase the number of rehearsals and concerts that take place in Pennsylvania. ▪ Encourage employment growth in the music and entertainment related industries. ▪ Expand Pennsylvania’s market share of national employment in this industry. Purpose ▪ Expand economic activity in the live entertainment and related sectors and bolster the purchase of local

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MTR-2016-10.pdf

paid to all employees in the state, it is useful to decompose it into two parts: (1) the growth in employment, or number of jobs (full and part-time, orange bars) and (2) the growth in the average annual wage (blue bars) paid to workers. During the prior expansion, employment increased at an average rate of 0.8% per annum, or nearly 50,000 jobs. With the exception of 2013

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Monthly_Economic_Update_February_2021.pdf

Possible reasons for stronger than expected cigarette and tobacco sales include: increased stress, unregulated breaks and remote working. Pennsylvania Private Employment Fell 14.6% in 2020 Q2 The U.S. Bureau of Labor Statistics released the Business Employment Dynamics for 2020 Q2. This reports gross private sector job gains and losses due to business expansion or contraction between

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Budget_Hearing_Background_Feb2016.pdf

U decreased by ‐0.1% in 2015 (annual average); the Pittsburgh CPI‐U increased by 0.7%. All sectors recorded employment expansion in 2015, except local government (generally school districts). Annual Growth Rate 2006 2007 2008 2009 2010 2011 2012 2013 0.7% 1.6% Annual Average Change (000s) 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Payroll Employment 55.3 42.2 1.5 ‐183.9 5.1 64.8 40.3 14.7 45.8 54.8

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TC_2021_Keystone_Special_Development_Zones_Update.pdf

that each employee for which the credit is being claimed is a qualified KSDZ employee. o Completed, signed and notarized Employment Affidavit confirming employment numbers. o Spreadsheet for all employees (exempt and non-exempt) for which the KSDZ Tax Credit is claimed with names

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Official-Revenue-Estimate-2018-06.pdf

paid to Pennsylvania residents will increase by 4.3 percent (2018) and 4.2 percent (2019).  Payroll Employment will expand by 62,500 (2018) and 57,000 (2019) net jobs. Table 1.2 (next page) compares the economic forecast used 8% 2.2% Wages and Salaries 3.8% 4.1% 1.3% 3.3% 4.3% 4.2% Employment Gains (000s) 48.0 47.3 50.0 62.9 62.5 57.0 Source: U.S. Bureau of Economic Analysis and

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MTR-2015-08.pdf

bank deposits have increased at roughly the same pace as the Pennsylvania economy. However, due in part to consolidation, industry employment has contracted by roughly 6,000 payroll jobs from 2006 to 2014. Preliminary data through June 2015 indicate a further 000 payroll jobs. Currently, the banking industry (defined as depository credit intermediation) comprises 1.3 percent of total Pennsylvania payroll employment. The Federal Reserve’s capital requirements will continue to increase under the international agreement known as Basel III. Under this

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Monthly_Economic_Update_October_2020.pdf

rate of +35.3% for 2020 Q3 U.S. GDP based on available economic data for the third quarter. Pennsylvania Employment Expands 1.2% in September The U.S. Bureau of Labor Statistics recently released monthly state employment data. For September, Pennsylvania payroll employment grew by 1.2% (68,000 jobs) from August but declined by -7.8%

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Monthly_Economic_Update_April_2020.pdf

Pennsylvania March Jobs Growth Flat The U.S. Bureau of Labor Statistics recently released March employment data for Pennsylvania. Year-over-year total non-farm employment growth was essentially flat (0.1%, 6,200 jobs, not seasonally adjusted). The transportation-utilities (2.8%), financial activities (2

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MER-2013-11.pdf

number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Advance Retail Sales Year-over-year growth rate of retail sales based number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Sales-Use Taxes Year-over-year growth rate of sales taxes based

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jackson ppt.pdf

form without prior written consent. 2010 2011 2012 2013 Industrial Production 5.3 4.1 2.8 2.9 Payroll Employment -0.7 1.0 1.2 1.6 Light-Vehicle Sales (Millions) 11.6 12.8 13.5 14.7 presentation may be reproduced, reused, or otherwise distributed in any form without prior written consent. (Percent change, annual rate) US Employment Will Gradually Recover, Reaching a New Peak in Late 2014 6 © 2012, IHS Inc. No portion of this presentation may

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Initial-Revenue-Estimate-2018-05.pdf

paid to Pennsylvania residents will increase by 4.3 percent (2018) and 4.2 percent (2019).  Payroll Employment will expand by 62,500 (2018) and 57,000 (2019) net jobs. Table 1.2 (next page) compares the economic forecast used 8% 2.2% Wages and Salaries 3.8% 4.1% 1.3% 3.3% 4.3% 4.2% Employment Gains (000s) 48.0 47.3 50.0 62.9 62.5 57.0 Source: U.S. Bureau of Economic Analysis and

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Budget Hearings Packet.pdf

to accelerate. 6 Gasoline prices have recovered from a decade low. Stock markets achieve steady gains. 7 Pennsylvania economic and employment growth slower than U.S. and adjacent states. 8 Demographic Outlook From 2015 to 2025, the Pennsylvania working age population 1.7% Wages and Salaries 3.9% 3.7% 1.8% 3.9% 4.0% 2.5% 3.3% Payroll Employment (000s) 64.7 39.9 14.7 47.6 48.6 43.5 50.0 Philadelphia CPI-U 2.7%

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Budget Hearings Packet- Web Version.pdf

to accelerate. 6 Gasoline prices have recovered from a decade low. Stock markets achieve steady gains. 7 Pennsylvania economic and employment growth slower than U.S. and adjacent states. 8 Demographic Outlook From 2015 to 2025, the Pennsylvania working age population 1.7% Wages and Salaries 3.9% 3.7% 1.8% 3.9% 4.0% 2.5% 3.3% Payroll Employment (000s) 64.7 39.9 14.7 47.6 48.6 43.5 50.0 Philadelphia CPI-U 2.7%

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2013-06 Monthly Economic Summary - FINAL.pdf

number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Advance Retail Sales Year-over-year growth rate of retail sales based number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Sales-Use Taxes Year-over-year growth rate of sales taxes based

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2007_divestment_complete_report.pdf

XII . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 407 “Governor Rendell Helps Break Ground on Westinghouse Nuclear Headquarters” News Release: August 14, 2007 – Appendix XIII . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 411 Pennsylvania Employment Impact – Appendix XIV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 415 “Should Public Plans Engage in Social Investing?” Center for Retirement Research at Boston College August 2007 owned firms in Pennsylvania are in the manufacturing industry and account for nearly 12% of the Commonwealth’s total manufacturing employment. Because it is based on the SDTF model, House Bill Number 1140 is intended to target non-U.S. companies

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RB 2019 RACP.pdf

to, projects that: o have a regional or multi-jurisdictional impact; o generate substantial increases or maintain current levels of employment, tax revenues or other measures of economic activity; o do not obtain primary funding through other state programs; and o economy, then those impacts would also need to be estimated. Other multipliers can be used to estimate potential short-term employment impacts attributable to the new investment. The employment figures include new direct jobs generated from the grant (e.g., construction

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PASBO_March_17_2021.pdf

2.0% 4.0% 6.0% 8.0% March 17, 2021 single-year Avg Annual Wage Philadelphia CPI-U payroll employment 2002 to 2008 Avg Wage +3.6% CPI-U +3.2% 2010 to 2019 Avg Wage +2.6% CPI-U Number Change (000s) YOY Percent Change Apr 20 Aug 20 Jan 21 Apr 20 Aug 20 Jan 21 PA Payroll Employment -1,099 -519 -460 -18.1% -8.6% -7.7% Construction -98 -19 -13 -37.9% -6.8% -5.3%

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MTR-2016-11.pdf

Growth 1.5% 1.6% -4.5% Dollar amounts are in millions. NATURAL GAS DRILLING JOBS DECLINE AS PRODUCTION INCREASES Employment in the natural gas industry has been declining in Pennsylvania in recent years. Data from the Quarterly Census of Employment and Wages 1 show a significant reduction in natural gas drilling jobs through the first quarter of 2016. Conversely, data

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MSC_March_31_2021.pdf

Hit Hardest 8 YOY Number Change (000s) YOY Percent Change Apr 20 Feb 21 Apr 20 Feb 21 PA Payroll Employment -1,099 -441 -18.1% -7.3% Construction -98 -10 -37.9% -4.1% Manufacturing -85 -33 -14.7% -5 YOY is year-over-year. Excludes self-employed. Source: U.S. Bureau of Labor Statistics, CES State and Metro Area Employment. March 31, 2021 IFO Forecast: 6 Years Needed for Full PA Jobs Recovery March 31, 2021 9 Reasons Why Lost

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Lancaster_Chamber_Presentation_ Oct_6_2021.pdf

Forecast by IFO. permanent job loss PA Payroll Jobs Still Far Below Pre-Pandemic Level October 6, 2021 3 Payroll Employment (000s) Year-Over-Year Change Aug 2019 Aug 2021 Number Percent Total Payroll Employment (000s) 6,049 5,731 -319 -5.3% Construction 275 258 -18 -6.4% Manufacturing 577 552 -25 -4.3%

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Labor_Market_Update_Aug_2021.pdf

the healthcare sector increased, largely due to continued weakness in the nursing home and residential care subsector. Through July 2021, employment in that subsector is down 24,500 from its pre-pandemic level. Unlike nearly all other subsectors, the subsector continues 5% for PUA. Continued on next page. Labor Market Update August 2021 May June July May June July Total Payroll Employment -432.3 -389.1 -362.5 44.8 28.5 -15.8 Construction -18.3 -23.1 -24.5 3

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Five_Year_Outlook_Presentation_2021.pdf

Lifestyle change Early retirements Labor Force = Employed + Unemployed Who Stopped Working? Not Just the Elderly November 15, 2021 7 PA Employment / Population Ratio by Age Group 62.9% 73.4% 77.1% 74.8% 61.2% 49.8% 64.8% 69 employed. Source: U.S. Bureau of Economic Analysis and U.S. Bureau of Labor Statistics. Forecast by IFO. Pennsylvania Payroll Employment Still Lags November 15, 2021 9 Number (000s) 2-Year Change Sept 2019 Sept 2021 Number Percent Payroll Employment 6

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Economic_and_Revenue_Update_2020.pdf

Materials Included Independent Fiscal Office Overview ........................................................................................................ 1 IFO Expenditures and Allocation of Staff Resources ......................................................................... 4 Pennsylvania Economic Trends ................................................................................................................. 5 PA Employment Gains and Losses by Sector ....................................................................................... 6 State Metric Comparison ............................................................................................................................ 7 Pennsylvania Demographic Snapshot .................................................................................................... 8 Most PA Job Gains to Age 2020 are forecasts by IFO. UE is unemployment. Net Jobs Gains excludes independent contractors, self-employed and military. 6 PA Employment Gains and Losses by Sector Share of Sector 2017 2018 2019 Jobs Mining 1.7 1.9 0.9 0

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2013-10 Monthly Economic Summary.pdf

number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Advance Retail Sales Year-over-year growth rate of retail sales based number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Sales-Use Taxes Year-over-year growth rate of sales taxes based

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Senate_Maj_Policy_Comm_April_13_2021.pdf

on Pennsylvania Leisure and Hospitality Sector Senate Majority Policy Committee April 13, 2021 Year-Over-Year Change in PA Payroll Employment (000s) 2 YOY Number Change (000s) YOY Percent Change Apr 20 Feb 21 Apr 20 Feb 21 PA Payroll Employment -1,099 -441 -18.1% -7.3% Construction -98 -10 -37.9% -4.1% Manufacturing -85 -33 -14.7% -5

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Revenue-Estimate-2020-05-Presentation.pdf

n.a. Child Care 3.5 3.1 1.2 -31.6 3.1 2.5 0.8 -40.8 Employment Services 0.7 -0.1 -1.2 -27.5 -5.5 -7.0 -10.3 -24.3 Couriers and Messengers not seasonally adjusted. April data are preliminary. Does not include self-employed. Source: U.S. Bureau of Labor Statistics, Current Employment Statistics and State and Area Employment. Annual Change in Payroll Jobs (000s) May 26, 2020 9 2018 2019 2020 Construction

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PICPA_Presentation.pdf

Economic Analysis, U.S. Bureau of Labor Statistics, U.S. Energy Information Admin., Federal Housing Finance Agency. Change in Payroll Employment (000s) June 7, 2017 12 2014 2015 2016 2017 Mining 1.7 -3.8 -9.0 -3.2 Construction 4 tax and minimum wage increase.  Gas prices recently recover. Will it last?  Minimum wage: higher incomes vs. lower employment. The Outlook in February 2017 June 7, 2017 16 2015-16 2016-17 2017-18 Growth Beginning Balance $275 $2

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Monthly_Economic_Update_July_2020.pdf

to 13.0 Percent in June On July 17, the U.S. Bureau of Labor Statistics released the June state employment/unemployment report. The percent of Pennsylvania’s labor force that is unemployed (seasonally adjusted) fell to 13.0% from 13 force. The unemployment rate continues to decline from a record high of 16.1% in April 2020. Pennsylvania nonfarm-payroll employment grew by an estimated 231,500 jobs (4.5%) since May. When compared to June 2019, nonfarm-payroll employment fell

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Monthly_Economic_Update_January_2021.pdf

article from the Wall Street Journal finds that the pandemic is exacerbating an ongoing teacher shortage, as nationwide public school employment fell to its lowest level since 2000. In Pennsylvania, education jobs at all levels and across both the public and professional schools recorded similar job losses as students moved to remote learning or delayed admission in response to the pandemic. Employment in this subsector fell 17.1% (-31,300) over the prior year. Private elementary and secondary school employment, which has

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2004_srpvffinal.pdf

retirement is defined or fixed, generally by law or ordinance, while the contributions to be made over the period of employment are variable based on the experience of the pension fund. In a “defined contribution” (DC) plan, the contributions to be made over the period of employment are defined, while the pension benefit to be provided at retirement is variable based on the experience of the pension

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Independent Fiscal Office

It estimates the total amount of federal stimulus provided directly to individuals by income group and considers the impact on employment, output, and whether the infusion of federal monies into the state economy is conducive to raising the state minimum wage s budget hearing before the Senate Appropriations Committee. The questions relate to the impact of the COVID-19 pandemic on employment based on gender, net domestic migration for Pennsylvania and border states, and education sector employment for Pennsylvania and border states

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RB-2020-COVID-19 Local Revenue Impact.pdf

based on actual county-level data from the U.S. Bureau of Labor Statistics (BLS) from the Quarterly Census of Employment and Wages (QCEW) for that quarter. For the entire state, wages grew by 4.5 percent in 2019 Q4 from 2020 Q2 wage growth for each county based on (1) May statewide job loss data by sector, (2) county specific employment and wages paid by sector (CY 2019), (3) total unemployment compensation (UC) payments for 2020 Q2 by county and (4

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Official-Revenue-Estimate-2020-06-Presentation.pdf

n.a. Child Care 3.1 -0.4 -33.1 -29.0 2.5 0.8 -43.5 -28.3 Employment Services -0.1 -1.1 -27.4 -26.0 -7.0 -10.3 -26.1 -22.5 Couriers and Messengers not seasonally adjusted. May data are preliminary. Does not include self-employed. Source: U.S. Bureau of Labor Statistics, Current Employment Statistics and State and Area Employment. Annual Change in Payroll Jobs (000s) June 22, 2020 9 2018 2019 2020 Construction

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MTR-2016-06.pdf

healthy; however, the release of state economic data typically lags national sources. One timely indicator of the state economy is employment growth, which remains solid. Based on data from the first five months of the year, the state is on pace S. Additional data are necessary to evaluate the implications of recent economic trends. The release later this month of June employment growth and second quarter GDP will provide key insights to the U.S. economic outlook. June 2016 Monthly Trends Report

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MTR-2016-03.pdf

economy. For 2015, the only sector to contract was the mining sector (-6.7%), largely due to a reduction in employment from a decline in natural gas drilling activity. Healthcare-social services was the largest sector (13.8% of total), and 0% growth). Some mid-sized sectors recorded stronger earnings gains (e.g., construction and professional services) due to above- average employment expansions. For General Fund revenues, the wages- salaries component of gross earnings is a crucial series since it motivates personal

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Monthly_Economic_Update_May_2021.pdf

data from the monthly job openings and labor turnover survey (JOLTS). The job openings rate (number of job openings / (total employment + job openings)) measures the availability of employment and the share of those openings that are filled. For the Northeast region, the job openings rate climbed to 5

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Monthly_Economic_Update_March_2021.pdf

but it is not the only measure of price changes in the economy. PA Adds 35,700 Jobs in January, Employment Down 455,000 from Prior Year On March 15, the U.S. Bureau of Labor Statistics released the January state employment report. On a seasonally adjusted basis, the largest job gains occurred in the education sector (excludes elementary and secondary school

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IFO_PASBO_Presentation_Nov_2021.pdf

Lifestyle change Early retirements Labor Force = Employed + Unemployed Who Stopped Working? Not Just the Elderly November 16, 2021 4 PA Employment / Population Ratio by Age Group 62.9% 73.4% 77.1% 74.8% 61.2% 49.8% 64.8% 69 employed. Source: U.S. Bureau of Economic Analysis and U.S. Bureau of Labor Statistics. Forecast by IFO. Pennsylvania Payroll Employment Still Lags November 16, 2021 6 Number (000s) 2-Year Change Sept 2019 Sept 2021 Number Percent Payroll Employment 6

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IFO_Hearing_Packet_Feb2019.pdf

Fund Financial Statement Comparison .............................................................. 4 Reconciling FY 2019-20 Ending Balance: Executive Budget vs IFO ....................... 5 Economic Trends .......................................................................................................................... 6 PA Employment Gains and Losses by Sector .................................................................... 7 State Metric Comparison ........................................................................................................... 8 Pennsylvania Demographic Snapshot ................................................................................. 9 Pennsylvania Demographic Trends .................................................................................... 10 State Domestic which uses value as of February 7. S&P 500 Index (Dec level) uses average level for December. 7 PA Employment Gains and Losses by Sector Sector 2008 2013 2018 2008-13 2013-18 Mining 22.2 36.0 28.9

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Five_Year_Outlook_2020_Presentation_Final.pdf

Then Decelerate January 21, 2021 7 YOY Number Change (000s) YOY Percent Change April Aug Nov April Aug Nov Total Employment -1,062 -502 -455 -17.5% -8.3% -7.4% Construction -104 -16 -7 -40.1% -6.0% -2.7% YOY is year-over-year. Excludes self-employed. Source: U.S. Bureau of Labor Statistics, CES State and Metro Area Employment. Permanent Job Loss, But Some Subsectors Gain January 21, 2021 8 Number (000s) Change Nov 2019 Nov 2020 Number Percent

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CompetePA_March_11_2021.pdf

Jobs: Change from Prior Year March 11, 2021 6 Number Change (000s) Percent Change Apr Dec Apr Dec Total Payroll Employment -1,062 -472 -17.5% -7.7% Construction -104 -5 -40.1% -2.1% Manufacturing -77 -35 -13.3% -6 YOY is year-over-year. Excludes self-employed. Source: U.S. Bureau of Labor Statistics, CES State and Metro Area Employment. IFO Forecast: 6 Years Needed for Full PA Jobs Recovery March 11, 2021 7 Reasons Why Lost Jobs Will Not

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CNIT-Rate-Cut-2018-04.pdf

year is not included in this analysis. 15 A number of studies find that federal CNIT rate cuts would enhance employment and those studies also find that labor bears a significant portion of the CNIT burden. Potential employment impacts from state-level rate cuts are much more difficult to quantify. 16 The tax rate for Indiana declined to

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2013-09 Monthly Economic Summary-FINAL.pdf

number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Advance Retail Sales Year-over-year growth rate of retail sales based number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Sales-Use Taxes Year-over-year growth rate of sales taxes based

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2012-07 Monthly Economic Summary10.pdf

are from the US Department of Labor - Survey of Households. Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. Data are from the US Department of Labor - Survey of Establish- ments. Advance are from the US Department of Labor - Survey of Households. Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. Data are from the US Department of Labor - Survey of Establish- ments. Sales-

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2000_cost_of_living_adjustments.pdf

in compensation paid to all active employees of the applicable employer or the increase in compensation paid to a particular employment position. The most widely used measure of the change in the cost-of-living for retirement benefit recipients is the effect of inflation on the benefit recipients. It may also be based on the belief that the provision of other employment- related benefits is not reflected by the measure. The employment-related benefits frequently cited as justification for providing less than

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SD_Property_Tax_Forecast_Nov_2021.pdf

The base index is calculated by averaging the percentage increase in the Pennsylvania statewide average weekly wage (SAWW) and the employment cost index (ECI) for elementary/secondary schools. 5 School districts with an aid ratio less than 0.4000 utilize the to very strong wage gains in CY 2021. 6 For the ECI, there are no available projections for education-specific employment costs, so the U.S. ECI for all private workers from IHS Markit is used, with adjustments by the IFO

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SD-Property-Tax-Forecast-2020.pdf

The base index is calculated by averaging the percentage increase in the Pennsylvania statewide average weekly wage (SAWW) and the employment cost index (ECI) for elementary/secondary schools. 4 School districts with an aid ratio less than 0.4000 utilize the period in the baseline for computing the growth rate. For the ECI, there are no available projections for education- specific employment costs for Pennsylvania, so the general nationwide ECI projection from IHS Markit is used, with adjustments by the IFO. This

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SD-Property-Tax-Forecast-2019.pdf

The base index is calculated by averaging the percentage increase in the Pennsylvania statewide average weekly wage (SAWW) and the employment cost index (ECI) for elementary/secondary schools. 4 School districts with an aid ratio less than 0.4000 utilize the period in the baseline for computing the growth rate. For the ECI, there are no available projections for education-specific employment costs, so the general ECI projection from IHS Markit is used, with adjustments by the IFO. This component of the

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Revenue_Estimate_2021_05_Presentation.pdf

1% 6.7% 4.3% Home Price Index 5.1% 7.4% 11.9% -- Note: Net Job Gains for payroll employment only. Excludes self-employed and independent contractors. Home Price Index for 2021 is year-over-year gain for Q1 only 7 YOY Change (000s) YOY Growth Apr 20 Oct 20 Apr 21 Apr 20 Oct 20 Apr 21 Total Payroll Employment -1,099 -455 -447 -18.1% -7.4% -7.3% Construction -98 -16 -11 -37.9 -5.9 -4.2

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Revenue_and_Economic_Update_Presentation_2020_10.pdf

29, 2020 2 Estimate Notes Lost Labor Income ($ billions) Wages-Salaries -$20.8 6% reduction vs no-pandemic scenario Self-Employment -3.2 15% reduction vs no-pandemic scenario Tips -1.5 high degree of uncertainty Total -25.5 excludes any is receiving PUA payments?  Many states report serious issues with identity and other fraud October 29, 2020 4 PA Employment Recovers Thru July, Then Moderates October 29, 2020 5 YOY Number Change (000s) YOY Growth Rate Apr Jul Sept Apr

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Revenue-Estimate-2019-05.pdf

and Salaries paid to Pennsylvania residents will increase by 4.0 percent and 4.1 percent.  Payroll Employment will expand by 57,700 and 54,600 net jobs.  The Philadelphia CPI-U (consumer price index) will increase by 1 2015.2 2016.2 2017.2 2018.2 2019.2 NIPA Wages Withholding Economic Outlook | Page 5 Payroll Employment Table 1.4 displays annual net job gains for Pennsylvania payroll jobs, which excludes agriculture, military, self-employed individuals and independent contractors

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RB-2018-01.pdf

The base index is calculated by averaging the percentage increase in the Pennsylvania statewide average weekly wage (SAWW) and the employment cost index (ECI) for elementary/secondary schools. 5 School districts with an aid ratio less than 0.4000 utilize the period in the baseline for computing the growth rate. For the ECI, there are no available projections for education-specific employment costs, so the general ECI projection from IHS Markit is used. This component of the index increases more modestly, from

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Presentation_PBC_6-12-14_data.xlsx

PA Employment by Industry Annual Wages and Employment for Pennsylvania, 1993-2013 Average Annual Growth Rate Wage Distributions ($ millions) 1993 1994 1995 1996 1997 1998 1999 2000 2001

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Presentation-2019-5-1-PAEL.pdf

Healthcare includes ambulatory care, hospitals and nursing/residential care facilities. Source: U.S. Bureau of Labor Statistics, State and Area Employment. The Minimum Wage Proposal Increase minimum wage from $7.25 to $12.00/hr (+65.5%).  Note: average wage all full- and part-time. Excludes self-employed and independent contractors. Source: "Analysis of Revenue Proposals," IFO (March 2019). Projected Employment Impact (2018) May 1, 2019 9 Lower Upper % Change Avg Wage # Jobs Affected Change # Jobs % Change Avg Wage # Jobs Affected

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Presentation-2018-08-PA-State-Association-Boroughs.pdf

0% Note: Professional-Business includes Professional Services, Management and Administrative-Waste Management. Source: U.S. Bureau of Labor Statistics, Current Employment Statistics. Excludes self-employed individuals. August.08.2018 15 Service Sector Jobs Dominate Con’t Net PA Employment Change (000s) Sector 1997 to 2007 2007 to 2010 2010 to 2017 Healthcare-Social 160 46 110 Professional-Business 166

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PICA_Presentation_2020_11.pdf

Moderate November 18, 2020 4 YOY Number Change (000s) YOY Percent Change Apr Jul Sept Apr Jul Sept Total Payroll Employment -1,062 -539 -477 -17.5% -8.9% -7.8% Construction -104 -19 -15 -40.1% -6.8% -5.6% 17 -5 -27 -9.6% -4.1% -16.5% Local Government -20 -17 -25 -4.4% -3.9% -5.5% Employment Services (temps) -30 -21 -22 -26.1% -18.3% -18.4% Personal Care-Dry Cleaner -46 -22 -20 -64.7%

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PBB_2019_DOBS_Report.pdf

on topics such as online banking, budgeting and credit management to improve long-term outcomes (e.g., gainful employment) for participants. The program will culminate in a statistical report that will report on a variety of outcomes. The Department also engages literacy program hosted by the Departments of Banking and Securities and Corrections. Financial literacy programs may improve recidivism, employment and other outcomes for previously incar- cerated individuals. 13-14 14-15 15-16 16-17 17-18 18-19 Complaints and

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PA_Assoc_of_Community_Bankers_Presentation_2020_12.pdf

Data December 9, 2020 4 YOY Number Change (000s) YOY Percent Change April July October April July October Total Payroll Employment -1,062 -539 -453 -17.5% -8.9% -7.4% Construction -104 -19 -13 -40.1% -6.8% -4.8% 17 -5 -30 -9.6% -4.1% -16.9% Local Government -20 -17 -23 -4.4% -3.9% -4.9% Employment Services (temps) -30 -21 -22 -26.1% -18.3% -17.3% Personal Care-Dry Cleaner -46 -22 -22 -64.7%

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Official-Revenue-Estimate-2019-06.pdf

 Wages and Salaries paid to Pennsylvania residents will increase by 4.1 percent each year.  Payroll Employment will expand by 57,700 and 54,600 jobs over the two years.  The Philadelphia CPI-U (consumer price index) will 2015.2 2016.2 2017.2 2018.2 2019.2 NIPA Wages Withholding Economic Outlook | Page 5 Payroll Employment Table 1.4 displays annual net job gains for Pennsylvania payroll jobs, which excludes agriculture, military, self-employed individuals and independent contractors

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novak ppt.pdf

activity equals tax revenue increases if and only if the tax system matches the economy. • Government sector debts suggest further employment and spending cuts Gross Domestic Product Pennsylvania * 4-quarter growth rates in real terms Percent -6 -4 -2 0 2 Q3. • Other indicators suggest a different story – Wage and salaries increased in nominal terms – Unemployment rate was below 8 percent – Employment increased roughly 1 percent in 2011 -10 -5 0 5 10 15 Dec-79 Dec-81 Dec-83 Dec-85

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Newsstand_March_2020.pdf

to retail clo- sures, event and travel cancelations and the reduction or elimination of work hours for some employees. 2019 Employment Data Revised Upward On March 16, the U.S. Bureau of Labor Statistics released updated payroll employment data for states and met- ropolitan areas. The revision increased average Pennsylvania payroll employment by 15,900 jobs for calendar

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NAP-2018-03.pdf

households. Community Economic Development – The construction or rehabilitation of commercial or industrial buildings, the removal of blight, increased access to employment and job training, education and community service opportunities, and/or crime prevention. Community Services – The provision of counseling or advice Education – Educational instruction or scholarship assistance. Job Training – Vocational instruction that allows an individual to attain a higher level of employment. Neighborhood Assistance – A project or service that provides physical improvement to a distressed area. Neighborhood Conservation – A project or service

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MTR-2015-07.pdf

looking for work. The higher the LFPR, the larger share of the working-age population that is working or seeking employment. Since 1999, Pennsylvania LFPRs have fallen for teens and young adults. For the 16-19 years old age group, the Economic Indicators Notes: 1. Source: U.S. Department of Labor—Survey of Households. 2. U.S.: Increase in monthly payroll employment compared to the previous month. PA: Average increase in annual payroll employment based on latest three months of data. Source

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Monthly_Economic_Update_August_2020.pdf

PA Recovers Half of Jobs Lost From April Low, but Employment Growth Decelerates On August 21, the U.S. Bureau of Labor Statistics released the July state employment report. The data reveal that by July, nearly one-half (529,100, not seasonally adjusted) of the year-over-year

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MER-2014-01.pdf

number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Advance Retail Sales Year‐over‐year growth rate of retail sales based number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Sales‐Use Taxes Year‐over‐year growth rate of sales taxes based

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IFO ppt.pdf

2006 2011 Real Net Investment / Real GDP January 18, 2012 Independent Fiscal Office Economic & Budget Outlook 2012 Revenue Conference PA Employment Returns to 2005 Q1 Level 0.95 0.98 1.00 1.03 1.05 2005.1 2006.1 2007 1.6% 2.4% 3.2% 2.3% change -0.7% -0.9% -0.2% 0.3% 0.2% Payroll Employment (000s) June 2011 5,717 5,828 5,903 5,975 6,100 January 2012 5,682 5,748 5

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IFO Five-Year Outlook.pdf

nation at $29,960 per student.  Where will the unexpected growth come from?  Consumers – debt levels still high, employment unsure.  Investment – little incentive due to lack of demand.  Government – fiscal pressures at all levels.  Exports – major 4.0% Wages and Salaries 4.8% 3.0% 3.6% CPI-U 2.5% 2.8% 1.7% Payroll Employment 1.1% 0.0% 0.8% UE Rate (average level) 5.7% 5.9% 6.4% Annual Average Growth Rates

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HTAE_2019_05_15.pdf

Analysis, U.S. Bureau of Labor Statistics, Federal Housing Finance Agency, PA Lottery, PA Department of Environmental Protection. Annual PA Employment Growth (000s) May 15, 2019 3 2016 2017 2018 2019 Q1 Mining-Logging -9.0 1.7 1.9 1 all full-and part-time. Excludes self-employed and independent contractors. Source: "Analysis of Revenue Proposals," IFO (March 2019). Projected Employment Impact (2018) May 15, 2019 9 Lower Upper % Change Avg Wage # Jobs Affected Change # Jobs % Change Avg Wage # Jobs Affected

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EPLC-2-19-21.pdf

Then Decelerate February 19, 2021 9 YOY Number Change (000s) YOY Percent Change Apr Aug Dec Apr Aug Dec Total Employment -1,062 -502 -472 -17.5% -8.3% -7.7% Construction -104 -16 -5 -40.1% -6.0% -2.1% YOY is year-over-year. Excludes self-employed. Source: U.S. Bureau of Labor Statistics, CES State and Metro Area Employment. Permanent Job Loss, But Some Subsectors Gain February 19, 2021 10 Number (000s) Change Dec 2019 Dec 2020 Number Percent

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Economic_and_Revenue_Update_Presentation_August_2020.pdf

large job losses, only a moderate decline in total wages paid  Housing market fares decently | but renters struggle Steady employment gains since April low | can it continue?  45% of job losses in retail-wholesale and food service-accommodations  46 -45 -29 -64.7 -61.8 -39.6 Child Care -21 -16 -10 -43.5 -28.3 -20.1 Employment Services -30 -30 -22 -26.1 -22.5 -19.6 Couriers and Messengers 1 2 4 3.7% 6.7%

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2021-SD-Property-Tax-Forecast.pdf

The base index is calculated by averaging the percentage increase in the Pennsylvania statewide average weekly wage (SAWW) and the employment cost index (ECI) for elementary/secondary schools. 5 School districts with an aid ratio less than 0.4000 utilize the forecast period as those low-wage workers are rehired. For the ECI, there are no available projections for education-specific employment costs for Pennsylvania, so the U.S. ECI for all private workers from IHS Markit is used, with adjustments by

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2013-05_Monthly_Economic_Summary.pdf

number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Advance Retail Sales Year-over-year growth rate of retail sales based number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Sales-Use Taxes Year-over-year growth rate of sales taxes based

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Pensions

following Federal laws: 1) the Heroes Earnings Assistance and Relief Tax Act of 2008 ("HEART Act"); 2) the Uniformed Services Employment and Reemployment Rights Act of 1994 ("USERRA"); and 3) Internal Revenue Code Section 414(u) [IRC §414(u)]. Act 2013 following Federal laws: 1) the Heroes Earnings Assistance and Relief Tax Act of 2008 (HEART Act); 2) the Uniformed Services Employment and Reemployment Rights Act of 1994 (USERRA); and 3) Internal Revenue Code Section 414(u) [IRC §414(u)]. Additionally, the

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The Payroll Tax Cut Extension FINAL.pdf

the Medicare hospital insurance (HI) tax equal to 2.9 percent of covered wages. Covered wages are all remuneration for employment paid to employees covered by the Social Security system. The OASDI tax is levied on covered wages up to certain it is likely that the impact from those next rounds of spending would be minor compared to the first round. Employment would also increase in response to the additional spending, but the potential impact on the labor market is less certain

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TC_2021_Neighborhood_Assistance_Program.pdf

The studies also noted that any long-term economic impacts from these tax credits, such as access to higher- paying employment opportunities or enhanced property values, could not be quantified. Assessment of the West Virginia Neighborhood Investment Program (2014) For FY earnings multiplier to the new Pennsylvania spending that results from the NAP Tax Credit. 23 Line 12 IMPLAN applies an employment multiplier to the new Pennsylvania spending that results from the NAP Tax Credit. When combined with the earnings impact, the

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TC_2020_Mobile Telecommunications Broadband Investment Tax Credit.pdf

the number of full-time equivalent employees and the change in earnings. 20 It is noted that the employment figure in Table 4.1 does not represent permanent jobs. Line 14 The Pennsylvania personal income tax (PIT) rate of 3.07 Impact of Rural Broadband,” Kuttner, Hanns, Hudson Institute (April 2016). “The Effects of Broadband Development on Output of Employment: A Cross-sectional Analysis of U.S. Data,” Number 6, Crandall, Robert, William Lehr and Robert Litan, The Brookings Institution (July 2007

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Revenue-Update-2020-04.pdf

CY 2021.  Wages-salaries decline by 1.7 percent.  The unemployment rate increases to 8.7 percent and employment contracts by 264,000 jobs (both full- and part-time). That figure represents the average job loss over the entire year and excludes self- employed and independent contractors. The actual employment contraction in 2020 Q2 will be considerably higher.  Most of the job loss occurs in the retail trade, accommodation-

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REU-2020-02.pdf

Sources and notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in payroll employment compared to the previous month or quarter. PA: Average year-over-year increase in payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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REU-2020-01.pdf

Sources and notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in payroll employment compared to the previous month or quarter. PA: Average year-over-year increase in payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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REU-2019-12.pdf

Sources and notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in payroll employment compared to the previous month or quarter. PA: Average year-over-year increase in payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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REU-2019-11.pdf

Sources and notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in payroll employment compared to the previous month or quarter. PA: Average year-over-year increase in payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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REU-2019-10.pdf

Sources and notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in payroll employment compared to the previous month or quarter. PA: Average year-over-year increase in payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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Presentation_Lancaster_Chamber_2017-07-14.pdf

6% 2.0% 2.0% Wages and Salaries 1.8% 3.9% 4.0% 2.8% 3.7% 3.8% Employment Gains (000s) 14.3 47.4 46.7 52.2 54.4 52.5 Note: Data represent calendar years. Source: U.S. Bureau of Economic Analysis and U.S. Bureau of Labor Statistics. Change in Payroll Employment 7/14/2017 28 2014 2015 2016 2017 Mining 1.7 -3.8 -9.0 -3.2 Construction 4.8

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PBB-Board Hearing Jan 23 2020.pptx

Eligibility 3,049 39.8% $332 1.6% SNAP Eligibility and Authorize Benefits 2,654 34.7 % 301 1.4 % Employment Supports 787 10.3 % 135 0.6 % TANF Eligibility and Benefits 394 5.1 % 210 1.0 % LIHEAP Eligibility and 0 0 0 0 0 0 58 58 Medicaid Mgmt. Info. System 14 0 4 0 0 0 2 20 Employment Supports 0 0 0 3 0 0 16 19 Child Supp. Enforcement 0 0 0 0 0 0 16 16

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PA_Turnpike_Toll_Projections_May_31_2013.pdf

Pennsylvania-Delaware-New Jersey-Maryland region, also referred to as the PA-DE-NJ-MD CPI-U.  Total payroll employment grows by 0.8 percent per annum.  The total population of Pennsylvania expands by 0.3 percent per annum 2% Regional Real GSP 2.3% 1.8% 2.0% Inflation: CPI-U 1.6% 1.6% 1.6% Payroll Employment 1.2% 0.4% 0.8% PA Demographics Under Age 15 0.1% 0.5% 0.3% Ages 15-64

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PA_Chamber_June_17_2021.pdf

6 YOY Change (000s) YOY Growth Apr 20 Oct 20 Apr 21 Apr 20 Oct 20 Apr 21 Total Payroll Employment -1,099 -455 -447 -18.1% -7.4% -7.3% Construction -98 -16 -11 -37.9 -5.9 -4.2 labor market is“tight”| highly unusual given pool of available workers Two studies: extra UC benefits have minor impact on employment ▪ San Francisco FRB (June 2021), Yale University (July 2020) ▪ Both exclude PUA recipients (~500,000 in PA) | traditional UC only

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NewsStand_2019_September.pdf

Issues and Incarceration are Common Factors for Nonworkers A recent study by the U.S. Bureau of Labor Statistics compared employment trends for two cohorts of working- age men. The first cohort included men born between 1960-64 and the second an average decline of 8,600 retail jobs, a decline of 1.6% over the prior year. Since August 2016, employment in Pennsylvania’s retail sector has declined by 25,700 jobs. Author: Tessa Dorr CreationDate: 2019-09-25 17:17

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NewsStand_2019_December.pdf

in Ames, IA to 16.2% in El Centro, CA. The brief measures the cycli- cal sensitivity of metro area employment and finds that all of Pennsylvania’s MSAs are relatively less sensitive to the business cycle than the national average. The Pennsylvania MSA least responsive to an economic down- turn is State College due to its high share of employment in the education sector. BEA Releases GDP by County For the first time, the U.S. Bureau of Economic Analysis

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Newsstand_2018_June.pdf

Data Show Strong PA Labor Market On May 23, the U.S. Bureau of Labor Statistics released state and county employment data for the fourth quarter of 2017. These administrative data provide the final benchmark upon which all published state employment and wage income trends will be based. The data show a clear strengthening of the Pennsylvania labor market through 2017

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MTR-2019-09.pdf

Sources and notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in payroll employment compared to the previous month or quarter. PA: Average year-over-year increase in payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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MTR-2019-08.pdf

Sources and notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in payroll employment compared to the previous month or quarter. PA: Average year-over-year increase in payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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MTR-2019-07.pdf

Sources and notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in payroll employment compared to the previous month or quarter. PA: Average year-over-year increase in payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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MTR-2019-06.pdf

JUNE 2019 Notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in payroll employment compared to the previous month. PA: Average year-over-year increase in payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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MTR-2019-05.pdf

MAY 2019 Notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in payroll employment compared to the previous month. PA: Average year-over-year increase in payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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MTR-2019-04.pdf

APRIL 2019 Notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in payroll employment compared to the previous month. PA: Average year-over-year increase in payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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MTR-2019-03.pdf

MARCH 2019 Notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in payroll employment compared to the previous month. PA: Average year-over-year increase in payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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MTR-2019-02.pdf

FEBRUARY 2019 Notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in payroll employment compared to the previous month. PA: Average year-over-year increase in payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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MTR-2019-01.pdf

JANUARY 2019 Notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in payroll employment compared to the previous month. PA: Average year-over-year increase in payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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MTR-2018-12.pdf

DECEMBER 2018 Notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in payroll employment compared to the previous month. PA: Average year-over-year increase in payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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MTR-2018-11.pdf

NOVEMBER 2018 Notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in payroll employment compared to the previous month. PA: Average year-over-year increase in payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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MTR-2018-10.pdf

OCTOBER 2018 Notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in payroll employment compared to the previous month. PA: Average year-over-year increase in payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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MTR-2018-1.pdf

JANUARY 2018 Notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in payroll employment compared to the previous month. PA: Average year-over-year increase in payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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MTR-2018-09.pdf

SEPTEMBER 2018 Notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in payroll employment compared to the previous month. PA: Average year-over-year increase in payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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MTR-2018-07.pdf

JULY 2018 Notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in payroll employment compared to the previous month. PA: Average year-over-year increase in payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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MTR-2018-06.pdf

JUNE 2018 Notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in payroll employment compared to the previous month. PA: Average year-over-year increase in payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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MTR-2018-05.pdf

MAY 2018 Notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in payroll employment compared to the previous month. PA: Average year-over-year increase in payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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MTR-2018-04.pdf

APRIL 2018 Notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in payroll employment compared to the previous month. PA: Average year-over-year increase in payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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MTR-2018-03.pdf

MARCH 2018 Notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in payroll employment compared to the previous month. PA: Average year-over-year increase in payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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MTR-2018-02.pdf

FEBRUARY 2018 Notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in payroll employment compared to the previous month. PA: Average year-over-year increase in payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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MTR-2017-12.pdf

DECEMBER 2017 Notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in payroll employment compared to the previous month. PA: Average year-over-year increase in payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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MTR-2017-11.pdf

NOVEMBER 2017 Notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in payroll employment compared to the previous month. PA: Average year-over-year increase in payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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MTR-2017-10.pdf

OCTOBER 2017 Notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in payroll employment compared to the previous month. PA: Average year-over-year increase in payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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MTR-2017-09.pdf

SEPTEMBER 2017 Notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in payroll employment compared to the previous month. PA: Average year-over-year increase in payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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MTR-2017-08.pdf

ECONOMIC INDICATORS Notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in payroll employment compared to the previous month. PA: Average year-over-year increase in payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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MTR-2017-07.pdf

ECONOMIC INDICATORS Notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in payroll employment compared to the previous month. PA: Average year-over-year increase in payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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MTR-2017-05.pdf

Economic Indicators Notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in payroll employment compared to the previous month. PA: Average year-over-year increase in payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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MTR-2017-04.pdf

Economic Indicators Notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in payroll employment compared to the previous month. PA: Average year-over-year increase in payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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MTR-2017-03.pdf

Economic Indicators Notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in payroll employment compared to the previous month. PA: Average year-over-year increase in payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

Hits: 2

MTR-2017-02.pdf

Economic Indicators Notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in payroll employment compared to the previous month. PA: Average year-over-year increase in payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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MTR-2017-01.pdf

Economic Indicators Notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in payroll employment compared to the previous month. PA: Average year-over-year increase in payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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MTR-2016-12.pdf

Economic Indicators Notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in payroll employment compared to the previous month. PA: Average year-over-year increase in payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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MTR-2016-09.pdf

ECONOMIC INDICATORS Notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in payroll employment compared to the previous month. PA: Average year-over-year increase in payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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MTR-2016-08.pdf

Economic Indicators Notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in payroll employment compared to the previous month. PA: Average year-over-year increase in payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

Hits: 2

MTR-2016-05.pdf

Economic Indicators Notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in payroll employment compared to the previous month. PA: Average year-over-year increase in payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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MTR-2016-04.pdf

Economic Indicators Notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in payroll employment compared to the previous month. PA: Average year-over-year increase in payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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MTR-2016-02.pdf

Indicators Notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in monthly payroll employment compared to the previous month. PA: Average increase in annual payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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MTR-2015-11.pdf

Indicators Notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in monthly payroll employment compared to the previous month. PA: Average increase in annual payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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MTR-2015-10.pdf

Indicators Notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in monthly payroll employment compared to the previous month. PA: Average increase in annual payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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MTR-2015-09.pdf

Indicators Notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U.S.: Increase in monthly payroll employment compared to the previous month. PA: Average increase in annual payroll employment based on latest three months of data. Source: U.S. Bureau of Labor Statistics—Survey of Establishments. 3. Average price

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Monthly_Economic_Update_November_2020_Final.pdf

The pandemic is also driving an increase in the residential rent market for single-family homes. Many renters, who maintained employment and now work from home, are leaving the city for the suburbs and seek increased space and more affordable locations Economic Indicators 1. Source: U.S. Bureau of Labor Statistics- Survey of Households. 2. Year-over-year increase in payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source

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Monthly_Economic_Update_June_2021.pdf

prior month, which is very robust relative to historical averages. A portion of the strong wage growth was due to employment gains, which were 0.5% for March and 0.2% for April. The residual growth is largely due to gains Economic Indicators 1. Source: U.S. Bureau of Labor Statistics- Survey of Households. 2. Year-over-year increase in payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source

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Mid_Year_FY16-17_Presentation.pdf

CPI-U Jun 2016 -0.1% 1.2% 1.8% Jan 2017 -0.1% 0.6% 1.8% 2.1% Employment (000s) Jun 2016 48.6 50.1 50.6 Jan 2017 48.6 43.5 50.0 48.9 Note Figures represent change in average level for calendar year. Source: U.S. Bureau of Labor Statistics. Forecast by IFO. PA Employment Growth (000s) 25.Jan.2017 5 PA Inflation Picks Up Year-Over-Year Increase 2015.4 2016.1 2016.2

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MER-2015-06.pdf

of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in monthly payroll employment based on latest three months of data. 2 Advance Retail Sales Year-over-year growth rate of retail sales based unemployed divided by the labor force. 1 Annual Net Job Gains (000s) Average year-over-year net increase in payroll employment based on latest three months of data. 2 Sales-Use Taxes Year-over-year growth rate of all sales and

Hits: 2

MER-2015-04.pdf

of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in monthly payroll employment based on latest three months of data. 2 Advance Retail Sales Year‐over‐year growth rate of retail sales based unemployed divided by the labor force. 1 Annual Net Job Gains (000s) Average year‐over‐year net increase in payroll employment based on latest three months of data. 2 Sales‐Use Taxes Year‐over‐year growth rate of all sales and

Hits: 2

MER-2015-03.pdf

of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in monthly payroll employment based on latest three months of data. 2 Advance Retail Sales Year‐over‐year growth rate of retail sales based unemployed divided by the labor force. 1 Annual Net Job Gains (000s) Average year‐over‐year net increase in payroll employment based on latest three months of data. 2 Sales‐Use Taxes Year‐over‐year growth rate of all sales and

Hits: 2

MER-2015-01.pdf

of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in monthly payroll employment based on latest three months of data. 2 Advance Retail Sales Year-over-year growth rate of retail sales based unemployed divided by the labor force. 1 Annual Net Job Gains (000s) Average year-over-year net increase in payroll employment based on latest three months of data. 2 Sales-Use Taxes Year-over-year growth rate of all sales and

Hits: 2

MER-2014-12.pdf

of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in monthly payroll employment based on latest three months of data. 2 Advance Retail Sales Year‐over‐year growth rate of retail sales based unemployed divided by the labor force. 1 Annual Net Job Gains (000s) Average year‐over‐year net increase in payroll employment based on latest three months of data. 2 Sales‐Use Taxes Year‐over‐year growth rate of all sales and

Hits: 2

MER-2014-11.pdf

of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in monthly payroll employment based on latest three months of data. 2 Advance Retail Sales Year‐over‐year growth rate of retail sales based unemployed divided by the labor force. 1 Annual Net Job Gains (000s) Average year‐over‐year net increase in payroll employment based on latest three months of data. 2 Sales‐Use Taxes Year‐over‐year growth rate of all sales and

Hits: 2

MER-2014-10.pdf

of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in monthly payroll employment based on latest three months of data. 2 Advance Retail Sales Year‐over‐year growth rate of retail sales based unemployed divided by the labor force. 1 Annual Net Job Gains (000s) Average year‐over‐year net increase in payroll employment based on latest three months of data. 2 Sales‐Use Taxes Year‐over‐year growth rate of all sales and

Hits: 2

MER-2014-08.pdf

of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in monthly payroll employment based on latest three months of data. 2 Advance Retail Sales Year‐over‐year growth rate of retail sales based unemployed divided by the labor force. 1 Annual Net Job Gains (000s) Average year‐over‐year net increase in payroll employment based on latest three months of data. 2 Sales‐Use Taxes Year‐over‐year growth rate of all sales and

Hits: 2

MER-2014-07.pdf

of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in monthly payroll employment based on latest three months of data. 2 Advance Retail Sales Year‐over‐year growth rate of retail sales based unemployed divided by the labor force. 1 Annual Net Job Gains (000s) Average year‐over‐year net increase in payroll employment based on latest three months of data. 2 Sales‐Use Taxes Year‐over‐year growth rate of all sales and

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MER-2014-06.pdf

Number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Advance Retail Sales Year‐over‐year growth rate of retail sales based unemployed divided by the labor force. 1 Annual Net Job Gains (000s) Average year‐over‐year net increase in payroll employment based on latest three months of data. 2 Sales‐Use Taxes Year‐over‐year growth rate of all sales and

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MER-2014-05.pdf

Number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Advance Retail Sales Year‐over‐year growth rate of retail sales based unemployed divided by the labor force. 1 Annual Net Job Gains (000s) Average year‐over‐year net increase in payroll employment based on latest three months of data. 2 Sales‐Use Taxes Year‐over‐year growth rate of nonmotor and motor

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MER-2014-04.pdf

Number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Advance Retail Sales Year‐over‐year growth rate of retail sales based Number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Sales‐Use Taxes Year‐over‐year growth rate of nonmotor and motor

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MER-2014-03.pdf

number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Advance Retail Sales Year‐over‐year growth rate of retail sales based number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Sales‐Use Taxes Year‐over‐year growth rate of sales taxes based

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MER-2014-02.pdf

number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Advance Retail Sales Year‐over‐year growth rate of retail sales based number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Sales‐Use Taxes Year‐over‐year growth rate of sales taxes based

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MER-2013-12.pdf

number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Advance Retail Sales Year-over-year growth rate of retail sales based number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Sales-Use Taxes Year-over-year growth rate of sales taxes based

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Labor_Market_Update_Sept_2021.pdf

up to the final week of the program, and very few recipients appear to have returned to prior or new employment. Total amounts received did not change in the final month of extra benefits as the PUA benefits actually increased during into the state of the Pennsylvania economy. Labor Market Update September 2021 June July August June July August Total Payroll Employment -389.1 -358.3 -362.0 28.5 -11.6 -0.1 Construction -23.1 -24.8 -24.2 1

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Labor_Market_Update_June_2021.pdf

26, 2021.) Despite purchases motivated by the substantial transfer of federal funds, the latest payroll jobs data show that Pennsylvania employment gains have stagnated. The year-over-year change in payroll jobs is nearly identical for the latest three months of May jobs figures are released later this month. Labor Market Update June 2021 Feb Mar Apr Feb Mar Apr Total Employment -443.5 -431.5 -444.5 42.8 39.2 51.4 Construction -10.4 -12.2 -10.9 -0

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Labor_Market_Update_July_2021.pdf

recipients had only a marginal, if any, connection to the labor force. To the extent that available child care limits employment options, that issue will likely moderate as federal benefits approach expiration and former childcare workers return to the labor market. Labor Market Update July 2021 Apr May Jun Apr May Jun Total Employment -446.9 -432.3 -394.5 49.0 44.8 23.1 Construction -13.4 -18.3 -23.3 14

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2020_Mid_Year_Update.pdf

1.3% 2.0% 1.8% 1.9% Net Payroll Jun 2019 58.8 65.6 57.7 54.6 Employment (000s) Jan 2020 58.8 65.6 45.6 45.4 45.7 Note: Real GDP and Wage data revised the closing day of the quarter, not averages for the quarter. Source: U.S. forecasts from IHS Markit. Annual PA Employment Change (000s) January 28, 2020 4 2017 2018 2019 Mining-Logging 1.7 1.9 1.0 Construction 9.9

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2018_Mid-Year_Update.pdf

CPI-U Jun 2017 0.6% 2.0% 2.0% Jan 2018 0.6% 1.3% 2.3% 2.2% Employment (000s) Jun 2017 52.2 54.4 52.5 Jan 2018 52.2 60.4 61.8 60.1 Note be revised down. Source: U.S. Bureau of Labor Statistics. Data for 2017 are preliminary and will be revised. PA Employment Growth (000s) Mid-Year Update Federal Tax Changes 29.Jan.2018 6 Mid-Year Update Changes to U.S. corporate

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2013-08 Monthly Economic Summary.pdf

number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Advance Retail Sales Year-over-year growth rate of retail sales based number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Sales-Use Taxes Year-over-year growth rate of sales taxes based

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2013-07 Monthly Economic Summary.pdf

number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Advance Retail Sales Year-over-year growth rate of retail sales based number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Sales-Use Taxes Year-over-year growth rate of sales taxes based

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2013-04 Monthly Economic Report.pdf

number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Advance Retail Sales Year-over-year growth rate of retail sales based number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Sales-Use Taxes Year-over-year growth rate of sales taxes based

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2013-03b Monthly Economic Summary.pdf

number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Advance Retail Sales Year-over-year growth rate of retail sales based number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Sales-Use Taxes Year-over-year growth rate of sales taxes based

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2013-02 Monthly Economic Report.pdf

number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Advance Retail Sales Year-over-year growth rate of retail sales based number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Sales-Use Taxes Year-over-year growth rate of sales taxes based

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2013-01 Monthly Economic Report.pdf

number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Advance Retail Sales Year-over-year growth rate of retail sales based number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Sales-Use Taxes Year-over-year growth rate of sales taxes based

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2012-12 Monthly Economic Summary FINAL.pdf

number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Advance Retail Sales Year-over-year growth rate of retail sales based number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Sales-Use Taxes Year-over-year growth rate of sales taxes based

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2012-11 Monthly Economic Summary- DRAFT 6.pdf

number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Advance Retail Sales Year-over-year growth rate of retail sales based number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Sales-Use Taxes Year-over-year growth rate of sales taxes based

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2012-10 Monthly Economic Summary FINAL.pdf

number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Advance Retail Sales Year-over-year growth rate of retail sales based number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Sales-Use Taxes Year-over-year growth rate of sales taxes based

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2012-09 Monthly Economic Summary 7.pdf

number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Advance Retail Sales Year-over-year growth rate of retail sales based number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Sales-Use Taxes Year-over-year growth rate of sales taxes based

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2012-08 Monthly Economic Summary_Final.pdf

number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Advance Retail Sales Year-over-year growth rate of retail sales based number of individuals unemployed divided by the labor force. 1 Monthly Net Job Gains (000s) Average net increase in payroll employment based on latest three months of data. 2 Sales-Use Taxes Year-over-year growth rate of sales taxes based

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2001_hr266.pdf

rates pursuant to recently enacted legislation. 7 (3) National trends and studies on the degree to which 8 employees terminating employment under DC plans liquidate 9 their funds instead of maintaining them for retirement as 10 well as related DB plan to the General Assembly's consideration, such as 28 recruitment benefits of DC plans and the State's future 29 employment needs; 30 and be it further 20010H0266R2371 - 4 - 1 RESOLVED, That the Public School Employees' Retirement System 2 and the

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Pensions

A Employee Pension Law (City of Scranton), removing the statutory three-year time limit within which a member must commence employment with the city following military service in order to be eligible to purchase service credit for nonintervening military service and firefighters in the City of Scranton, by removing the statutory three-year time limit within which a member must commence employment with the City following military service in order to be eligible to purchase service credit for nonintervening military service and

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Links

IFO - Links IFO • Latest Releases • Data • Calendar • Right-to-Know • About • About IFO • Contact IFO • Email Subscription • Links • Follow on Twitter • • Links U.S. Economic Indicators • Bureau of Economic Analysis • Bureau of Labor Statistics • Census Bureau • Weekly Jobless Claims • Employment Situation • Advance Retail Sales • Existing Home Sales • GDP and Profits • Monthly Personal Income • New Residential Sales • Case-Shiller Home Prices • Consumer Confidence PA Economic Indicators • Labor Force and Employment • Quarterly Personal Income • Gross State Product • Business Outlook, Philadelphia Fed State Government • Department of Labor and Industry • Department of Revenue

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Witgert Nov 15, 2012.pdf

FPL • Childless adults are not eligible Medicaid Primer – ACA expansion • Categorical eligibility rules eliminated – Everyone eligibility regardless of family or employment status • Financial eligibility rules simplified – Everyone eligible up to 133% FPL • Enhanced FMAP for “new eligibles” • 100% 2014-2016 • 90%

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State_Tax_Comparison_2020_11.pdf

millions. U.S. Average 7.63% 16 Although reported on the federal income tax return, payments for Self-Employment Contributions Act (SECA) are not included because those payments are not income taxes. 17 For a more detailed analysis, see “Impact of

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Select Committee Oct 1 2012 FINAL.pdf

sales tax collections.  It does not capture any macroeconomic “feedback” effects. Impact is unclear.  Such as change in employment levels. 1.Oct.2012 Analysis of HB 1776 and SB 1400 of 2012 – Slide 5 Table 1 Overview Of Property

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Revenue_Estimate_2015-06-15_Snapshot.pdf

rate of increase is expected to be lower than the prior year’s rate. Personal Income Tax – Continued wage and employment gains motivate growth in withholding revenues. A technical factor relating to the calendar results in an extra withholding due date

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Revenue_Estimate_2014-06-16_Snapshot.pdf

projected to display continued growth. Personal Income Tax – Deposits from employer withholding are projected to increase modestly due to increased employment and low wage inflation. Quarterly and annual remittances are expected to exhibit much stronger growth in FY14-15 because these

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Revenue-Estimate-2019-05-Presentation.pdf

S. Bureau of Economic Analysis, U.S. Bureau of Labor Statistics, Federal Housing Finance Authority, Zillow. Change in PA Payroll Employment (000s) May 20, 2019 6 2016 2017 2018 2019 Q1 Mining-Logging -9.0 1.7 1.9 1.2

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Revenue Conference Presentation Jan 2013 FINAL.pdf

2012 1.9% 1.5% 2.3% 3.0% Jan 2013 1.2% 1.8% 1.5% 2.3% Payroll Employment (Net Job Gains, 000s) May 2012 67.2 57.5 84.1 84.4 Jan 2013 67.2 36.1

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RB_2021_11_Wage_Growth.pdf

it is a broader measure that includes the impact of new jobs added from the prior year (or rehires) and employment shifting across industries (i.e., leaving a low-wage job for a higher one). To examine wage trends for Pennsylvania

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RB_2021_02 County Income Patterns.pdf

rent. Moreover, some of those counties (Armstrong, Bradford, Potter and Susquehanna) recorded strong income growth despite a reduction in overall employment levels. Independent Fiscal Office Page 3 Resident Earnings County personal income can be decomposed into three categories: (1) resident earnings

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RB-2020-10-Impact_of_TCJA_on_PA_Taxpayers.pdf

1,844 -$13,995 -$1,464 Percentage Tax Cut -34.4% -13.4% -12.0% -14.4% Other Data Self-Employment Tax $0.8 $0.7 $0.7 $2.2 $0.8 $0.7 $0.7 $2.2 Medicare Tax $0

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RB-2016-02.pdf

qualify, the facility must make a capital in‐ vestment of $1 billion and create 2,500 full‐time jobs. Promoting Employment Across Pennsylvania Program $0 $0 Permits companies to retain 95 percent of Pennsylvania personal income tax withheld from new employees

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Presentation_PICPA_12-3-2014.pdf

Bureau of Labor Statistics. Forecast by IFO based on published data through August 2014. 13 3.Dec.2014 Change in Employment: 2003 to 2014 0.70 0.80 0.90 1.00 1.10 1.20 1.30 2003 2005 2007

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Presentation_PBC_6-12-14.pdf

annual levels. 2014 figures are forecast from 2013 preliminary data. Source: U.S Bureau of Labor Statistics and IFO (forecast). Employment: 2007 vs. 2014  Student Loan debt up dramatically. o Debt burden reduces ability to purchase homes and cars. o

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Presentation_2016-05-12_PaDUC_Impact_of_Demographics.pdf

8% 30 0.5% Note: calendar years, change in average annual levels. Source: U.S Bureau of Labor Statistics. PA Employment Changes By Sector 19 12.May.2016 Expenditure Impacts All expenditure projections motivated by: (1) inflation projections; and (2) growth

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Presentation-2019-3-1-EPLC.pdf

9 25.1 Total Net Jobs 50.0 62.9 66.9 Source: U.S. Bureau of Labor Statistics, Current Employment Statistics. Excludes self-employed. 2018 forecast by IFO. Will There Be Enough Workers? March 1, 2019 10 0.65 0

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Presentation-2019-01-Mid-Year-Update.pdf

U.S. forecasts from IHS Markit. Data from U.S. Bureau of Economic Analysis and Wall Street Journal. Annual PA Employment Growth (000s) January 29, 2019 4 2015 2016 2017 2018 Mining-Logging -3.8 -8.9 1.6 1.9

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Presentation-2018-11-19-CCAP.pdf

9 25.1 Total Net Jobs 50.0 62.9 66.9 Source: U.S. Bureau of Labor Statistics, Current Employment Statistics. Excludes self-employed. 2018 forecast by IFO. PA Jobs Creation Since 2006 November 19, 2018 7 0.80 0

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Presentation-2018-06-PICPA.pdf

Management-Consulting 4.7% 1.2% 1.9% $97,774 Source: U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages. 2017 is preliminary. June.12.2018 7 PA Natural Gas Statistics 2014 2015 2016 2017 2018 Production (bcf

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PICPA Presentation_ June 11, 2019.pdf

S. Bureau of Economic Analysis, U.S. Bureau of Labor Statistics, Federal Housing Finance Authority, Zillow. Change in PA Payroll Employment (000s) June 11, 2019 6 2016 2017 2018 2019 Q1 Mining-Logging -9.0 1.7 1.9 1.2

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perez ppt.pdf

2012 State Budget Outlook: Strengths  State revenue performance (35 states and PR)  Budget reserves (AK, ME, NE)  Employment growth (MI, OK and VA)  Agricultural economy (IA, SD) Source: NCSL survey of state legislative fiscal offices, Fall 2011

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PBB_Board_Hearing_Sept_28_2021.pdf

term presence ▪ Move application due date out 15-30 days | more time to compile payroll data ▪ Formal documentation of baseline employment | ensures all jobs are new (no current abuse, a safeguard recommendation) September 28, 2021 6 CreationDate: 2021-09-28 17

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PBB_Board_Hearing_Apr_26_2021.pdf

June 30, 2035 ▪ Only 2 designated KSDZs | Aliquippa and Bethlehem ▪ Only 1 taxpayer participates | limited analysis Recommendations ▪ Documentation of baseline employment | ensures all jobs are new ▪ Implement program/project caps | limits tax impact ▪ Allow program to expire | limited use not worth

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PBB_2021_PSP_REPORT_ADDENDUM.pdf

a misconduct allegation which, if founded, would give rise to formal discipline (written reprimand, suspension, demotion, transfer, or termination from employment). IAD investigations also consist of those incidents which automatically require an investigation due to department regulations. Supervisory resolutions are conducted

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PBB_2021_DMVA_REPORT_ADDENDUM.pdf

Education Development test. HiSET is the High School Equivalency Test. Placement is defined as any one or combination of education, employment or military participation. Mentors of cadets support and follow up with cadets and report information to DMVA on placement. Keystone

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PBB_2020_DOS_REPORT.pdf

the past. The time to obtain a professional license in Pennsylvania should be minimized to avoid barriers to employment. Analysis of these data in real- time will allow focus to be directed to licensure areas with longer processing times or statewide

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PBB_2019_JCJC_Report.pdf

and make recommendations on the same to courts presiding over juvenile proceedings; (4) examine the personnel practices and employment standards used in probation offices in the Commonwealth; and (5) establish standards and make recommendations on the same to the courts. In

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PACB_Presentation_2021_8.pdf

Number Change (000s) YOY Percent Change Jul 20 Jan 21 Jul 21 Jul 20 Jan 21 Jul 21 Total Payroll Employment -556 -458 -362 -9.2% -7.6% -6.6% Construction -22 -12 -25 -7.9% -4.9% -9.7% Manufacturing

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NewsStand_2019_October.pdf

audited just 0.59% of individual tax returns in tax year 2018—marking the 7th year of decline as IRS employment shrinks. Personal Consumption Expenditure Growth Accelerated in 2018 Pennsylvania personal consumption expenditures grew 4.9% in 2018, accelerating from a

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NewsStand_2019_June.pdf

in the country. Private Racetrack Industry Employs 30,000 On June 7, the Bureau of Labor Statistics released establishment and employment statistics for privately owned racetracks. California had the most privately owned racetracks (85), followed by Florida (60) and Illinois (41

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Newsstand_2019_April.pdf

Pennsylvania News Labor Market Slows in 2019 Q1 On April 19, the U.S. Bureau of Labor Statistics released state employment data for March. The data reveal a nota- ble slowdown in the number of jobs created for 2019 Q1. The

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Municipal_Analysts_Presentation.pdf

Bureau of Economic Analysis and U.S. Bureau of Labor Statistics. October 19, 2017 13 Service Sector Drives Job Gains Employment (000s) Change (000s) 2007 2017 Number Percent Manufacturing 659 552 -107 -16.2% Local Government 490 449 -41 -8.3%

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MRU-2020-05.pdf

8 million, as payments began to arrive in accordance with the extended due dates. Despite a decline in April payroll employment of roughly 17 percent, withholding collections for April/May were only 7 percent below the same period of the prior

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Monthly_Economic_Update_Table_December_2020.pdf

Economic Indicators 1. Source: U.S. Bureau of Labor Statistics- Survey of Households. 2. Year-over-year increase in payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source

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Monthly_Economic_Update_September_2021_Indicators.pdf

Economic Indicators 1. Source: U.S. Bureau of Labor Statistics- Survey of Households. 2. Year-over-year increase in payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source

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Monthly_Economic_Update_September_2021.pdf

Economic Indicators 1. Source: U.S. Bureau of Labor Statistics- Survey of Households. 2. Year-over-year increase in payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source

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Monthly_Economic_Update_September_2020.pdf

Economic Indicators 1. Source: U.S. Bureau of Labor Statistics- Survey of Households. 2. Year-over-year increase in payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source

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Monthly_Economic_Update_October_2021_Indicators.pdf

Economic Indicators 1. Source: U.S. Bureau of Labor Statistics- Survey of Households. 2. Year-over-year increase in payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source

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Monthly_Economic_Update_October_2021.pdf

Economic Indicators 1. Source: U.S. Bureau of Labor Statistics- Survey of Households. 2. Year-over-year increase in payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source

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Monthly_Economic_Update_November_2021.pdf

Economic Indicators 1. Source: U.S. Bureau of Labor Statistics- Survey of Households. 2. Year-over-year increase in payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source

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Monthly_Economic_Update_May_2020.pdf

Economic Indicators 1. Source: U.S. Bureau of Labor Statistics- Survey of Households. 2. Year-over-year increase in payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source

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Monthly_Economic_Update_June_2021_Indicators.pdf

Economic Indicators 1. Source: U.S. Bureau of Labor Statistics- Survey of Households. 2. Year-over-year increase in payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source

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Monthly_Economic_Update_June_2020.pdf

Economic Indicators 1. Source: U.S. Bureau of Labor Statistics- Survey of Households. 2. Year-over-year increase in payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source

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Monthly_Economic_Update_July_2021_Indicators.pdf

Economic Indicators 1. Source: U.S. Bureau of Labor Statistics- Survey of Households. 2. Year-over-year increase in payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source

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Monthly_Economic_Update_July_2021_Final.pdf

Economic Indicators 1. Source: U.S. Bureau of Labor Statistics- Survey of Households. 2. Year-over-year increase in payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source

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Monthly_Economic_Update_January_2021_Indicators.pdf

Economic Indicators 1. Source: U.S. Bureau of Labor Statistics- Survey of Households. 2. Year-over-year increase in payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source

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Monthly_Economic_Update_February_2021_Indicators.pdf

Economic Indicators 1. Source: U.S. Bureau of Labor Statistics- Survey of Households. 2. Year-over-year increase in payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source

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Monthly_Economic_Update_December_2020.pdf

Economic Indicators 1. Source: U.S. Bureau of Labor Statistics- Survey of Households. 2. Year-over-year increase in payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source

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Monthly_Economic_Update_August_2021.pdf

Economic Indicators 1. Source: U.S. Bureau of Labor Statistics- Survey of Households. 2. Year-over-year increase in payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source

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Monthly_Economic_Update_April_2021_Indicators.pdf

Economic Indicators 1. Source: U.S. Bureau of Labor Statistics- Survey of Households. 2. Year-over-year increase in payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source

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Monthly_Economic_Update_April_2021.pdf

Economic Indicators 1. Source: U.S. Bureau of Labor Statistics- Survey of Households. 2. Year-over-year increase in payroll employment. Source: U.S. Bureau of Labor Statistics- Survey of Establishments. 3. Average price for one gallon of regular gasoline. Source

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Memo-2019-03-Income-and-Property-Tax-Burden-for-Retirees.pdf

state. Table 6 FYE 2016 Long-Term Liabilities by State Notes: dollar amounts in millions. OPEB stands for Other Post-Employment Benefits. 1 Pew “50-State Survey of Retiree Health Care Liabilities“, Figure 4. 3 Individual State Pension System Reports/CAFRs

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Labor_Market_Update_October_2021.pdf

61.0% despite strong demand for workers. Labor Market Update October 2021 July August Sept July August Sept Total Payroll Employment -358.3 -365.5 -384.8 -11.6 -3.6 40.0 Construction -24.8 -24.1 -25.9 0

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Labor_Market_Update_June_23_2021.pdf

traditional UC recipient may claim $6,500. Labor Market Update June 23, 2021 Mar Apr May Mar Apr May Total Employment -431.5 -446.9 -432.7 39.2 49.0 44.4 Construction -12.2 -13.4 -18.2 4

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Initial_Estimate_May_2017_Presentation.pdf

1 50.6 n.a. May 2017 52.2 55.7 54.1 3 02.May.2017 Change in Payroll Employment (000s) 2015 2016 2017 Mining-Logging -3.8 -9.0 -1.4 Construction 6.5 3.7 7.5 Manufacturing

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IFO_Revenue_Estimate_2013-14_Mid-Year_Update.pdf

by 2.2 percent in the first half, well below the 3.6 percent projected for the full fiscal year. Employment and wage growth trends support a lower estimate for withholding revenues.  PIT growth will be restrained by lower annual

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IFO_Analyst_Opening.pdf

Employment Opportunity Independent Fiscal Office Analyst The Independent Fiscal Office (IFO) is accepting applications to fill an analyst position. The IFO

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GPNP July 10, 2012 final.pdf

Jul.2012 10 2012 GPNP Conference Economic Outlook: Another Summer Slowdown?  European debt crisis continues to simmer.  Weak employment reports for May and June.  Uncertainty over federal tax and spending policy.  Consumer confidence declining. 10.Jul.2012

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EPLC Feb 2020 FINAL.pdf

2 20.5 Total Net Jobs 58.8 65.6 45.6 Source: U.S. Bureau of Labor Statistics, Current Employment Statistics. Excludes self-employed. 2019 is preliminary. PA Cash Income Sources ($ billions) February 28, 2020 8 2006 Share 2018 Share

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Econ Summit Presentation Feb 28 2017.pdf

875 978 102 11.7% Transportation-Storage 240 270 29 12.2% Admin-Management 392 442 50 12.7% Total Employment 5,800 5,880 80 1.4% Source: U.S. Bureau of Labor Statistics. Data for 2016 are preliminary. PA

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Demographics_Outlook_2020.pdf

counted as residents for the purpose of the Census. While most return to their home state, some secure employment and remain in the state. 2010-15 2015-20 2020-25 2025-30 Start of Period 12,711 12,785 12,802

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