Pennsylvania's Strained Nursing HomesThe IFO posted a new research brief that discusses placement waitlists and potential cost implications from the contraction in nursing home capacity since 2019. Tags: brief, homes, nursing, research |
Pennsylvania's Strained Nursing homesThe IFO posted a new research brief that discusses placement waitlists and potential cost implications from the contraction in nursing home capacity since 2019. 10/25/2023 |
School District Property Tax ForecastThis report contains the IFO's forecast of school district property tax collections from FY 2019-20 to FY 2025-26. The report also contains projections of the Act 1 index and estimates of school district property taxes attributable to homestead property. (This report was originally posted on February 2, 2021. Based on new data for the 2020 Q4 ECI, which impacts the FY 2020-21 ECI computation, this report was updated and reposted.) 02/24/2021 |
School District Property Tax ForecastThis report contains the IFO's forecasted school district property tax collections from FY 2018-19 through FY 2024-25. The report also contains projections of the Act 1 index and estimates of school district property taxes that can be attributed to homesteads. Total school property tax collections for FY 2018-19 ($15.0 billion) and FY 2019-20 ($15.3 billion) are estimated using millage rates published by the Pennsylvania Department of Education and property tax assessment data. For FY 2020-21 through FY 2024-25, collections are projected based on the statutory, economic and structural factors that affect growth rates of property taxes. During that period, total school property tax collections are projected to grow at an average annual rate of 3.9 percent, reaching $18.6 billion by FY 2024-25. 02/06/2020 |
School District Property Tax RebateIn response to a legislative request, the IFO transmitted a letter that analyzes a set of proposed school district property tax rebates for all homestead property owners. 11/12/2019 |
SCHOOL DISTRICT PROPERTY TAX FORECASTThis report contains the IFO's forecasted school district property tax collections from FY 2017-18 through FY 2023-24. The report also contains projections of the Act 1 index and estimates of school district property taxes that can be attributed to homesteads. Total school property tax collections for FY 2017-18 ($14.5 billion) and FY 2018-19 ($14.9 billion) are estimated using millage rates published by the Pennsylvania Department of Education and property tax assessment data. For FY 2019-20 through FY 2023-24, collections are projected based on the statutory, economic and structural factors that affect growth rates of property taxes. During that period, total school property tax collections are projected to grow by an average annual rate of 3.2 percent, reaching $17.3 billion by FY 2023-24. 03/18/2019 |
homestead Exclusion and PITIn response to a legislative request, the IFO transmitted a letter that computes the level of personal income tax (PIT) increase needed to fully fund a 100% homestead exclusion for school district property taxes. 03/13/2019 |
Fiscal Impact of School Property Tax RebatesIn response to a legislative request, the IFO estimated the fiscal impact of a school property tax rebate for all homesteads. The rebate would be equal to the statewide average school property tax paid by homesteads. The response includes both baseline estimates for currently eligible homesteads and estimates for a behavioral effect based on the filing of additional homestead applications in response to the availability of rebates. 03/13/2018 |
School District Property Tax ForecastThis research brief contains the IFO's forecasted school district property tax collections from FY 2016-17 through FY 2022-23. The brief also contains estimates of school district property tax collections that can be attributed to homestead property. Total school property tax collections for FY 2016-17 ($14.0 billion) and FY 2017-18 ($14.4 billion) are estimated using millage rates published by the Pennsylvania Department of Education and property tax assessment data. For FY 2018-19 through FY 2022-23, collections are projected based on the statutory, economic and structural factors that affect growth rates of property taxes. During that period, total school property tax collections are projected to grow by an average annual rate of 3.3 percent, reaching $17.0 billion by FY 2022-23. 01/18/2018 |
School Property Taxes; Households Age 60, 65 and 70 or OlderIn response to a legislative request, the IFO analyzed data from the American Community Survey (ACS) to estimate the share of school property taxes paid by households in which the householder (or spouse, if applicable) had attained the ages 60 or over, 65 or over and 70 or over. The analysis applies the shares derived from the ACS to estimated school district property tax collections attributable to homestead properties for FY 2015-16 to further estimate the dollar amounts paid by such households. 12/11/2017 |
County homestead DetailAs an extension of its recent research relating to property taxes, the IFO has released additional data regarding homestead property. Estimates for the numbers and assessed values of homestead properties by county are based, in large part, on the results of a survey of county assessment offices. The County Commissioners Association of Pennsylvania provided valuable assistance by coordinating the survey. Data for Philadelphia has been adjusted based on new information provided by the Philadelphia Department of Revenue. 12/06/2017 |
Property Tax Rebate EstimateLetter providing estimates for a potential proposal to give homestead owners school property tax rebates equal to the statewide average school property tax paid (March 2015). 03/11/2015 |
Projections of school property taxes paid by Pennsylvania homesteadsLetter containing projections of the school property taxes paid by Pennsylvania homesteads (September 2013). 09/16/2013 |
Analysis of Michigan Property Tax ReformThis report presents the results from an analysis of the Michigan property tax reform known as Proposal A. Enacted in 1994, Proposal A replaced all local property taxes used for school operating purposes with higher sales and use, realty transfer and tobacco taxes. It also created a distinction between homestead and nonhomestead property to facilitate the statewide levy of uniform property taxes on those classes of property. The report makes extensive use of data published by various Michigan executive and legislative agencies to illustrate the impact of property tax reform on tax revenues, millage rates, per pupil funding levels and the property tax base over the past two decades. 09/16/2013 |
PBB_2021_DMVA_REPORT_ADDENDUM.pdfblank. – Table of Contents Background on Performance-Based Budgeting ............................................................ 1 Department of Military & Veterans Affairs Overview .................................................... 3 Activity 1: Veterans Homes ........................................................................................ 7 Activity 1: Veterans Homes (Addendum) .................................................................. 13 Activity 2: Outreach to Veterans .............................................................................. 15 Activity 3: PA National Guard and Military Support .................................................... 21 Activity 4: Keystone Hits: 87 |
PBB_2022_DHS_REPORT_ADDENDUM.pdfActivity 7: Quality Child Care ............................................................................................................. 43 Activity 7: Quality Child Care (Addendum) .......................................................................................... 49 Activity 8: Early Intervention ............................................................................................................. 51 Activity 9: Home Visiting and Family Support ...................................................................................... 55 Activity 10: Children’s Health Insurance Program ................................................................................ 59 Activity 10: Children’s Health Insurance Program LIFE Program.............................................. Support residents age 55+ to live independently 3 FFS Long-Term Care.................................... Manage delivery of waiver and nursing home services 4 Adult Protective Services............................... Handle reports of suspected abuse for adults age 18-59 5 Licensing and Inspections............................. License Hits: 52 |
PBB_2022_AGING_REPORT_Addendum.pdf13% 15% Physical abuse -- 16% 19% 17% 13% Sexual abuse -- 1% 1% 1% 1% Share of older adults in nursing homes 2,5 Residents age 75 to 84 in nursing homes 20,102 20,356 20,360 18,015 -- Share of all residents age 75 to 84 3.0% 3.0% Hits: 52 |
PBB_2021_DHS_REPORT_ADDENDUM.pdf66.1. Child welfare services are shifting focus to prevention services in combination with the reduc- tion in out-of-home care for children. The foster care rate per 1,000 children has declined from 6.1 in FY 2015-16 to 5.3 in FY 2019-20. This reflects a shift towards prevention services instead of out-of-home care. For children in out-of-home care, the share of children in congregate care (one of the most restrictive Hits: 41 |
Five_Year_Outlook_2019.pdfThe temporary students are counted as residents for the purpose of the Census. While most return to their home state, some secure employment and remain in the state. Birth, death and migration trends in Pennsylvania are described in more detail over hospitality (14.8 percent). Much of the net jobs gains for the healthcare sector is related to home health care or care for the elderly/disabled. During the five-year span, those jobs comprised nearly two-thirds of the net Hits: 28 |
Five_Year_Outlook_2023.pdf2023 shows that the regional CPI-U grew by 3.5% compared to the prior year. ▪ The increase in median home values has slowed, but relative to 2019 Q3, the home value index increased 40.6%, greatly reducing home affordability. Due to rapidly accelerating home prices and mortgage rates, home sales Hits: 27 |
Monthly_Economic_Update_Oct_2023.pdfUS Home Sales on Pace to Fall to Lowest Level Since 2008 A recent article by the Wall Street Journal forecasts that 2023 U.S. home sales will be the weakest since 2008. A monthly report by the National Association of Realtors (NAR) shows that the Hits: 20 |
Five_Year_Outlook_2021.pdffactors that motivate departures from the labor force include: ▪ Continued concerns with the transmission of COVID-19. ▪ A shift to home schooling or care for elderly parents who prefer to live with children and not resi- dential care facilities or nursing homes. ▪ Early retirements. However, it is unclear whether that is a permanent or temporary trend. Sept '19 Sept '21 Number Percent Hits: 19 |
MTR-2017-01.pdf9% FYTD $16,097 $15,877 $220 Growth 1.2% 1.2% 4.8% Dollar amounts are in millions. PENNSYLVANIA HOME SALES STRONG Pennsylvania home sales continued a pattern of strong growth in 2016. The Pennsylvania Association of Realtors (PAR) releases quarterly reports on home Hits: 17 |
MTR-2016-04.pdf9% Dollar amounts are in millions. PA HOUSING MARKET SOLID The Pennsylvania Association of Realtors (PAR) publishes quarterly data on home prices and sales completed by realtors in the Commonwealth. 1 The data do not provide coverage of all home sales (e.g., sales completed by homeowners), but they do capture the majority of home sales and provide useful information Hits: 17 |
Monthly_Economic_Update_June_2023.pdfNumber of PA Homes Listed for Sale Declined 23.3% in May This update uses recent housing market data to assess the performance of to July. Since January 2022, mortgage rates have nearly doubled, and analysts are evaluating how long higher rates will impact home sales and prices. This update tracks five housing metrics for Pennsylvania: ▪ Number of Homes Listed Number of homes listed for Hits: 17 |
Five_Year_Outlook_2022.pdfrelated worker shortage. The residual contraction is due to other factors such as savings and wealth accumulation, increased popularity of home and cyber schooling, care of elderly parents, on-going health concerns (e.g., long COVID) and extension of federal emergency 6% and de- celerated in 2022 Q3 to 8.1%. If the Shelter component is excluded (largely rent imputed to home- owners), the rates are 9.7% and 8.8%. ▪ The Unemployment Rate recorded an all-time low in September at Hits: 17 |
Five_Year_Outlook_2020.pdfattend college. The temporary students are counted as residents for the purpose of the Census. While most return to their home state, some secure employment and remain in the state. Section 2: Demographic Outlook | Page 7 Dependency Ratios Working-age residents recorded the largest contractions. The bottom of the table displays certain subsectors that expanded during the pandemic: couriers and messengers, home health care and real estate. The latest data show average payroll employment was 460,000 lower (-7.5 percent) than Hits: 17 |
Revenue_Estimate_2021_05.pdfpandemic accelerated long-term shifts in some consumer behaviors such as more online shopping and en- gaging in more at-home entertainment options (e.g., streaming services, at-home gyms, food de- livery services). ▪ Businesses largely revert to prior hiring and production operations, but many have streamlined operations and Hits: 16 |
MER-2014-11.pdfrate of retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year‐over‐year growth rate in the number of residential homes sold based on latest three months of data. 4 Consumer Sentiment Index A diffusion index that re Ðlects consumer optimism Hits: 16 |
June_Revenue_Estimate_2021.pdfpandemic accelerated long-term shifts in some consumer behaviors such as more online shopping and en- gaging in more at-home entertainment options (e.g., streaming services, at-home gyms, food de- livery services). ▪ Businesses largely revert to prior hiring and production operations, but many have streamlined operations and Hits: 16 |
Public Employee Retirement Laws of PA Local Governments (2009).pdfFiduciaries Code . . . . . . . . . . 5 Postretirement Adjustments for Certain Retired Municipal Police Officers and Firefighters . . . . . 7 Public Employee Pension Forfeiture Act . . . . . . . . . 8 Home Rule Charter Municipal Employee Retirement Systems . . . . . . . . . . . . . . . . . . . . . 12 Sources of Public Employee Retirement System Consulting Services, Information, and Technical Assistance . . . . . . . . . . . . . . . . . . . . 14 Probate, Estates and Fiduciaries Code (20 Pa. C.S. §§ 7301-7319), as well as by public employee pension plan statutes, home rule charters, and creating ordinances. For example, section 1804.1(d)(7) of The Third Class City Code (53 P Hits: 15 |
Monthly_Economic_Update_May_2023.pdfPA Homes Sold Decline by 20% from Prior Year; Listings Remain Flat This economic update uses recent housing market data to assess combats inflation, mortgage rates have increased dramatically, and analysts are evaluating whether high rates will have a material impact on home sales and prices. This update tracks five housing metrics for Pennsylvania: ▪ Number of Homes Listed Number of homes listed for Hits: 15 |
Monthly_Economic_Update_April_25_2023.pdfcombats inflation, mortgage rates have increased dramatically, and analysts are evaluating whether higher rates will have a material impact on home sales and prices. This update tracks five housing metrics for Pennsylvania: ▪ Number of Homes Listed Number of homes listed for sale during the month by the National Association of Realtors (NAR). In March, a Hits: 15 |
MER-2014-03.pdfrate of retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year‐over‐year growth rate in the number of residential homes sold based on latest three months of data. 4 Consumer Sentiment Index A diffusion index that re Ðlects consumer optimism Hits: 15 |
Monthly_Economic_Update_November_2020_Final.pdfconsumers forego spending on in-person services such as hair/nail salons, travel and dining, to goods such as furniture, home and personal care products and motor vehicles. In 2020 Q3, consumers spent 7.2% less on services and 6.9% 9% from the prior year to $42,700 per capita due to declines in credit card debt (-8.9%) and home equity line of credit debt (-11.9%). Nationally, consumer debt increased to $14.35 trillion, 2.9% growth over the Hits: 14 |
Revenue_Estimate_2022_06.pdfSUT revenues. Figure 1.3 YOY Growth in Philadelphia CPI-U: Total and Components Note: Taxable includes food away from home, cars, furniture, appliances, recreation and communications. Non- taxable includes shelter, gasoline, groceries, healthcare, fuels-utilities and other services. Source: U Page 10 Financial and Consumer Data Table 1.6 concludes the section with recent data from national financial markets, Pennsylvania home values and rents and per capita consumer debt. The table shows YOY growth rates, while the final column displays the Hits: 13 |
Revenue_Estimate_2022_05.pdfSUT revenues. Figure 1.3 YOY Growth in Philadelphia CPI-U: Total and Components Note: Taxable includes food away from home, cars, furniture, appliances, recreation and communications. Non- taxable includes shelter, gasoline, groceries, healthcare, fuels-utilities and other services. Computed growth Page 10 Financial and Consumer Data Table 1.6 concludes the section with recent data from national financial markets, Pennsylvania home values and rents and per capita consumer debt. The table shows YOY growth rates, while the final column displays the Hits: 13 |
Revenue_Estimate_2023_06.pdfTable 1.4 Change in Payroll Jobs Economic Outlook | Page 5 2023 Q1 (end of March) while the average Pennsylvania home value grew 44.5%. In general, high rates of inflation tend to disproportionately benefit asset owners. For CY 2022 Inheritance tax revenues (45%) outperformed economic growth, largely due to the inflation of assets such as stock holdings and homes. Personal income tax - Other includes non-corporate business profits, capital gains, dividends, rent and taxable interest. Revenues from those Hits: 12 |
Revenue-Estimate-2023-05.pdfTable 1.4 Change in Payroll Jobs Economic Outlook | Page 5 2023 Q1 (end of March) while the average Pennsylvania home value grew 44.5%. In general, high rates of inflation tend to disproportionately benefit asset owners. For CY 2022 Inheritance tax revenues (45.7%) outperformed economic growth, largely due to the inflation of assets such as stock holdings and homes. Personal income tax (PIT) - Other includes non-corporate business profits, capital gains, dividends, rent and taxable interest. Revenues from Hits: 12 |
RB_2022_08_Worker_Shortage.pdfshow a total contraction of 59,900 payroll jobs. Two subsectors comprise 80% of the July net jobs contraction: nursing home and residential care (-27,500) and full-service restaurants (-20,300). Other sectors or subsectors with notable job losses include feeling-disrespected/. July 2019 July 2022 Change Total Payroll Employment (000s) 6,040.9 5,981.0 -59.9 Nursing Home and Residential Care 203.8 176.3 -27.5 Full-Service Restaurants 200.8 180.5 -20.3 All Manufacturing Hits: 12 |
RB_2022_07_Worker_Shortage.pdfdata show a total contraction of 139,200 payroll jobs. Two subsectors comprise 40% of the net jobs contraction: nursing home and residential care (-29,700) and full-service restaurants (-26,600). Other sectors or subsectors with notable job losses include feeling-disrespected/. May 2019 May 2022 Change Total Payroll Employment (000s) 6,094.2 5,955.0 -139.2 Nursing Home and Residential Care 203.3 173.6 -29.7 Full-Service Restaurants 202.6 176.0 -26.6 Non-Profit Hits: 12 |
RB_10_2023_PA_Strained_Nursing_Homes.pdfA recent Wall Street Journal analysis of nursing home data from the Centers for Medicare and Medicaid Services (CMS) found that U.S. nursing home capacity has contracted since 2019. 1 Data show that Pennsylvania recorded a similar contraction in nursing home facilities (-3.3% Hits: 12 |
Monthly_Economic_Update_March_2021.pdfPennsylvania Home Values Grew 10.9% in 2020 Q4 The Federal Housing Finance Agency recently released 2020 Q4 home price index data. Pennsylvania home values grew 10.9% in 2020 Q4 compared to the same quarter of the prior Hits: 11 |
Senate Appropriations Response Letter 3-6-2020.pdfinformation raised at the recent budget hearing for the Independent Fiscal Office (IFO). Senator Hughes noted the recent increase in home mortgage refinances and requested information on how the proceeds were spent. Data for the most recent refinances are not yet loan, the extra funds were used for the following purposes: Pay off other bills or debts (40 percent) Home repairs or new construction (31 percent) Savings (14 percent) Auto or other major purchases (9 percent) College Hits: 10 |
Roundtable_Jan_2024_Final.pdf5.2% 4.3% 4.3% Philadelphia CPI-U 6.9% 3.9% 3.9% 3.7% Housing Market FHFA Home Value Index 5.2% 5.3% 8.1% -- RedFin Home Sales -20.1% -17.6% -17.5% -5.9% 30-Yr Mortgage Rate 6.37% 6.51% 7.04% 7 Hits: 10 |
Revenue-Estimate-2020-05.pdfcertain large southeastern counties March 23: all non-life sustaining businesses close (some obtain waivers), stay-at-home orders for certain counties April 1: stay-at-home orders for all counties April 9: schools close for remainder of year May 1: construction projects, golf courses and certain Hits: 10 |
Official-Revenue-Estimate-2020-06.pdfcertain large southeastern counties March 23: all non-life sustaining businesses close (some obtain waivers), stay-at-home orders for certain counties April 1: stay-at-home orders for all counties April 9: schools close for remainder of year May 1: construction projects, golf courses and certain Hits: 10 |
2024_Mid_Year_Update_Final.pdf5.2% 4.3% 4.3% Philadelphia CPI-U 6.9% 3.9% 3.9% 3.7% Housing Market FHFA Home Value Index 5.2% 5.3% 8.1% -- RedFin Home Sales -20.1% -17.6% -17.5% -5.9% 30-Yr Mortgage Rate 6.37% 6.51% 7.04% 7 Hits: 10 |
Response_Letter_9_23_2019.pdfolder, (2) additional Lottery-funded programs administered by the Departments of Aging, Revenue and Transportation and (3) funding for Veterans Homes in the Department of Military and Veterans Affairs. The cost estimates are broken out by type of funding (state, federal 20, while spending by the Department of Military and Veteran Affairs increased from $171 million to $185 million for Veterans Homes services for eligible veterans and spouses age 65 and older. Major General Fund Revenues Remitted by Seniors Your letter requested Hits: 9 |
PBB_Board_Hearing_Apr_28_2021.pdfDMVA Actual Spend and FTEs (FY 2019-20) April 28, 2021 7 FTEs Expenditures Activities Number Share Amount Share Veterans Homes 1,829 77.6% $209 61.2% Facilities Maintenance 280 11.9% 61 17.9% PA National Guard and Military Pennsylvania National Guard members are considered federal employees. DMVA GF Appropriations (FY 2020-21) April 28, 2021 8 Activities Veterans Homes GGO Education Assist. Program Fund Amputee & Paralyzed Veterans Pension Veterans Outreach Services Other Total Veterans Homes $95.3 -- -- -- -- -- $95.3 Hits: 9 |
PBB_2019_Criminal_Justice_Report.pdfawaiting a parole hearing due to one (or more) reasons. These reasons can include conditions such as: (1) home plan needed, (2) home plan rejected, (3) Bureau of Community Corrections referral pending, or (4) unpaid victim compensation fees. De- creases in this measure help to Hits: 9 |
2012-11 Monthly Economic Summary- DRAFT 6.pdfof retail sales based on lat- est three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year-over-year growth rate in residential home sales based on latest three months of data. 4 Consumer Confidence Index A diffusion index that reflects consumer optimism. A Hits: 9 |
Revenue_Estimate_2021_05_Presentation.pdfGains (000s) 56.0 -438.0 100.0 80.0 Wages-Salaries 4.3% -0.1% 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. Source: U.S. Bureau of Labor Statistics, U Hits: 8 |
PBB_2020_DHS_REPORT_Final_Updated.pdfwaiver app. 2 12.3 10.7 10.8 13.6 13.5 -- Avg. # days to process nursing home app. 2 19.8 17.5 16.5 18.3 15.5 -- % Accurate eligibility long-term care -- -- 97.1% 97.6% 97 for all MA claims adjudication and payments to providers in the MA fee-for-service (FFS) program (including home and community-based waivers) and capitation payments to the MA managed care plans. In addition, this system receives all encounter data from Hits: 8 |
PA_Economy_League_Presentation.pdfFor property tax, the non-business portion includes certain property that would not qualify as homestead property (e.g., vacation homes, rental homes). Figures represent the statutory tax incidence, or the entity that appears to pay the tax. The economic incidence will be Hits: 8 |
Monthly_Economic_Update_May_2020.pdfin 2018 and under the middle scenario could face an additional 2,778 deaths over the baseline trend. U.S. Home Sales and Price Recovery May Extend Through 2021 On May 12, Zillow released a national housing forecast through the end of 2021, which includes the impact of the COVID-19 pandemic on the housing market. April home sales are expected to fall 44% from February levels. Under the moderate recovery assumptions, Zillow’s most-likely scenario, home Hits: 8 |
Pennsylvania_Aging_Presentation.pdf Dramatic increase in last decade. Trend accelerates since Great Recession. Senior spending patterns shift. More debt. Home costs are a larger share of spending. Mortgage debt increases significantly. May 24, 2017 10 U.S. and PA Source: U.S. Bureau of Labor Statistics, Consumer Expenditure Survey, northeast region. May 24, 2017 15 Senior Housing Debt Increases Home Mortgage Credit-Auto-Student Age Dollar Dollar Growth Dollar Growth 25 -$1,333 -$5,625 -51.7% $4,292 42 Hits: 7 |
PBB_2020_DOH_REPORT_Final_Update.pdf14-1402(a.1). 5 The J-1 visa waiver allows eligible immigrants to waive the two-year home-country physical presence requirement if they agree to work full-time in a designated HPSA for no less than three years. 6 or registers a number of entities, including: hospitals, ambu- latory surgical centers, hospices, pediatric extended care facilities, nursing homes, intermediate care facil- ities, rural health centers, psychiatric rehabilitation treatment centers, psychiatric hospitals, tanning parlors, hearing aid fitters, end stage renal disease Hits: 7 |
Newsstand_2018_December.pdfmillion. The IFO will release an updated impact fee forecast for CY 2018 (remitted April 2019) in late January 2019. Home Price Growth Slows in 2018 Q3 On November 27, the Federal Housing Finance Agency (FHFA) released purchase-only index data for 2018 Q3. For Pennsylvania, seasonally adjusted data show that third quarter home prices grew by 1.8% on a quarterly annualized basis. Pennsylvania home price growth has slowed significantly since earlier in Hits: 7 |
MER-2015-03.pdfrate of retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year‐over‐year growth rate in the number of residential homes sold based on latest three months of data. 4 Consumer Sentiment Index A diffusion index that re Ðlects consumer optimism Hits: 7 |
IFO_Retirement_Task_Force_Jan2018_Presentation.pdfage 70 vs. age 71. More working during “normal” retirement years. Dramatic shift in spending towards housing. More home debt. 2 Jan.25.2018 Independent Fiscal Office Recent Demographics: 2010 to 2017 PA Residents (000s) Change (000s) Age Group Real Housing Debt Doubles Jan.25.2018 Independent Fiscal Office 13 Cumulative Growth: 2003 to 2015 Composition of Debt Total Home All 2003 2015 Age Debt Mortgage Other Home Other Home Other 25 -6% -52% 42% 52% 48% 27% 73% 35 Hits: 7 |
Five_Year_Outlook_Presentation_2021.pdfwk ends $300/wkends Source: U.S. Bureau of Labor Statistics. CTC starts Labor Force Contraction Federal programs Childcare Eldercare Home schooling COVID concerns Savings cushion Lifestyle change Early retirements Labor Force = Employed + Unemployed Who Stopped Working? Not Just the Elderly preliminary. Excludes self-employed. Source: U.S. Bureau of Labor Statistics, State and Metro Area Employment. Subsector Detail: Staying at Home Drives Jobs Change November 15, 2021 10 Number (000s) 2-Year Change Sept 2019 Sept 2021 Number Percent Full-Service Hits: 7 |
2007_divestment_complete_report.pdfobstruction, in an attempt to inflict the most 28 devastating harm on those individuals displaced from their 29 villages and homes without any means of sustenance or 30 shelter." - 52 - 1 (6) On September 25, 2006, Congress reaffirmed that "the 2 allies since the Darfur crisis began in 2003, more 12 than 2,000,000 people have been displaced from their homes, 13 and more than 250,000 people from Darfur remain in refugee 14 camps in Chad." 15 (8) The Darfur Hits: 7 |
MTR-2017-05.pdfdecline in mortgage debt. Second, the PA labor market could be weak, generating few jobs and minor gains in take home pay. However, data for January to April 2017 suggest a strong labor market that created 63,000 net new jobs (annualized rate), compared to 52,200 for CY 2016. Moreover, withholding tax revenues show solid growth in take home pay, growing roughly 3.5% for the first three quarters of FY 2016-17. Third, consumers could be impacted by Hits: 6 |
MTR-2017-04.pdfurban areas, southern or coastal states, whereas those with a high school diploma are more likely to remain close to home. The graph confirms this trend, as the top five states where PA graduates migrated (California, New York, North Carolina, New contain large urban areas or are situated on a coast. The outflow could also be attributable to graduates moving back home after college. The U.S. Census Bureau reported last week that one-third of people aged 18-34 live at Hits: 6 |
Monthly_Economic_Update_December_2021.pdfthe past year. Rows 9 and 10 display growth for the S&P 500 and the median price of existing home sales for the Philadelphia metro region. Due to the build up of savings and significant expansion of the money supply 2% 138.9% 9 S&P 500 Index Oct 3,015 3,328 4,461 10.4% 34.0% 10 Home Price - Philly ($000s) Q3 $256.2 $286.8 $324.8 11.9% 13.2% Notes: Home price is median sales Hits: 6 |
MER-2015-06.pdfrate of retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year-over-year growth rate in the number of residential homes sold based on latest three months of data. 4 Consumer Sentiment Index A diffusion index that reflects consumer optimism. A Hits: 6 |
MER-2015-04.pdfrate of retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year‐over‐year growth rate in the number of residential homes sold based on latest three months of data. 4 Consumer Sentiment Index A diffusion index that re Ðlects consumer optimism Hits: 6 |
MER-2015-02.pdfrate of retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year‐over‐year growth rate in the number of residential homes sold based on latest three months of data. 4 Consumer Sentiment Index A diffusion index that re Ðlects consumer optimism Hits: 6 |
MER-2015-01.pdfrate of retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year-over-year growth rate in the number of residential homes sold based on latest three months of data. 4 Consumer Sentiment Index A diffusion index that reflects consumer optimism. A Hits: 6 |
MER-2014-12.pdfrate of retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year‐over‐year growth rate in the number of residential homes sold based on latest three months of data. 4 Consumer Sentiment Index A diffusion index that re Ðlects consumer optimism Hits: 6 |
MER-2014-02.pdfrate of retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year‐over‐year growth rate in the number of residential homes sold based on latest three months of data. 4 Consumer Sentiment Index A diffusion index that re Ðlects consumer optimism Hits: 6 |
EPLC_April_2024.pdfEducation Policy & Leadership Center Slide 7 • Wages and Salaries 2024.1 estimated based on personal income tax withholding collections • RedFin Home Sales 2024.1 is based on Jan. and Feb. data • Change Payroll Jobs and All Jobs 2024.1 are based 6.0% 4.7% Philadelphia CPI-U 6.9% 3.9% 3.9% 3.7% 3.4% Housing Market FHFA Home Value Index 5.1% 5.3% 7.9% 6.9% -- RedFin Home Sales -21.6% -18.8% -18.1% -5 Hits: 6 |
Economic_Forecast_Business_Leadership_Summit_Feb_2024.pdfStarts… Jobs and Workers 1.1 million worker contraction April 2020; UE Rate goes to 16.2% Inflation Inflated assets: homes and stocks Real Earnings Feb 2024 Economic Summit Slide 6 Was there a permanent exodus from Labor Force? (No.) Most winners and losers How about wage earners? Clear winners: homeowners, especially refinancers What industries added jobs over last 4 years? Home Price Inflation + Low Interest Rates All Jobs Now Recovered, Thank You Boomers… Slide 7 Feb 2024 Economic Summit Payroll Jobs Hits: 6 |
2013_special_report_funding_and_reforming_public_employee_retirement_systems.pdfcourts allow changes to the benefits of existing employees. The unfunded liability represents a long-term debt, not unlike a home mortgage, that must be paid-off, or amortized, over time through installment payments. However, unlike a home mortgage, the unfunded liability is not a fixed dollar amount. Instead, the liability varies in response to plan experience. Favorable Hits: 6 |
Revenue_Estimate_Presentation_2022_05.pdfMinimal real growth | continued strong inflation ▪ Real wages eroded in near term | hiring slows but still positive ▪ Stock market and home sales (not prices) continue to contract May 23, 2022 2 Pennsylvania Economic Forecast May 23, 2022 3 Annual Growth Rate 2% 0.7% 67.9% 30-Yr Mortgage (rate) 3.0 3.0 3.1 4.7 5.3 -- PA Home Price Index 16.5 14.8 13.4 14.5 -- 35.3 Rent – Philadelphia 4.0 7.8 10.8 Hits: 5 |
Revenue-Estimate-2020-05-Presentation.pdf7% 3.5% 4.3% 3.7% Net New Jobs (000s) 53.1 54.7 48.2 51.4 FHFA Home Price Index 4.9% 4.8% 5.3% n.a. Zillow Home Sales (nsa) -1.4% -0.1% 1.5% 6.3% Per Capita Consumer Debt 4.3% 3.5% 3.7% Hits: 5 |
Revenue-Estimate-2019-05.pdf10.4 9.7 All Other Social Assistance -0.9 2.0 3.3 3.5 2.1 Home Healthcare 3.6 4.2 4.8 4.5 5.9 Other Ambulatory Care 4.5 2.0 4.7 4.1 an uptick in gasoline prices and most analysts expect that trend to continue through the summer. The home price index measures the value of existing homes, and home values continue to display solid growth. Taxable retail sales (excludes the Hits: 5 |
Response_Letter_2021_April.pdfolder, (2) additional Lottery-funded programs administered by the Departments of Aging, Revenue and Transportation and (3) funding for Veterans Homes in the Department of Military and Veterans Affairs. The cost estimates are broken out by type of funding (state, federal Includes General Fund and TSF funding for MA - Long-Term Care, MA - Community HealthChoices, MA - Capitation, MA - Fee-for-Service, Home and Community-Based Services, Long-Term Care Managed Care and Payment to Federal Government - Medicare Drug Program appropriations. 5 Includes Hits: 5 |
Presentation_2016-05-12_PaDUC_Impact_of_Demographics.pdflife spans? Generation X or Baby Bust: Born 1965 to 1984. • Unusual exits from labor force. • Changing attitude towards home ownership and mortgage debt? Generation Y or Millennials: Born 1985 to 2004. • Wave of college‐age students: more student loan debt. • Does debt cause delays in home purchases, marriage and child bearing, thereby restraining growth? 7 Three Demographic Waves 12.May.2016 2015 Snapshot by Generation thousands Hits: 5 |
PBB_Board_Hearing_Jan_25_2022.pdfmay have contributed to increase in self-neglect cases (from 38% to 48%) Share of older adults residing in nursing homes declined in recent years ▪ Share of residents age 75+ living in nursing homes declined from 5.4% June 2017 to 5.1% in June 2019 and to 4.3% in June 2020 (latest Hits: 5 |
PBB_2023_EO_REPORT.pdfDependent Care Account Program (DCAP); charitable giving through the State Employee Combined Appeal; long-term disability insurance; and voluntary life, home and auto insurance. The Bureau of Benefits oversees the administration of these benefits including billings for active and retired employee positions include non-telework, part-time telework and ad hoc telework positions. Remote positions include full-time telework positions and home-headquartered positions. ▪ Other paid time off (PTO) includes all types of paid leave other than sick leave and holidays, including Hits: 5 |
Official-Revenue-Estimate-2020-06-Presentation.pdf7% 3.5% 4.3% 3.7% Net New Jobs (000s) 53.1 54.7 48.2 51.4 FHFA Home Price Index 4.9% 4.8% 5.3% n.a. Zillow Home Sales (nsa) -1.4% -0.1% 1.5% 6.3% Per Capita Consumer Debt 4.3% 3.5% 3.7% Hits: 5 |
Official-Revenue-Estimate-2019-06.pdf10.4 9.7 All Other Social Assistance -0.9 2.0 3.3 3.5 2.1 Home Healthcare 3.6 4.2 4.8 4.5 5.9 Other Ambulatory Care 4.5 2.0 4.7 4.1 an uptick in gasoline prices and most analysts expect that trend to continue through the summer. The home price index measures the value of existing homes, and home values continue to display solid growth. The growth of taxable retail Hits: 5 |
NewsStand_2019_July.pdfJuly 2019 | | www.ifo.state.pa.us Pennsylvania News National News IFO NEWS STAND Nursing Home Costs Outpacing Medical and Consumer Inflation On June 25, Bloomberg featured the results of a six-year study on nursing home prices by Georgetown Univer- sity Medical Center. It found that nursing home prices between 2005 and 2010 generally increased much Hits: 5 |
MTR-2017-06.pdfthe 2015 employment gain for that sector. The majority of the increase for these two years (73%) was attributable to home health care services and services for the elderly and disabled, which have expanded under the Affordable Care Act. In contrast 788 and $80,463, respectively. In contrast, the average annual wage for the health care sector was $48,121, with home health care services ($36,789) and services for the elderly and disabled ($21,479) being somewhat lower than the average Hits: 5 |
MTR-2016-05.pdfand have been particularly strong through April 2016 (9.2% annual growth). One of the larger retailers in this sector, Home Depot Inc., reported that customers spent $60 per trip this year, which is the highest level since the first quarter sales data suggest that consumers are more likely to shop online, spend money on dining out and invest in their homes rather than shop at traditional stores. The decline in gasoline prices may have further bolstered spending in some of these Hits: 5 |
Monthly_Economic_Update_July_2023.pdfto rent a primary residence. Owner’s Equivalent Rent (OER) (30.6%) For homeowners, the rental income foregone if the home had been rented. By far, the single largest CPI-U component. Excludes maintenance and property taxes. Food At Home (7.6%) Groceries purchased for off-premise consumption. Excludes dining out. Compared to the prior year, inflation for this component Hits: 5 |
Monthly_Economic_Update_August_2023.pdf9% over the prior month. Owner’s Equivalent Rent (OER) (30.6%) For homeowners, the rental income foregone if the home had been rented. By far, the single largest CPI-U component. Excludes maintenance and property taxes. For July 2023, the OER component increased 7.9% from a year ago and 1.0% compared to June 2023. Food At Home (7.6%) Groceries purchased for off-premise consumption. Excludes dining out. Grocery prices rose 4.2% compared to July 2022 Hits: 5 |
MER-2014-10.pdfrate of retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year‐over‐year growth rate in the number of residential homes sold based on latest three months of data. 4 Consumer Sentiment Index A diffusion index that re Ðlects consumer optimism Hits: 5 |
MER-2014-09.pdfrate of retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year‐over‐year growth rate in the number of residential homes sold based on latest three months of data. 4 Consumer Sentiment Index A diffusion index that re Ðlects consumer optimism Hits: 5 |
MER-2014-08.pdfrate of retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year‐over‐year growth rate in the number of residential homes sold based on latest three months of data. 4 Consumer Sentiment Index A diffusion index that re Ðlects consumer optimism Hits: 5 |
MER-2014-07.pdfrate of retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year‐over‐year growth rate in the number of residential homes sold based on latest three months of data. 4 Consumer Sentiment Index A diffusion index that re Ðlects consumer optimism Hits: 5 |
MER-2014-06.pdfrate of retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year‐over‐year growth rate in the number of residential homes sold based on latest three months of data. 4 Consumer Sentiment Index A diffusion index that re Ðlects consumer optimism Hits: 5 |
MER-2014-05.pdfrate of retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year‐over‐year growth rate in the number of residential homes sold based on latest three months of data. 4 Consumer Sentiment Index A diffusion index that re Ðlects consumer optimism Hits: 5 |
MER-2014-04.pdfrate of retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year‐over‐year growth rate in the number of residential homes sold based on latest three months of data. 4 Consumer Sentiment Index A diffusion index that re Ðlects consumer optimism Hits: 5 |
MER-2014-01.pdfrate of retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year‐over‐year growth rate in the number of residential homes sold based on latest three months of data. 4 Consumer Sentiment Index A diffusion index that re Ðlects consumer optimism Hits: 5 |
MER-2013-12.pdfrate of retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year-over-year growth rate in the number of residential homes sold based on latest three months of data. 4 Consumer Sentiment Index A diffusion index that reflects consumer optimism. A Hits: 5 |
IFO - Economic and Budget Outlook - January 2012.pdfthree 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 Financial Corporation accepted an $11 billion emergency loan from many years to unwind. 5 In the current instance, many homeowners found themselves overleveraged due to the rapid decline in home values coupled with a slumping stock market. To correct this imbalance, excessive debt had to be eliminated through bankruptcy proceedings Hits: 5 |
Economic_and_Revenue_Update_2020_10.pdfsupport a scenario where lost jobs are not recovered including: new consumer spending patterns (e.g., more in-home dining), more online shopping, less travel, greater automation, more teleworking and reduced production capacity due to the elimination of numerous small businesses due to dealer closures), cigarettes (due to processing delays) and realty transfer (due to the inability to show homes). By contrast, the recovery period reveals modest revenue growth driven by strong growth of motor vehicle sales (pent-up demand, aversion to Hits: 5 |
Budget_Hearing_Background_Feb2016.pdfMoreover, growth in student loan debt shows recent signs of slowing. A solid housing market. Data suggest that existing home sales increased by 10 to 12 percent in 2015. Due to these solid fundamentals, the forecast does not anticipate that and U.S. Bureau of Labor Statistics. Forecasts by IFO. (2) Pennsylvania Consumers Auto loan debt continues to expand rapidly. Home mortgage debt (includes home equity loans) is flat. Pennsylvania student loan debt growth decelerates to 2.9%. The ratio of Hits: 5 |
BEFC_Survey_Results_FINAL.pdfsupport - Schoolwide Title I - Cultural navigation, professional development - MTSS - ELD assistants and parent workshops - ED Backpack Prog. (food sent home over weekend) - Interpreting services - Student Assistance Program - Individualized English Language Learner plans - EL Summer School Program - Cares closet - Extended School Year Initiatives, - Certified Instructional Support teacher to provide Stem & Vine ASP Tier II support - Hired 3 social workers - Translation services - HOMES program - Family Services - Utilize SHINE Program in elementary school - Before School Prep - Food Service Assistance - Safety/Security services Other Best Practices Hits: 5 |
2020_Mid_Year_Update.pdfOver-Year Growth July Aug Sept Oct Nov # Refinancing Applications 43.0% 107.0% 88.0% 120.9% 125.2% # Home Sales 2.7% -3.4% 1.4% 0.5% -0.3% Median Home Sales Price 5.8% 6.1% 6.4% 6.9% 7.8% FHFA House Price Index -- 5.1% -- -- 5.1% Hits: 5 |
2013-01 Monthly Economic Report.pdfof retail sales based on lat- est three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year-over-year growth rate in residential home sales based on latest three months of data. 4 Consumer Sentiment Index A diffusion index that reflects consumer optimism. A Hits: 5 |
2012-12 Monthly Economic Summary FINAL.pdfof retail sales based on lat- est three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year-over-year growth rate in residential home sales based on latest three months of data. 4 Consumer Confidence Index A diffusion index that reflects consumer optimism. A Hits: 5 |
Single-Use Plastics Report-2020_06.pdfHeavy-Weight Plastic Bag 2.25 mils thick Introduction | Page 6 Plastic Retail Bag Supply Chain Before carrying home retail goods, the plastic retail bag travels along a number of points in the supply chain. A change to one link in by grocery stores at checkout. Reusable bags include anytype of stitched reusable bag purchased or bags brought from home. Source: Homonoff (2018); Homonoff, et al., (2018) and Taylor and Villas-Boas (2016). % Change in Disposable Bags Used % Change in Consumers Using Hits: 4 |
Response-Letter-2-27-2020.pdfE funding. TANF funding covers assistance to eligible families to enable children to be safely cared for in their own homes. SSBG funding can be used for services to protect children from neglect, abuse and exploitation. For child welfare program purposes for 2027 and beyond. Prevention services newly eligible for federal funding include mental health services, substance abuse services, and in-home parenting skill programs. The Act requires the U.S. HHS to create a Clearinghouse for evidence-based practices. The most Hits: 4 |
RB_2023_1_Post_Pandemic_Gasoline_Consumption.pdfdramatic reduction in gasoline consumption. As those measures were lifted, many employees retained a hybrid or full-time work-from-home schedule. A working paper by the National Bureau of Economic Research estimates that in 2022 (nationally), 20% of full workdays will be supplied from home, compared to 5% before the pandemic. 1 For Pennsylvania, nearly four times the share of workers worked from home in Hits: 4 |
RB_2022_10_Worker_Shortage.pdfshow a total contraction of 85,200 payroll jobs. Three subsectors comprise 73% of the September net jobs contraction: nursing home and residential care (-26,500), employment services (i.e., temp jobs, -19,200) and full-service restaurants (-16,600). Other high to discourage labor force participation. Potential factors that could motivate labor force contraction include: long-term demographic trends, increased home schooling, care of elderly parents reluctant to enter nursing homes, recent accumulation of savings and wealth due to inflated asset Hits: 4 |
RB-2020-10-Impact_of_TCJA_on_PA_Taxpayers.pdfbusiness income. Repealed itemized deductions except for state and local taxes (SALT) paid (up to $10,000), interest on home mortgage debt below $750,000, charitable contributions and other miscellaneous deductions. 1 Increased the child tax credit from $1 84 percent and the average deduction for taxpayers still electing to itemize fell from $32,290 to $9,570. Home mortgage interest deductions fell by $5.1 billion (-53.4 percent). 2 Recent IRS tax gap studies find that the Hits: 4 |
PBB_2019_JCJC_Report.pdfneighboring states and the na- tional average. This statistic measures the number of juveniles placed out of their homes due to a juvenile disposition (sentencing), per 100,000 juveniles. For 2015 (latest data available), Pennsylvania’s rate was second among border a Percent of Juvenile Dispositions At the county level, the JCJC tracks placements of juveniles outside of the home as a percent of total dispositions (sentences) for each county. Using data provided by the Commission, the figure on the next page Hits: 4 |
NFIB_Feb_2024.pdfPre-Covid Levels Expansion (000s) • Social Assistance* +32 (most is elderly-disabled services) • Warehouse-Storage +23 • Comp System Design +10 • Home Health Care* +9 Contraction (000s) • Nursing Home* -17 • Full Serve Restaurant -13 • Retail Sales -12 Slide 3 Feb 2024 Economic Forum 5,000 5,200 5,400 Hits: 4 |
NewsStand_2019_August.pdfing 60% of total consumer debt, grew 4.8% over the prior year. Over the same period, debt related to home- equity lines of credit fell 3.7% and mortgage delinquencies greater than 90 days fell 11.7%. These trends may signal healthy debt activity as homeowners rely less on the value of their home to access new credit and home- buyers return to the mortgage market after a surge in all-cash home purchases Hits: 4 |
Monthly_Economic_Update_May_2021.pdfactual conditions in the housing market. For example, the latest data from the Federal Housing Finance Agency show that the home price index increased by 12.5% in 2021 Q1 for the Mid- Atlantic region, compared to 1.1% for the enhanced unemployment benefits, which may exceed wages that could be earned through employment and/or (2) children may be at home and require supervision. Currently, Pennsylvania does not require individuals who receive benefits to demonstrate an active job search. Monthly Economic Hits: 4 |
Monthly_Economic_Update_January_2021.pdfpassenger vehicles (-69.6%) and commercial vehicles (-25.3%). Commercial vehicle trips rebounded quickly after the expiration of stay-at-home orders, growing 0.8% in June relative to the prior year. For the remainder of 2020, commercial vehicle traffic on 12.2%), used cars and trucks (+10.1%), personal care services such as haircuts (+6.0%) and food away from home (+5.4%, includes food delivery). In contrast, other types of goods experienced significant price reductions including: car insurance (-10.8% Hits: 4 |
Monthly_Economic_Update_August_2021.pdfprice growth as COVID-19 travel restrictions were relaxed over the summer including: Airline Fares (+19.0%), Lodging Away from Home (+21.5%) and Gasoline (+41.8%). Car and Truck Rental prices grew 73.5% compared to last July. The large 4%). These two categories comprise 31% of the U.S. CPI-U and are discordant with YOY growth in national home prices (+16.6%) based on the May 2021 Case-Shiller Index. Rental prices are “sticky” because the same renters are Hits: 4 |
MER-2013-11.pdfof retail sales based on lat- est three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year-over-year growth rate in residential home sales based on latest three months of data. 4 Consumer Sentiment Index A diffusion index that reflects consumer optimism. A Hits: 4 |
Initial_Estimate_May_2017_Presentation.pdf52.8 61.2 70.4 Philly CPI-U 0.3% 0.4% 0.4% 1.5% 2.1% PA Home Price Index 2.2% 3.1% 3.8% 3.6% n.a. Mid-Atlantic Gasoline -18.0% -15.1% -13 for 2017 Q1 is an estimate by IFO based on withholding tax revenues. Corporate domestic profits exclude the Federal Reserve. Home price index represents increase in average market value of existing homes. Sources: U.S. Bureau of Economic Analysis, U.S Hits: 4 |
IFO_Hearing_Packet_Feb2018.pdf10-Year Note (level) 2.54 2.14 1.84 2.33 3.00 n.a. n.a. n.a. Home Price Index 5.2% 5.5% 6.1% 5.8% 4.9% 7.9% -3.1% 5.8% Note: AAGR Gasoline -2.7% -28.4% -10.4% 18.0% 4.8% 10.0% 5.5% -4.8% Wealth/Debt Metrics Home Price Index 2.3% 2.5% 4.1% 4.4% 4.0% 4.6% 4.7% 3.4% All Consumer Hits: 4 |
Budget Hearings Packet.pdfS. Bureau of Labor Statistics. Forecasts by IFO. The Pennsylvania Economy (5) Pennsylvania Consumer Debt and Spending For 2016: auto, home equity (HELOC) and student loan debt show strong growth; home mortgage debt contracts. Decline in mortgage debt may be due to (1) an aging population and (2) lack of first- Hits: 4 |
Budget Hearings Packet- Web Version.pdfS. Bureau of Labor Statistics. Forecasts by IFO. The Pennsylvania Economy (5) Pennsylvania Consumer Debt and Spending For 2016: auto, home equity (HELOC) and student loan debt show strong growth; home mortgage debt contracts. Decline in mortgage debt may be due to (1) an aging population and (2) lack of first- Hits: 4 |
2013-10 Monthly Economic Summary.pdfof retail sales based on lat- est three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year-over-year growth rate in residential home sales based on latest three months of data. 4 Consumer Sentiment Index A diffusion index that reflects consumer optimism. A Hits: 4 |
2013-09 Monthly Economic Summary-FINAL.pdfof retail sales based on lat- est three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year-over-year growth rate in residential home sales based on latest three months of data. 4 Consumer Sentiment Index A diffusion index that reflects consumer optimism. A Hits: 4 |
2013-08 Monthly Economic Summary.pdfof retail sales based on lat- est three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year-over-year growth rate in residential home sales based on latest three months of data. 4 Consumer Sentiment Index A diffusion index that reflects consumer optimism. A Hits: 4 |
2013-07 Monthly Economic Summary.pdfof retail sales based on lat- est three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year-over-year growth rate in residential home sales based on latest three months of data. 4 Consumer Sentiment Index A diffusion index that reflects consumer optimism. A Hits: 4 |
2013-06 Monthly Economic Summary - FINAL.pdfof retail sales based on lat- est three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year-over-year growth rate in residential home sales based on latest three months of data. 4 Consumer Sentiment Index A diffusion index that reflects consumer optimism. A Hits: 4 |
2013-05_Monthly_Economic_Summary.pdfof retail sales based on lat- est three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year-over-year growth rate in residential home sales based on latest three months of data. 4 Consumer Sentiment Index A diffusion index that reflects consumer optimism. A Hits: 4 |
2013-04 Monthly Economic Report.pdfof retail sales based on lat- est three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year-over-year growth rate in residential home sales based on latest three months of data. 4 Consumer Sentiment Index A diffusion index that reflects consumer optimism. A Hits: 4 |
2013-03b Monthly Economic Summary.pdfof retail sales based on lat- est three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year-over-year growth rate in residential home sales based on latest three months of data. 4 Consumer Sentiment Index A diffusion index that reflects consumer optimism. A Hits: 4 |
2013-02 Monthly Economic Report.pdfof retail sales based on lat- est three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year-over-year growth rate in residential home sales based on latest three months of data. 4 Consumer Sentiment Index A diffusion index that reflects consumer optimism. A Hits: 4 |
2012-10 Monthly Economic Summary FINAL.pdfof retail sales based on lat- est three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year-over-year growth rate in residential home sales based on latest three months of data. 4 Consumer Confidence Index A diffusion index that reflects consumer optimism. A Hits: 4 |
2012-09 Monthly Economic Summary 7.pdfrate of retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year-over-year growth rate in residential home sales based on latest three months of data. 4 Consumer Confidence Index A diffusion index that reflects consumer optimism. A Hits: 4 |
2012-08 Monthly Economic Summary_Final.pdfrate of retail sales based on latest three months of data. Includes purchases of gas and motor vehicles. 3 Residential Home Sales Year-over-year growth rate in residential home sales based on latest three months of data. 4 Consumer Confidence Index A diffusion index that reflects consumer optimism. A Hits: 4 |
2012-07 Monthly Economic Summary10.pdfthree months of data. Includes purchases of gas and motor vehicles. Data are from the US Department of Commerce. Residential Home Sales Year-over-year growth rate in residential home sales based on latest three months of data. Data are from National Association of Realtors. Consumer Confidence Index A diffusion Hits: 4 |
TC_2020_Mobile Telecommunications Broadband Investment Tax Credit.pdfmobile broadband technology that transmits signals via radio waves can often provide the desired high-speed service to homes and businesses at a reduced cost. A recent study by the Technology Policy Institute reviewed other state and national broadband incentive programs to 50% of capital construction costs, not to exceed $3 million/local jurisdiction, 100% match required Unserved, Rural Homes and Businesses Michigan G Up to 90% of project costs, $5 million max/project, 10% match required Unserved Areas Minnesota G Up Hits: 3 |
State and Local Tax Burden Study.pdffor property tax. Pennsylvania relies on SUT relatively less due to exclusions for clothing and food purchased for home consumption. Moreover, many states levy sales tax on gasoline in addition to an excise tax; Pennsylvania does not. For property tax, home values might drive much of the relative rankings. More developed states tend to have higher home values that yield more property tax Hits: 3 |
Select Committee Oct 1 2012 FINAL.pdflaw” property tax baseline for schools? 3. Potential economic impacts. 1. Business and non-business. 2. Homeowners and renters. 3. Home prices and rent payments. 4. Business competitiveness. 1.Oct.2012 Analysis of HB 1776 and SB 1400 of 2012 – Slide g., pain relievers, vitamins) Personal hygiene (toiletries, diapers) Newly taxed services: Certain health care (for-profit nursing homes, day care) Recreation (movies, bowling, amusement parks) Basic cable Personal (barber, beauty salons) Intrastate transport of Hits: 3 |
Roundtable_Jan_24_2023.pdfrates do not recover from COVID decline Economics ▪ Forecast assumes reversion to “normal” economic growth Revenues ▪ Inflation boosts stock and home values | business profits far above historical levels Expenditures ▪ All FY 22-23 funding increases assumed permanent (e.g., education) ▪ Federal Aug Oct Dec-20 Feb Apr Jun Aug Oct Dec-21 Feb Apr Jun Aug Oct Dec-22 food at home (8%) all items durables (11% of CPI) annual growth Philadelphia CPI-U Pennsylvania Payroll Employment: Change from Nov 2019 January Hits: 3 |
Revenue_and_Economic_Update_Presentation_2020_10.pdfhow much withdrawn under program Shifting consumer spending patterns Less out of state travel | gasoline consumption down ~10% Home improvement, cars, appliances and computers all taxable October 29, 2020 7 Mitigation vs. Recovery Period: Revenue Growth Rates October 29 month. LWA payments Factors That Motivate Upward Revenue Revision Sales and use tax much stronger than expected Federal UC | home improvement | limited travel | tap home equity Lost car sales in April and May (dealers closed) have been recouped Corporate Hits: 3 |
Presentation_PBC_6-12-14.pdf Generation X or Baby Bust: Born 1965 to 1984 o Unusual exits from labor force. o Changing attitude towards home ownership and mortgage debt? Generation Y or Millennials: Born 1985 to 2004 o Wave of college-age students: more student loan debt. o Does debt cause delays in home purchases, marriage and child bearing, thereby restraining growth? 12.June.2014 5 Three Demographic Waves 12.June.2014 6 PA Hits: 3 |
Presentation_Lancaster_Chamber_2017-07-14.pdfincome. Generation X or Baby Bust: Born 1965 to 1984. Unusual exits from labor force. Changing attitude towards home ownership and mortgage debt? Generation Y or Millennials: Born 1985 to 2004. Wave of college-age students: more student loan debt. Does debt restrain growth by delaying home purchases, marriage and child bearing? 2015 Pennsylvania Population Distribution 7/14/2017 8 0 200 400 600 800 1,000 Hits: 3 |
PICPA_Presentation.pdf61.2 68.9 n.a. Philly CPI-U 0.4% 0.4% 1.5% 2.1% 1.1% PA Home Price Index 3.0% 3.8% 3.7% 3.6% n.a. Mid-Atlantic Gasoline -15.1% -13.0% 6 Q1 and Q2 is an estimate by IFO based on withholding tax revenues. Corporate domestic profits exclude the Federal Reserve. Home price index represents increase in average market value of existing homes. Sources: U.S. Bureau of Economic Analysis, U.S Hits: 3 |
PBB_Board_Hearing_Apr_27_2021.pdfsub-state level for performance measures ▪ Breakdown by county, region or institution highlights factors that drive statewide results ▪ DMVA veterans homes - overall quality ratings range from 2 to 5 (vs. 3.1 average for all PA nursing homes) Policymakers can monitor outcomes related to additional resources for new or existing programs ▪ PennDOT REAL ID program ▪ DMVA Keystone State Hits: 3 |
PBB_2022_PDE_REPORT_Amended.pdfdistricts include TANF cases, census poor, Medicaid, children living in institutions due to neglect or delinquency, those supported in foster homes or eligible for free/reduced price lunch. 5 Performance data reflects percent of students scoring proficient or advanced on SY age child count rather than the preschool child count. Children can also receive special education and re- lated services at home or another location not included in any other category. In SY 2019-20, Pennsylvania had the second highest number of Hits: 3 |
PBB_2020_DCED_REPORT.pdfand businesses. Achievement of these goals should improve the quality of life for local residents and facilitate stable home values and employment opportunities. Resources 14-15 Actual 15-16 Actual 16-17 Actual 17-18 Actual 18-19 Actual 19-20 100 103 # Persons/families supported 383,185 577,876 600,446 470,276 427,292 450,000 Output # Homes weatherized 1,412 880 3,485 3,589 1,725 1,845 # Substandard housing units demolished 37 82 40 28 104 110 Hits: 3 |
PA_Chamber_June_17_2021.pdfNote: EIP is economic impact payment. 2021 Q2 data for S&P 500 as of June 11 2021. 2021 Q2 home price index is an estimate based on median increase in April home sales price. Growth rates at far right are cumulative growth rates since 2019 Q2. 2019.2 = 1.0 S&P Hits: 3 |
Official_Revenue_Estimate_Methodology_2023_06.pdfhousing market. The forecast is based on IHS Markit and the National Association of Realtors projections of U.S. existing home sales and U.S. existing home prices. Although the model does not directly incorporate an economic variable to represent the business portion of the tax base Hits: 3 |
Official_Revenue_Estimate_Methodology_2022.pdfthe residential housing market. The tax base is grown by the National Association of Realtors forecast of U.S. existing home sales and U.S. existing home prices. Although the model does not directly incorporate an economic variable to represent the business portion of the tax base Hits: 3 |
Official-Revenue-Estimate-Methodology-2020-6.pdfthe residential tax base as the independ- ent variable. The residential tax base is equal to Pennsylvania existing home sales multiplied by the Penn- sylvania median existing home sales price. The regression uses data from 2011Q1 through 2020Q2. Al- though the model does not directly incorporate an economic variable to Hits: 3 |
Official-Revenue-Estimate-Methodology-2019-06.pdfthe residential tax base as the independ- ent variable. The residential tax base is equal to Pennsylvania existing home sales multiplied by the Penn- sylvania median existing home sales price. The regression uses data from 2011Q1 through 2019Q2. Alt- hough the model does not directly incorporate an economic variable to Hits: 3 |
novak ppt.pdf200 250 300 3.5 4.5 5.5 6.5 7.5 2001 2003 2005 2007 2009 2011 Existing Home Sales 30YR Fixed Rate Interest rate 1000s Housing • Weakness in home purchases – Home building activity and employment will suffer • Weakness in refinancing – Spending will likely remain under negative pressure Unemployment Rates Hits: 3 |
NewsStand_2019_June.pdf(717) 230-8293 | | www.ifo.state.pa.us Pennsylvania News Existing Home Prices Increase by 5.0% in 2019 Q1 On May 28, the Federal Housing Finance Authority (FHFA) released the housing increased by 5.0% on a year-over- year basis. Nearly all states bordering Pennsylvania saw smaller increases in existing home prices: New York (4.7%), New Jersey (3.1%), Delaware (0.8%) and Maryland (0.6%). West Virginia was the Hits: 3 |
Newsstand_2018_April.pdfThe CBO also revised its projection for real GDP to reflect recent changes in federal tax policy. (Full Report) Rising Home Prices Push Borrowers Deeper Into Debt Roughly one out of five new mortgages this winter were given to Americans who mortgages originated with a debt-to-income ratio of 45 percent or greater is three times higher than in 2016. Home affordability is a major driver of this trend, as home prices are increasing faster than wages and mortgage interest rates Hits: 3 |
MTR-2016-09.pdfspread to commodities such as groceries. Through August, the CPI-U data show that general grocery prices (called “food at home”) have declined in the U.S. (-0.9%) and Philadelphia (-1.2%) on a year-over-year basis. The latest Personal Income 9 4.2% 3.9% 3.6% 3.2% 3.4% 3.5% 3.3% 3.7% Completed Home Sales 10 8.3% 2.0% 5.7% 4.0% 13.4% 7.1% 11.2% 9.9% FHFA House Hits: 3 |
MTR-2015-09.pdfrelocations of college-age students. Therefore, the net outflow from Pennsylvania was not due to college students returning to their home states. The IRS data show that the 25 and younger age group accounted for 2,661 net migrants from the Electricity Sales 13 -1.4% -1.3% -0.5% -0.7% -0.6% -1.2% -1.8% -1.1% Completed Home Sales 10 -3.8% 2.9% 6.9% 8.2% 0.4% 7.7% 12.7% 10.8% Monthly Economic Hits: 3 |
Monthly_Economic_Update_Nov_2023.pdfconsumer debt, and these categories have been relatively stable due primarily to (1) a slow housing market coupled with surging home prices (mortgages) and (2) the suspension of interest accrual during the COVID-19 pandemic federal moratorium (student loans). These data 3.7% 3.5% Natural Gas Price 5 $1.33 $1.47 $1.16 $1.31 $1.24 Number of Home Sales 6 -16.4% -20.3% -16.2% -17.9% -9.8% SUT 3-Month Average 7 1.5% 1 Hits: 3 |
Monthly_Economic_Update_June_2020.pdfsalaries (-8.5%) for the month. Personal consumption fell 16.9% in April as states continued to implement stay-at-home measures to help contain the spread of the COVID-19 virus. Consumers Spent Roughly Half of Federal Economic Impact Payments 0.1% n.a. n.a. Natural Gas Price 5 $1.60 $1.37 $1.43 $1.31 $1.40 Home Sales 6 9.7% n.a. n.a. n.a. n.a. Quarterly Data 2019.1 2019.2 2019.3 Hits: 3 |
Monthly_Economic_Update_January_2022.pdf5.5% of CPI, up +3.6%), imputed rent for homeowners (26.3%, up +4.1%) and lodging away from home (1.3%, up roughly +12.0%). The CPI Less Shelter series grew +7.7% in December and is the best 6.1% 6.6% Natural Gas Price 5 $3.57 $4.17 $4.47 $4.50 $3.12 Number of Home Sales 6 -1.4% 5.5% -1.3% 0.0% n.a. PA Turnpike Traffic (cars) 7 18.1% 16 Hits: 3 |
Monthly_Economic_Update_December_2020.pdf3.1% of national refinance applications. That share implies an estimate of $1.2 billion (3.1% * $37 billion) of home equity withdrawn in 2020 Q3 by Pennsylvania homeowners. Business Travel Could Permanently Decline 19% to 36% A recent WSJ article 0.8% n.a. n.a. Natural Gas Price 5 $1.22 $1.17 $1.07 $0.98 $2.37 Home Sales 6 13.8% 16.2% 4.7% n.a. n.a. Quarterly Data 2019.3 2019.4 2020.1 Hits: 3 |
Monthly_Economic_Update_April_2020.pdfservices (-1.9%) categories recorded the largest declines. Despite the suspension of restaurant dine-in service, the food away from home category increased 0.2%. U.S. oil prices were also impacted by the pandemic and business closures; prices recorded an 2.6% n.a. n.a. Natural Gas Price 5 $1.81 $1.65 $1.60 $1.37 $1.26 Home Sales 6 8.7% 10.6% n.a. n.a. n.a. Quarterly Data 2019.1 2019.2 2019.3 Hits: 3 |
IFO_Hearing_Materials_Feb_22_2022.pdf9% 8 Credit Card Debt -8.2% -8.9% -11.6% -14.3% -6.2% -2.8% 3.1% 9 Home Mortgage Debt 2.1% 0.2% 2.4% 4.5% 4.2% 6.3% 6.4% 10 U.S. Corporate S&P 500 Index 0.3% 11.9% 12.7% 26.9% 42.8% 32.4% 30.1% 12 PA Home Price Index 4.6% 8.4% 11.2% 12.4% 16.6% 14.7% Feb 22 Pennsylvania Economics Notes: All Hits: 3 |
IFO-Presentation-11-14-2019.pdfprelim) Net job gains down notably from last year (very prelim) Other state fundamentals remain in good shape Home sales sluggish, but solid price gains Consumer debt picks up in first half of 2019 (+4.3%) November 14 rate) 65.0 56.7 45.4 49.5 37.2 Monthly Data May June July Aug Sept Zillow PA Home Sales 2.1% -7.7% 2.1% -3.5% --- Zillow PA Median Price 4.9% 5.8% 6.7% 6 Hits: 3 |
Five_Year_Outlook_2020_Presentation_Final.pdf63 54 -9 -14.4% Air Transportation 13 8 -6 -41.8% Courier and Messengers 42 49 7 16.5% Home Health Care 69 72 3 3.8% Real Estate 45 48 3 5.6% Source: U.S. Bureau of Labor Economic Negatives Economic Positives Payroll Jobs -460k 2020 Q4 Cash Income +8.3% CY 2020 Labor Force -260k 2020 Q4 Home Values +8.0% 2020 Q3 Small Bus Revenue -28% 2020 Q4 Sales Tax +6.9% 2020 Q3-Q4 Credit Card Hits: 3 |
ACN_SB1071_A10803_text.pdfno later than 30 days thereafter cause an application for membership or participation, which application shall include the employee's home address, birthdate certified by the employer, previous school or State service and any other information requested by the board, and no later than 30 days thereafter cause an application for membership or participation which application shall include the employee's home address, birthdate certified by the employer, previous school or State service and any other information requested by the board, and Hits: 3 |
Witgert Nov 15, 2012.pdfHow will the market respond? EHB EHB EHB More ACA implementation coming… • Delivery system reforms – Value based purchasing demonstrations – Medical homes – Health homes – ACOs – Team care – Quality reporting 18 State Implementation Priorities 1. Be strategic with the insurance exchange 2. Regulate the commercial Hits: 2 |
Testimony-02-2020.pdf9% 4.3% 4.0% -- Per Capita Consumer Debt 1.5% 3.0% 0.6% 1.8% 3.7% -- Existing Home Values 2.6% 3.8% 4.5% 5.4% 5.2% -- Year-Over Year Growth Rate or Change QUARTERLY DATA 9% 4.3% Per Capita Consumer Debt 1.8% 1.8% 0.5% 4.3% 3.5% 3.7% Existing Home Values 4.9% 5.5% 5.6% 5.1% 5.1% -- Note: Real GDP, Payroll Jobs and Wages-Salaries data Hits: 2 |
Revenue_Proposal_Analysis_2024_03.pdfit is likely that reported wage and tip income would increase with a commensurate decline in the workers’ overall take-home pay since they will remit tax on previously unre- ported tip income. However, if tipped workers do not have sufficient unreported tips to cover the difference between their current wages plus tips and $15 per hour, their overall take-home pay will likely increase as employers must make up the difference. Full-time Part-time Total Full-time Part-time Hits: 2 |
Revenue_Proposal_Analysis_2023_05.pdfis likely that reported wage and tip income would increase with a potential decline in the worker’s overall take-home pay since they will remit tax on previously unreported tip income. However, if a tipped worker does not have enough unreported tips to cover the difference between their current wages plus tips and $15 per hour, their overall take-home pay will likely increase as employers must make up the difference. Full-time Part-time Total Full-time Part-time Hits: 2 |
Revenue_Estimate_Performance_2023_08.pdfestimate, resulting in an upward revision of $220 million to the official forecast. COVID- 19 business closures and stay-at-home orders began in March, yielding a dramatic reduction to the General Fund forecast in the May update. This abrupt change revenue models as the impact of federal programs have largely ended and other long- term impacts (e.g., much higher home values) are now fully reflected in the economic data and are likely to revert to growth rates that are consistent Hits: 2 |
Revenue-Estimate-2019-05-Presentation.pdf6% 1.7% 1.3% 1.5% Mid-Atlantic Gasoline 13.7% 22.8% 7.7% -5.3% -0.8% Home Price Index 6.2% 5.4% 4.6% 5.0% n.a. Zillow Home Sales 0.9% 6.1% 7.2% -0.4% -1.5% Note: All growth rates are year-over-year except Hits: 2 |
RB_2024_04_Job_Change.pdfservices (10,000, +3.5%) include offices of physicians, dentists, other health practitioners, outpatient care centers and medical/diagnostic labs. Home health care services recorded the largest relative increase (+7.2%) and expanded by 5,300 payroll jobs. Hospitals, which include 3.3% Elderly, Disabled, Family 14.8 7.2% Healthcare 34.1 4.3% Ambulatory Healthcare 10.0 3.5% Home Health Care 5.3 7.2% Hospitals 7.8 2.9% Nursing and Residential 11.1 6.3% 2024 PA Hits: 2 |
RB_2020_12_PPP_Loans_to_PA_Businesses.pdfto 2.5 times the firm’s average monthly payroll costs or $10 million, whichever is lower. 4 See https://home.treasury.gov/policy-issues/cares-act/assistance-for-small-businesses/sba-paycheck-protection- program-loan-level-data. PPP Loans to www.grassley.senate.gov/news/news-releases/grassley-wyden-treasury-misses-mark-ppp-loan- expense-deductibility-guidance. 12 See https://home.treasury.gov/news/press-releases/sm1187. 13 See https://www.journalofaccountancy.com/news/2020/nov/ppp-loan-forgiveness-irs-safe- Hits: 2 |
RB-2016-02.pdfthe Unconven‐ tional Gas Well Fund and is administered by the Pennsyl‐ vania Housing Finance Agency (non‐pro Ðit). Keystone Home Energy Loan Program $7,225 $0 Offers affordable loans to Ðinance home energy ef Ðiciency projects. The program receives funding from the Treas‐ ury Initiative Support Fund. The program is adminis‐ tered Hits: 2 |
Presentation_PICPA_9-24-2013.pdf24 . Sept . 2013 17 The Bright Spot: Housing Very strong growth in Realty Transfer Tax collections. Reflects gains in number home sold and average price. o Most is quantity impact, not prices. Still far below FY 2006-07 peak: $571 million 500 $600 2002 2004 2006 2008 2010 2012 2014 HPI (right) Realty Transfer (left) Realty Transfer Tax Revenues and PA Home Price Index (HPI) 24 . Sept . 2013 20 Other Tax Revenues 2013 Q3 As expected, Corporate Net Income revenues flat or Hits: 2 |
Presentation_2016-06-08_GPNP_Budget_Outlook.pdf1.8% 1.6% 0.9% Cell Phones 2.4% 2.3% 2.2% 1.9% 1.5% 0.9% Home Furnishings 3.3% 3.2% 3.3% 3.7% 3.7% 2.5% Car Purchase / Repairs 11.2% 10.3% 6% 66.2% 73.1% Housing 39.9% 39.3% 36.1% 36.7% 35.3% 37.3% Food At Home 8.4% 8.7% 8.5% 8.5% 8.4% 8.4% Healthcare 5.5% 6.7% 7.5% 9 Hits: 2 |
Presentation-Initial-Revenue-Estimate-2018-05.pdf0 62.9 62.5 57.0 Philadelphia CPI-U -0.1% 0.6% 1.3% 1.8% 2.2% Home Price Index 2.5% 4.0% 4.6% -- -- Mid-Atlantic Gasoline -29.2% -10.5% 14.8% 8.7% -- Note 4 60.4 71.2 71.3 Philadelphia CPI-U 2.1% 1.0% 1.4% 0.8% 0.5% Home Price Index 4.3% 4.6% 4.5% 4.9% -- Mid-Atlantic Gasoline 25.8% 8.5% 14.2% 12 Hits: 2 |
Presentation-2019-04-House-Financial-Rescue-Caucus.pdf47.2 Philadelphia CPI-U 1.4% 0.8% 0.5% 1.6% 1.7% 1.3% 1.5% FHFA Home Price Index 4.3% 5.5% 6.2% 5.4% 4.6% 5.0% n.a. Growth Rate or Gains 180.3 US CPI-U 2.0% 2.1% 2.2% 2.7% 2.6% 2.2% 1.6% FHFA Home Price Index 6.7% 6.8% 7.4% 6.9% 6.5% 5.7% n.a. Non-Financial Dom Corp Hits: 2 |
Presentation-2018-10-House-Financial-Rescue-Caucus.pdf4 Philadelphia CPI-U (YOY) 2.1% 1.0% 1.4% 0.8% 0.5% 1.6% 1.7% FHFA Home Price Index (YOY) 4.0% 4.6% 4.5% 5.4% 6.1% 4.9% n.a. Growth Rate or 7 US CPI-U (YOY) 2.6% 1.9% 2.0% 2.1% 2.3% 2.6% 2.8% FHFA Home Price Index (YOY) 6.4% 6.7% 6.7% 6.9% 7.3% 6.5% n.a. Non-Financial Dom Hits: 2 |
Presentation-2018-06-PASBO.pdfdetailed data from the American Community Survey Public Use Microdata Sample (PUMS). 35 county groupings. Analyzed the distribution of home values for each grouping. School property tax collections arrayed into deciles assuming collections follow the distribution of home values. Computations for the rebate were based on these distributions. June.05.2018 Rebate Methodology 17 IFO homestead forecast Hits: 2 |
PICPA Presentation_ June 11, 2019.pdf6% 1.7% 1.3% 1.5% Mid-Atlantic Gasoline 13.7% 22.8% 7.7% -5.3% -0.8% Home Price Index 5.9% 5.4% 4.7% 5.3% 5.0% Zillow Home Sales 0.9% 6.1% 7.2% -0.4% -1.5% Note: All growth rates are year-over-year except Hits: 2 |
PBB_Board_Hearing_Sept_28_2021.pdfserved through child welfare, intellectual disabilities and mental health services programs Department of Military and Veterans Affairs ▪ Activity 1 – Veterans Homes: (1) Average costs per resident in private nursing/skilled nursing homes and (2) Average costs per individual for private care in the community September 28, 2021 1 PBB Addendum Requests Pennsylvania Hits: 2 |
PBB_2023_DDAP_REPORT.pdf31 Activity 4: Licensing The Bureau of Program Licensure ensures that all SUD providers operate treatment programs and licensed recovery homes in compliance with PA Code Chapter 28, regulations that address staffing, physical plant, client rights, medication-assisted treatment and hospital 16.6% Office-based positions 2 80 80 88 37 36 36 Full-time telework positions 2 -- -- -- 64 64 37 Home-headquartered positions 2 -- -- -- -- -- 27 Information Technology IT costs ($ thousands) 2,3 $1,876 $1,348 $1,901 $1,498 $2 Hits: 2 |
PBB_2022_PHMC_REPORT.pdfHistoric Sites and Museums (BHSM) operates and preserves 21 historic sites and museums within Pennsylvania. Properties managed range from historic homes and villages to battlefields and indus- trial heritage museums. The commission directly manages 13 of its 21 properties while the 2% 6.0% 6.0% Office-based positions 2 202 202 199 197 188 214 Full-time telework positions 2 Home-headquarter positions Information Technology IT costs ($000s) 2 $328 $275 $1,165 $1,377 $1,480 $1,350 IT cost Hits: 2 |
PBB_2021_PSP_REPORT_ADDENDUM.pdfin 2019. This is despite less traffic on roadways due to COVID- 19 mitigation efforts and more residents working from home rather than commuting. Performance Measures for Traffic Enforcement and Crash Prevention 15-16 16-17 17-18 18-19 19- 16 is CY 2015. Emergency Preparedness and Response | Page 21 large crowds such as parades, festivals and stadiums. Examples include: home football games for the Philadelphia Eagles, Pittsburgh Steelers, or Penn State University, the Scranton St. Patrick’s Day parade or Hits: 2 |
PBB_2020_DOS_REPORT.pdfBoard and Position (continued…) Appendix | Page 34 2014 2015 2016 2017 2018 State Board of Examiners of Nursing Home Administrators Nursing Home Administrator 1,801 1,894 1,724 1,872 1,753 Total 1,801 1,894 1,724 1,872 1,753 Hits: 2 |
PBB_2020_DEP_Report.pdf7% -- Notes: Radiation Protection 2 DEP inspects and certifies radon service firms that install radon mitigation systems in homes and buildings. 1 Authorizations include permits, licenses and certifications. % Population in Zone 1 Rank Pennsylvania 64.7% 10 Top 5 States North radon screening levels greater than 4 picocuries per liter (pCi/L). EPA recommends that residents consider fixing their home for radon levels higher than 2 pCi/L. Source: U.S. Environmental Protection Agency. Waste Management | Page 31 Activity 10: Waste Management Hits: 2 |
PBB_2019_PCCD_Report.pdfthem build competencies so that they will not reoffend. The expected outcomes include a reduction in out-of-home placements, a reduction in recidivism, improved competency develop- ment for court-involved youth and increased public safety. Resources 13-14 14-15 juvenile sen- tencings in a given calendar year. Percent of juvenile placements per disposition. Measures out-of-home placements as a per- cent of total dispositions. Police departments monitored for compliance with the JJDP Act. Measures the number of Hits: 2 |
Official_Revenue_Estimate_Methodology_2021.pdfthe residential housing market. The residential tax base is equal to Pennsylvania quarterly purchase-only index multiplied by Pennsylvania existing home sales. Although the model does not directly incorporate an economic variable to represent the business portion of the tax base per regis- tration depending on truck weight. Exemptions Exemptions from vehicle registration fees include certain farm equipment, golf carts, mobile homes, vehi- cles moved solely by human or animal power and certain construction equipment. Exemptions from com- mercial operator license fees Hits: 2 |
MTR-2017-10.pdfPersonal Income 9 2.6% 1.6% 3.1% 2.9% 2.5% 1.2% 3.1% 2.7% Completed Home Sales 10 0.8% 5.6% 5.0% 1.6% 2.8% 5.2% n.a. n.a. FHFA House PA Association of Realtors. 11. The annual growth rate of an index that measures the average price change of residential homes with mortgages purchased or securitized by Fannie Mae or Freddie Mac. Source: Federal Housing Finance Agency. 12. Per capita levels Hits: 2 |
MTR-2017-09.pdfElectricity Sales 13 -4.9% -4.9% -0.6% 1.4% -0.6% 0.8% -0.5% 2.3% Completed Home Sales 10 0.8% 5.6% 5.0% 1.6% 2.8% 5.2% n.a. n.a. INDEPENDENT FISCAL PA Association of Realtors. 11. The annual growth rate of an index that measures the average price change of residential homes with mortgages purchased or securitized by Fannie Mae or Freddie Mac. Source: Federal Housing Finance Agency. 12. Per capita levels Hits: 2 |
MTR-2017-08.pdfPA Association of Realtors. 11. The annual growth rate of an index that measures the average price change of residential homes with mortgages purchased or securitized by Fannie Mae or Freddie Mac. Source: Federal Housing Finance Agency. 12. Per capita levels Personal Income 9 2.6% 1.6% 3.1% 2.9% 3.3% 2.5% 3.9% n.a. Completed Home Sales 10 0.8% 5.6% 5.0% 1.6% 2.8% 5.2% n.a. n.a. FHFA House Hits: 2 |
MTR-2017-07.pdfPA Association of Realtors. 11. The annual growth rate of an index that measures the average price change of residential homes with mortgages purchased or securitized by Fannie Mae or Freddie Mac. Source: Federal Housing Finance Agency. 12. Per capita levels Personal Income 9 2.6% 1.6% 3.1% 2.8% 3.3% 2.5% 3.9% n.a. Completed Home Sales 10 0.8% 5.6% 5.0% 1.6% 2.8% 5.2% n.a. n.a. FHFA House Hits: 2 |
MTR-2017-03.pdfPersonal Income 9 3.6% 3.4% 3.6% 3.7% 2.4% 2.7% 3.4% 3.2% Completed Home Sales 10 5.7% 4.0% 0.8% 5.6% 11.2% 11.2% 2.8% 5.2% FHFA House PA Association of Realtors. 11. The annual growth rate of an index that measures the average price change of residential homes with mortgages purchased or securitized by Fannie Mae or Freddie Mac. Source: Federal Housing Finance Agency. 12. Per capita levels Hits: 2 |
MTR-2017-02.pdfElectricity Sales 13 -3.9% -6.2% -4.9% -4.9% -2.2% -2.8% -0.6% 0.8% Completed Home Sales 10 5.7% 4.0% 0.8% 5.6% 11.2% 11.2% 2.8% 5.2% Monthly Economic PA Association of Realtors. 11. The annual growth rate of an index that measures the average price change of residential homes with mortgages purchased or securitized by Fannie Mae or Freddie Mac. Source: Federal Housing Finance Agency. 12. Per capita levels Hits: 2 |
MTR-2016-12.pdfPersonal Income 9 3.9% 3.6% 3.4% 3.5% 3.5% 2.5% 2.6% 2.9% Completed Home Sales 10 2.0% 5.7% 4.0% 0.8% 6.9% 11.0% 11.4% 1.5% FHFA House PA Association of Realtors. 11. The annual growth rate of an index that measures the average price change of residential homes with mortgages purchased or securitized by Fannie Mae or Freddie Mac. Source: Federal Housing Finance Agency. 12. Per capita levels Hits: 2 |
MTR-2016-11.pdfPersonal Income 9 3.9% 3.6% 3.4% 3.5% 3.5% 2.5% 2.5% n.a. Completed Home Sales 10 2.0% 5.7% 4.0% 0.8% 6.9% 11.0% 11.4% 1.5% FHFA House PA Association of Realtors. 11. The annual growth rate of an index that measures the average price change of residential homes with mortgages purchased or securitized by Fannie Mae or Freddie Mac. Source: Federal Housing Finance Agency. 12. Per capita levels Hits: 2 |
MTR-2016-10.pdfPersonal Income 9 3.9% 3.6% 3.2% 3.2% 3.5% 2.5% 2.5% n.a. Completed Home Sales 10 2.0% 5.7% 4.0% 0.7% 6.9% 11.0% 11.4% 1.5% FHFA House PA Association of Realtors. 11. The annual growth rate of an index that measures the average price change of residential homes with mortgages purchased or securitized by Fannie Mae or Freddie Mac. Source: Federal Housing Finance Agency. 12. Per capita levels Hits: 2 |
MTR-2016-08.pdfElectricity Sales 13 -3.8% -5.3% -1.0% -3.4% -1.2% -4.5% -1.7% -2.3% Completed Home Sales 10 8.3% 2.0% 5.7% 4.0% 13.4% 7.1% 11.2% 9.9% Monthly Economic PA Association of Realtors. 11. The annual growth rate of an index that measures the average price change of residential homes with mortgages purchased or securitized by Fannie Mae or Freddie Mac. Source: Federal Housing Finance Agency. 12. Per capita levels Hits: 2 |
MTR-2016-06.pdfElectricity Sales 13 -3.6% -3.8% -5.3% -1.0% -1.6% -1.2% -4.5% -1.7% Completed Home Sales 10 8.2% 8.3% 2.0% 5.7% 11.8% 13.3% 6.9% 9.8% Monthly Economic PA Association of Realtors. 11. The annual growth rate of an index that measures the average price change of residential homes with mortgages purchased or securitized by Fannie Mae or Freddie Mac. Source: Federal Housing Finance Agency. 12. Per capita levels Hits: 2 |
MTR-2016-03.pdfPersonal Income 9 4.5% 4.5% 4.5% 4.0% 3.5% 3.3% 3.4% 3.0% Completed Home Sales 10 6.9% 8.2% 8.3% 2.0% 12.4% 11.8% 13.3% 5.0% FHFA House PA Association of Realtors. 11. The annual growth rate of an index that measures the average price change of residential homes with mortgages purchased or securitized by Fannie Mae or Freddie Mac. Source: Federal Housing Finance Agency. 12. Per capita levels Hits: 2 |
MTR-2016-02.pdfElectricity Sales 13 -3.1% -3.8% -4.0% n.a. -2.4% -1.6% -1.2% n.a. Completed Home Sales 10 6.9% 8.2% 8.3% 2.0% 12.4% 11.8% 13.3% 5.0% Monthly Economic PA Association of Realtors. 11. The annual growth rate of an index that measures the average price change of residential homes with mortgages purchased or securitized by Fannie Mae or Freddie Mac. Source: Federal Housing Finance Agency. 12. Per capita levels Hits: 2 |
MTR-2016-01.pdfElectricity Sales 13 -3.1% -3.8% -4.0% n.a. -2.4% -1.6% -1.2% n.a. Completed Home Sales 10 6.9% 8.2% 8.3% 2.2% 12.4% 11.8% 13.3% 5.0% Monthly Economic PA Association of Realtors. 11. The annual growth rate of an index that measures the average price change of residential homes with mortgages purchased or securitized by Fannie Mae or Freddie Mac. Source: Federal Housing Finance Agency. 12. Per capita levels Hits: 2 |
MTR-2015-11.pdfPersonal Income 9 5.2% 4.5% 4.5% 4.7% 4.4% 3.5% 3.3% n.a. Completed Home Sales 10 2.9% 6.9% 8.2% 8.3% 7.7% 13.2% 12.9% 12.3% FHFA House PA Association of Realtors. 11. The annual growth rate of an index that measures the average price change of residential homes with mortgages purchased or securitized by Fannie Mae or Freddie Mac. Source: Federal Housing Finance Agency. 12. Per capita levels Hits: 2 |
MTR-2015-10.pdfElectricity Sales 13 -1.3% -0.5% -0.7% n.a. -1.2% -1.8% -1.1% n.a. Completed Home Sales 10 2.9% 6.9% 8.2% 8.3% 7.7% 13.2% 12.9% 12.3% Monthly Economic PA Association of Realtors. 11. The annual growth rate of an index that measures the average price change of residential homes with mortgages purchased or securitized by Fannie Mae or Freddie Mac. Source: Federal Housing Finance Agency. 12. Per capita levels Hits: 2 |
MTR-2015-08.pdfElectricity Sales 13 -1.4% -1.2% -0.5% n.a. -0.6% -1.2% -1.8% n.a. Completed Home Sales 10 -3.8% 2.9% 6.9% 8.2% 0.4% 7.7% 12.7% 10.8% Monthly Economic PA Association of Realtors. 11. The annual growth rate of an index that measures the average price change of residential homes with mortgages purchased or securitized by Fannie Mae or Freddie Mac. Source: Federal Housing Finance Agency. 12. Per capita levels Hits: 2 |
MTR-2015-07.pdfElectricity Sales 13 -1.4% -1.3% -0.5% n.a. -0.6% -1.2% -1.8% n.a. Completed Home Sales 10 -3.8% 2.9% 6.9% 8.3% 0.4% 7.7% 12.7% 10.8% Monthly Economic PA Association of Realtors. 11. The annual growth rate of an index that measures the average price change of residential homes with mortgages purchased or securitized by Fannie Mae or Freddie Mac. Source: Federal Housing Finance Agency. 12. Per capita levels Hits: 2 |
MSC_March_31_2021.pdf6.0% Change Payroll Jobs (000s) 29 -896 -517 -468 -450 Change Labor Force (000s) 51 -96 -160 -231 -229 Home Values 5.1% 4.8% 8.3% 10.8% --- Notes: Real GDP is quarterly annualized growth rate. All other rates larger firms with online presence For example: retail clothing store employment still down by ~20% Investment in the home: gyms, meal preparation, entertainment, remodels Remote working is here to stay Impacts restaurants, dry cleaners, formal/business casual clothing Hits: 2 |
MRU-2020-10.pdfis likely driven by: (1) substantial federal transfer payments distributed in 2020 Q2 and Q3, (2) a significant increase in home refinancings that likely lowered household monthly payments/increased cash flow and (3) a shift in spending from out-of-state travel, gasoline, etc., to home furnishings, electronics and other taxable household goods. SUT growth is expected to slow in the coming months, with less federal Hits: 2 |
Monthly_Economic_Update_Table_December_2020.pdf0.8% n.a. n.a. Natural Gas Price 5 $1.22 $1.17 $1.07 $0.98 $2.37 Home Sales 6 13.8% 16.2% 4.7% n.a. n.a. Quarterly Data 2019.3 2019.4 2020.1 20 Oct-20 Nov-20 Dec-20 Unemployment Rate 1 8.4% 7.9% 6.9% 6.7% n.a. Home Sales 6 2.0% 9.9% 4.3% n.a. n.a. S&P 500 11 19.6% 13.0% Hits: 2 |
Monthly_Economic_Update_September_2022.pdf8.4% 8.1% Natural Gas Price 5 $5.95 $7.20 $6.81 $6.29 $7.61 Number of Home Sales 6 1.5% 0.0% 0.0% -7.5% n.a. PA Turnpike Traffic (cars) 7 9.4% 8 22 Jul-22 Aug-22 Unemployment Rate 1 3.6% 3.6% 3.6% 3.5% 3.7% Number of Home Sales 6 -2.6% -3.4% -5.4% -5.9% n.a. S&P 500 12 -1.2% -1.7% Hits: 2 |
Monthly_Economic_Update_September_2021_Indicators.pdf4.7% 4.6% Natural Gas Price 5 $1.95 $2.03 $2.23 $2.87 $3.51 Number of Home Sales 6 -3.9% -1.4% 2.8% 0.0% n.a. PA Turnpike Traffic (cars) 7 165.9% 81 21 Jul-21 Aug-21 Unemployment Rate 1 6.1% 5.8% 5.9% 5.4% 5.2% Number of Home Sales 6 -2.7% -1.2% 1.6% 2.0% n.a. S&P 500 12 43.6% 38.1% Hits: 2 |
Monthly_Economic_Update_September_2021.pdf4.7% 4.6% Natural Gas Price 5 $1.95 $2.03 $2.23 $2.87 $3.51 Number of Home Sales 6 -3.9% -1.4% 2.8% 0.0% n.a. PA Turnpike Traffic (cars) 7 165.9% 81 21 Jul-21 Aug-21 Unemployment Rate 1 6.1% 5.8% 5.9% 5.4% 5.2% Number of Home Sales 6 -2.7% -1.2% 1.6% 2.0% n.a. S&P 500 12 43.6% 38.1% Hits: 2 |
Monthly_Economic_Update_September_2020.pdf0.3% 0.4% n.a. Natural Gas Price 5 $1.31 $1.34 $1.31 $1.25 $1.07 Home Sales 6 -13.0% 4.3% 32.7% 13.8% n.a. Quarterly Data 2019.2 2019.3 2019.4 20 Jul-20 Aug-20 Sep-20 Unemployment Rate 1 13.3% 11.1% 10.2% 8.4% n.a. Home Sales 6 -9.7% 20.7% 24.2% 2.4% n.a. S&P 500 11 10.6% 5.4% Hits: 2 |
Monthly_Economic_Update_October_2022.pdf8.1% n.a. Natural Gas Price 5 $7.20 $6.81 $6.29 $7.86 $7.30 Number of Home Sales 6 0.0% 0.0% -7.5% 0.0% -1.6% PA Turnpike Traffic (cars) 7 2.5% -1 22 Aug-22 Sep-22 Unemployment Rate 1 3.6% 3.6% 3.5% 3.7% 3.5% Number of Home Sales 6 -3.4% -5.5% -5.7% -0.8% -1.5% S&P 500 12 -1.7% -11.9% Hits: 2 |
Monthly_Economic_Update_October_2021_Indicators.pdf4.6% n.a. Natural Gas Price 5 $2.03 $2.23 $2.87 $3.57 $4.18 Number of Home Sales 6 -1.4% 2.8% 0.0% -1.4% n.a. PA Turnpike Traffic (cars) 7 81.1% 40 21 Aug-21 Sept-21 Unemployment Rate 1 5.8% 5.9% 5.4% 5.2% n.a. Number of Home Sales 6 -1.2% 1.6% 2.2% -2.0% n.a. S&P 500 12 38.1% 38.6% Hits: 2 |
Monthly_Economic_Update_October_2021.pdf4.6% n.a. Natural Gas Price 5 $2.03 $2.23 $2.87 $3.57 $4.18 Number of Home Sales 6 -1.4% 2.8% 0.0% -1.4% n.a. PA Turnpike Traffic (cars) 7 81.1% 40 21 Aug-21 Sept-21 Unemployment Rate 1 5.8% 5.9% 5.4% 5.2% n.a. Number of Home Sales 6 -1.2% 1.6% 2.2% -2.0% n.a. S&P 500 12 38.1% 38.6% Hits: 2 |
Monthly_Economic_Update_October_2020.pdf0.4% n.a. n.a. Natural Gas Price 5 $1.34 $1.32 $1.22 $1.19 $0.45 Home Sales 6 4.3% 32.7% 13.8% n.a. n.a. Quarterly Data 2019.2 2019.3 2019.4 20 Aug-20 Sep-20 Oct-20 Unemployment Rate 1 11.1% 10.2% 8.4% 7.9% n.a. Home Sales 6 20.2% 24.7% 2.4% n.a. n.a. S&P 500 11 5.4% 9.8% Hits: 2 |
Monthly_Economic_Update_November_2022.pdf7.9% 7.8% Natural Gas Price 5 $6.81 $6.29 $7.86 $6.52 $4.80 Number of Home Sales 6 0.0% -7.5% 0.0% -1.6% -6.6% PA Turnpike Traffic (cars) 7 -1.0% -4 22 Sep-22 Oct-22 Unemployment Rate 1 3.6% 3.5% 3.7% 3.5% 3.7% Number of Home Sales 6 -5.5% -5.7% -0.8% -1.5% -5.9% S&P 500 12 -11.9% -6.0% Hits: 2 |
Monthly_Economic_Update_November_2021.pdf5.1% 5.6% Natural Gas Price 5 $2.23 $2.87 $3.57 $4.17 $4.37 Number of Home Sales 6 2.8% 0.0% -1.4% 5.5% n.a. PA Turnpike Traffic (cars) 7 40.0% 26 21 Sept-21 Oct-21 Unemployment Rate 1 5.9% 5.4% 5.2% 4.8% 4.6% Number of Home Sales 6 1.6% 2.2% -2.0% 7.0% n.a. S&P 500 12 38.6% 34.4% Hits: 2 |
Monthly_Economic_Update_May_2022.pdf7.9% 8.4% Natural Gas Price 5 $2.95 $3.83 $4.26 $4.22 $5.85 Number of Home Sales 6 -1.4% 6.8% -11.5% -4.3% 1.5% PA Turnpike Traffic (cars) 7 32.8% 5 22 Mar-22 Apr-22 Unemployment Rate 1 3.9% 4.0% 3.8% 3.6% 3.6% Number of Home Sales 6 -3.8% 6.6% -8.6% -3.0% -2.4% S&P 500 12 26.9% 21.6% Hits: 2 |
Monthly_Economic_Update_March_2023.pdf6.7% 6.9% Natural Gas Price 5 $4.56 $4.04 $4.74 $2.58 $2.01 Number of Home Sales 6 -5.0% -5.3% -3.7% -3.8% n.a. PA Turnpike Traffic (cars) 7 -2.3% -18 4% 3.6% Unemployment Rate (U6) 1,12 6.7% 6.7% 6.5% 6.6% 6.8% Number of Home Sales 6 -5.1% -7.2% -2.2% -0.7% n.a. S&P 500 13 -15.9% -10.7% Hits: 2 |
Monthly_Economic_Update_March_2022.pdf7.0% 7.3% Natural Gas Price 5 $4.47 $4.50 $2.95 $3.83 $4.24 Number of Home Sales 6 -1.3% 0.0% -1.4% 6.8% n.a. PA Turnpike Traffic (cars) 7 16.7% 53 21 Jan-22 Feb-22 Unemployment Rate 1 4.6% 4.2% 3.9% 4.0% 3.8% Number of Home Sales 6 0.2% 2.3% -3.8% 6.7% n.a. S&P 500 12 40.8% 26.1% Hits: 2 |
Monthly_Economic_Update_June_2022.pdf8.4% n.a. Natural Gas Price 5 $3.83 $4.26 $4.22 $5.88 $7.07 Number of Home Sales 6 6.8% -11.5% -4.3% 1.5% n.a. PA Turnpike Traffic (cars) 7 5.8% 29 22 Apr-22 May-22 Unemployment Rate 1 4.0% 3.8% 3.6% 3.6% 3.6% Number of Home Sales 6 6.6% -8.6% -3.0% -2.4% n.a. S&P 500 12 21.6% 14.8% Hits: 2 |
Monthly_Economic_Update_June_2021_Indicators.pdf3.5% n.a. Natural Gas Price 5 $2.27 $3.29 $2.03 $1.95 $1.97 Number of Home Sales 6 -2.2% -11.5% -1.3% -3.9% n.a. PA Turnpike Traffic (cars) 7 -27.6% -35 21 Apr-21 May-21 Unemployment Rate 1 6.3% 6.2% 6.0% 6.1% 5.8% Number of Home Sales 6 0.2% -6.3% -3.7% -2.7% n.a. S&P 500 12 15.2% 29.0% Hits: 2 |
Monthly_Economic_Update_June_2021.pdf3.5% n.a. Natural Gas Price 5 $2.27 $3.29 $2.03 $1.95 $1.97 Number of Home Sales 6 -2.2% -11.5% -1.3% -3.9% n.a. PA Turnpike Traffic (cars) 7 -27.6% -35 21 Apr-21 May-21 Unemployment Rate 1 6.3% 6.2% 6.0% 6.1% 5.8% Number of Home Sales 6 0.2% -6.3% -3.7% -2.7% n.a. S&P 500 12 15.2% 29.0% Hits: 2 |
Monthly_Economic_Update_July_2022.pdf8.6% 8.8% Natural Gas Price 5 $4.26 $4.22 $5.95 $7.20 $6.81 Number of Home Sales 6 -11.5% -4.3% 1.5% 1.5% n.a. PA Turnpike Traffic (cars) 7 5.8% 29 22 May-22 Jun-22 Unemployment Rate 1 3.8% 3.6% 3.6% 3.6% 3.6% Number of Home Sales 6 -8.6% -3.0% -2.6% -3.4% n.a. S&P 500 12 14.8% 14.0% Hits: 2 |
Monthly_Economic_Update_July_2021_Indicators.pdf4.2% 4.9% Natural Gas Price 5 $3.29 $2.03 $1.95 $2.03 $2.06 Number of Home Sales 6 -11.5% -1.3% -3.9% -1.4% n.a. PA Turnpike Traffic (cars) 7 -35.1% 23 21 May-21 Jun-21 Unemployment Rate 1 6.2% 6.0% 6.1% 5.8% 5.9% Number of Home Sales 6 -6.3% -3.7% -2.7% -0.9% n.a. S&P 500 12 29.0% 53.7% Hits: 2 |
Monthly_Economic_Update_July_2021_Final.pdf4.2% 4.9% Natural Gas Price 5 $3.29 $2.03 $1.95 $2.03 $2.06 Number of Home Sales 6 -11.5% -1.3% -3.9% -1.4% n.a. PA Turnpike Traffic (cars) 7 -35.1% 23 21 May-21 Jun-21 Unemployment Rate 1 6.2% 6.0% 6.1% 5.8% 5.9% Number of Home Sales 6 -6.3% -3.7% -2.7% -0.9% n.a. S&P 500 12 29.0% 53.7% Hits: 2 |
Monthly_Economic_Update_July_2020.pdf0.0% 0.1% n.a. Natural Gas Price 5 $1.37 $1.43 $1.31 $1.33 $1.15 Home Sales 6 -7.1% -16.9% -13.0% 4.3% n.a. Quarterly Data 2019.1 2019.2 2019.3 20 May-20 Jun-20 Jul-20 Unemployment Rate 1 4.4% 14.7% 13.3% 11.1% n.a. Home Sales 6 -8.5% -17.8% -9.7% 20.7% n.a. S&P 500 11 -8.8% -1.1% Hits: 2 |
Monthly_Economic_Update_January_2023.pdf7.1% 6.4% Natural Gas Price 5 $7.86 $6.52 $4.56 $4.04 $4.98 Number of Home Sales 6 0.0% -1.6% -6.6% -7.0% -1.9% PA Turnpike Traffic (cars) 7 -0.9% -0 22 Nov-22 Dec-22 Unemployment Rate 1 3.7% 3.5% 3.7% 3.6% 3.5% Number of Home Sales 6 -0.8% -1.5% -5.9% -7.9% -1.5% S&P 500 12 -12.6% -16.8% Hits: 2 |
Monthly_Economic_Update_January_2021_Indicators.pdf0.9% 1.1% n.a. Natural Gas Price 5 $1.17 $1.07 $1.09 $1.98 $2.32 Home Sales 6 16.2% 4.7% -2.2% n.a. n.a. PA Turnpike Traffic (cars) 7 -22.3% -22 20 Nov-20 Dec-20 Jan-21 Unemployment Rate 1 7.8% 6.9% 6.7% 6.7% n.a. Home Sales 6 9.9% 4.4% -2.5% n.a. n.a. S&P 500 12 13.0% 7.7% Hits: 2 |
Monthly_Economic_Update_Indicators_February_2022.pdf6.6% n.a. Natural Gas Price 5 $4.17 $4.47 $4.50 $2.95 $3.59 Number of Home Sales 6 5.5% -1.3% 0.0% -1.3% n.a. PA Turnpike Traffic (cars) 7 16.2% 16 21 Dec-21 Jan-22 Unemployment Rate 1 4.7% 4.6% 4.2% 3.9% 4.0% Number of Home Sales 6 7.0% 0.8% 2.2% -4.6% n.a. S&P 500 12 28.1% 40.8% Hits: 2 |
Monthly_Economic_Update_February_2022.pdf6.6% n.a. Natural Gas Price 5 $4.17 $4.47 $4.50 $2.95 $3.59 Number of Home Sales 6 5.5% -1.3% 0.0% -1.3% n.a. PA Turnpike Traffic (cars) 7 16.2% 16 21 Dec-21 Jan-22 Unemployment Rate 1 4.7% 4.6% 4.2% 3.9% 4.0% Number of Home Sales 6 7.0% 0.8% 2.2% -4.6% n.a. S&P 500 12 28.1% 40.8% Hits: 2 |
Monthly_Economic_Update_February_2021_Indicators.pdf0.9% 1.1% n.a. Natural Gas Price 5 $1.17 $1.07 $1.09 $2.01 $2.30 Home Sales 6 16.2% 4.7% -1.1% 4.5% n.a. PA Turnpike Traffic (cars) 7 -22.3% -22 20 Nov-20 Dec-20 Jan-21 Unemployment Rate 1 7.8% 6.9% 6.7% 6.7% 6.3% Home Sales 6 9.9% 4.4% -2.2% 0.7% n.a. S&P 500 12 13.0% 7.7% Hits: 2 |
Monthly_Economic_Update_February_2021.pdf0.9% 1.1% n.a. Natural Gas Price 5 $1.17 $1.07 $1.09 $2.01 $2.30 Home Sales 6 16.2% 4.7% -1.1% 4.5% n.a. PA Turnpike Traffic (cars) 7 -22.3% -22 20 Nov-20 Dec-20 Jan-21 Unemployment Rate 1 7.8% 6.9% 6.7% 6.7% 6.3% Home Sales 6 9.9% 4.4% -2.2% 0.7% n.a. S&P 500 12 13.0% 7.7% Hits: 2 |
Monthly_Economic_Update_December_2022.pdf7.8% n.a. Natural Gas Price 5 $6.29 $7.86 $6.52 $4.56 $3.43 Number of Home Sales 6 -7.5% 0.0% -1.6% -6.6% n.a. PA Turnpike Traffic (cars) 7 -4.2% -0 22 Oct-22 Nov-22 Unemployment Rate 1 3.5% 3.7% 3.5% 3.7% 3.7% Number of Home Sales 6 -5.7% -0.8% -1.5% -5.9% n.a. S&P 500 12 -6.0% -12.6% Hits: 2 |
Monthly_Economic_Update_August_2022.pdf8.8% n.a. Natural Gas Price 5 $4.22 $5.95 $7.20 $6.81 $5.63 Number of Home Sales 6 -4.3% 1.5% 0.0% 0.0% n.a. PA Turnpike Traffic (cars) 7 29.1% 9 22 Jun-22 Jul-22 Unemployment Rate 1 3.6% 3.6% 3.6% 3.6% 3.5% Number of Home Sales 6 -3.0% -2.6% -3.4% -5.4% n.a. S&P 500 12 14.0% -1.2% Hits: 2 |
Monthly_Economic_Update_August_2020.pdf0.1% n.a. n.a. Natural Gas Price 5 $1.43 $1.31 $1.34 $1.32 $1.26 Home Sales 6 -16.9% -13.0% 4.3% 30.6% n.a. Quarterly Data 2019.2 2019.3 2019.4 20 Jun-20 Jul-20 Aug-20 Unemployment Rate 1 14.7% 13.3% 11.1% 10.2% n.a. Home Sales 6 -17.8% -9.7% 20.7% 24.2% n.a. S&P 500 11 -1.1% 10.6% Hits: 2 |
Monthly_Economic_Update_April_4_2023.pdf6.9% n.a. Natural Gas Price 5 $4.04 $4.74 $2.58 $2.02 $2.14 Number of Home Sales 6 -5.3% -3.7% -3.8% 4.0% n.a. PA Turnpike Traffic (cars) 7 -18.0% 0 6% n.a. Unemployment Rate (U6) 1,12 6.7% 6.5% 6.6% 6.8% n.a. Number of Home Sales 6 -7.2% -2.2% -0.7% 14.5% n.a. S&P 500 13 -10.7% -19.4% Hits: 2 |
Monthly_Economic_Update_April_2022.pdf7.3% n.a. Natural Gas Price 5 $4.50 $2.95 $3.83 $4.26 $4.01 Number of Home Sales 6 0.0% -1.4% 6.8% -11.5% n.a. PA Turnpike Traffic (cars) 7 53.9% 32 22 Feb-22 Mar-22 Unemployment Rate 1 4.2% 3.9% 4.0% 3.8% 3.6% Number of Home Sales 6 2.3% -3.8% 6.6% -7.2% n.a. S&P 500 12 26.1% 26.9% Hits: 2 |
Monthly_Economic_Update_April_2021_Indicators.pdf1.0% 1.0% n.a. Natural Gas Price 5 $1.09 $2.01 $2.27 $3.29 $2.15 Home Sales 6 -1.1% 3.5% -2.2% -11.5% -1.3% PA Turnpike Traffic (cars) 7 -29.3% -32 20 Jan-21 Feb-21 Mar-21 Unemployment Rate 1 6.7% 6.7% 6.3% 6.2% 6.0% Home Sales 6 -2.1% 0.9% 0.2% -6.3% -3.7% S&P 500 12 15.3% 16.3% Hits: 2 |
Monthly_Economic_Update_April_2021.pdf1.0% 1.0% n.a. Natural Gas Price 5 $1.09 $2.01 $2.27 $3.29 $2.15 Home Sales 6 -1.1% 3.5% -2.2% -11.5% -1.3% PA Turnpike Traffic (cars) 7 -29.3% -32 20 Jan-21 Feb-21 Mar-21 Unemployment Rate 1 6.7% 6.7% 6.3% 6.2% 6.0% Home Sales 6 -2.1% 0.9% 0.2% -6.3% -3.7% S&P 500 12 15.3% 16.3% Hits: 2 |
Mid_Year_FY16-17_Presentation.pdf6% 9.2% 9.4% 7.6% Credit Card (7%) 3.0% 5.2% 4.5% 1.8% 3.6% Home Mortgage (60%) 1.4% 0.0% 2.7% 3.0% -0.8% Home Equity (6%) 7.1% 1.8% 1.3% 7.2% 6.7% Student Loans (14%) 2.0% 2.5% 2 Hits: 2 |
Lancaster_Chamber_Presentation_ Oct_6_2021.pdfof pandemic (Oxford Economics) ▪ But how much is a timing issue? | When would they have retired? More workers stay at home in caretaker/teacher roles ▪ Large drop in nursing home staff ▪ Childcare availability remains below pre-pandemic levels ▪ Cyber charter enrollment doubles in 2020-21 Structural unemployment likely unusually high Hits: 2 |
jackson ppt.pdfThe recession led to a drop-off in household formation. • Sustained job growth is needed for revival. • Record affordability of homes should boost demand. • Credit conditions remain tight across regions. • Mortgage foreclosures are adding to excess supply, thereby depressing prices and holding back new construction. • Multifamily home construction will lead the recovery, reflecting a shift from owner- occupied to rental housing. A Much-Delayed Recovery in US Hits: 2 |
Ironman_Triathlon_Impact_Analysis_2024_04.pdfvolunteers were assumed to spend $75 per day. A table at the end of this report provides detail on athletes’ home county, state or country. Other assumptions used by the economic analysis include: • Hotel room rates increased for dates prior to from out-of-state vendors at the event and wages paid to event staff that will be spent in their home state. 4 Leakage refers to spending that flows out of the state economy such as federal taxes, savings, out-of- Hits: 2 |
Initial_Revenue_Update_May_2023_Final.pdfWages and Salaries $351.2 $423.0 20.4% S&P 500 Index 2,834 4,109 45.0% PA Home Value Index 226.7 327.5 44.5% FY Revenues 18-19 22-23 Growth Corporate Net Income $3.40 12.5% 13.0% -- U.S. Credit Card 14.4% 15.6% 15.4% 16.0% 15.0% 1 PA Home Value Index 12.9% 9.6% 8.1% 4.2% -- S&P 500 Index -11.9% -16.8% -19.4% Hits: 2 |
Initial_Revenue_Estimate_Presentation_May_2023_Final.pdfWages and Salaries $351.2 $423.0 20.4% S&P 500 Index 2,834 4,109 45.0% PA Home Value Index 226.7 327.5 44.5% FY Revenues 18-19 22-23 Growth Corporate Net Income $3.40 12.5% 13.0% -- U.S. Credit Card 14.4% 15.6% 15.4% 16.0% 15.0% 1 PA Home Value Index 12.9% 9.6% 8.1% 4.2% -- S&P 500 Index -11.9% -16.8% -19.4% Hits: 2 |
IFO_Testimony_Feb2018.pdfnet new jobs last year) and wages increasing at a solid pace (4.2% in latest quarter). Moreover, median existing home values increased by 4.4% last year, while total mortgage debt of Pennsylvania consumers was flat (includes home equity loans). Overall, these data suggest sound economic fundamentals and potential for further expansion into next fiscal year. There are Hits: 2 |
IFO_Hearing_Packet_Feb2019.pdf2 238.4 7.6 11.2 Healthcare Hospitals-Physicians 458.7 472.7 494.9 14.0 22.2 Home Healthcare 33.7 43.2 66.0 9.5 22.8 Nursing Home 190.2 200.0 204.4 9.8 4.4 Substance Abuse Facilities 46.1 51.3 55.2 5 Hits: 2 |
IFO_Hearing_Materials_02_2024.pdf8% 11.4% -1.2% -2.0% -3.2% -3.3% -2.4% -2.0% Durable Goods (9.1%) FHFA Home Value Index RedFin Home Sales 30-Yr Mortgage Rate Unemployment Rate Housing Market Number Unemployed (000s) Labor Market (SA) Consumers Note: All growth rates Hits: 2 |
HAC testimony Feb 2019.pdfnew payroll jobs in 2018) and wages increasing at a solid pace (4.3% for 2018 Q4). Moreover, median existing home values increased by 4.3% in the latest quarter (2018 Q3) while per capita consumer debt increased modestly (1.8% nearly one-third of the net new jobs created occurred in three low-wage sectors: food service, social assistance and home healthcare. Due to flat demographic growth, the IFO expects that the state unemployment rate will remain low and service industry Hits: 2 |
Grow PA 12.3.2019.pdf8% 3.9% 4.2% Philadelphia CPI-U 1.7% 1.3% 1.5% 2.0% 2.3% --- Zillow Median Home Price 1.8% 2.7% 3.3% 4.7% 6.8% --- Zillow Home Sales 7.8% 2.2% -0.5% 1.2% 2.7% --- Year-Over-Year Growth Rate, Change or Level PA Hits: 2 |
Five_Year_Outlook_Presentation_2022.pdfto facilitate jobs creation Economics ▪ Simulation assumes no recession, but no growth for CY 2023 Revenues ▪ Inflation boosts stock and home values | capital gains surge in 2021 (+85%) ▪ Business profits far above historical levels ▪ CNIT rate cut reduces revenues by $1 Domestic Profits record levels S&P 500 Index through Nov 11 PA Economy Nominal GDP real and inflation growth PA Home Values growth decelerating quickly 0.90 1.10 1.30 1.50 1.70 2018 2019 2020 2021 2022 +47% Hits: 2 |
Economic_Summit_Presentation_Sept_2023.pdf000s) 66 -357 128 136 45 6 Unemployment Rate 4.3% 8.9% 6.0% 4.4% 3.9% 7 Home Sales 3.7% 7.2% 10.9% -12.9% -20.0% 8 Home Values 5.0% 7.4% 14.0% 11.1% 4.0% Revenue Source (Fiscal Year) 2018-19 2019-20 2020- Hits: 2 |
Economic_and_Revenue_Update_Presentation_August_2020.pdflong-term unemployed | many jobs will not return in prior form Consumer spending is remarkably robust Spending shifts to home remodeling, furniture/appliances, groceries, cars But what impact from loss of $600 weekly FPUC payment? July revenues exceed expectation Change (000s, annualized) 55.1 41.4 27.8 -847.4 % Renters Deferring/Not Paying -- -- 11.4% 19.1% Zillow Home Value Index 4.1% 4.1% 4.0% 4.2% Per Capita Consumer Debt 3.5% 3.7% 3.7% Hits: 2 |
Economic_and_Revenue_Update_2020.pdf1.2 -0.3 -- Continued UE Claims -19.1 -6.8 -14.9 -9.2 -3.9 -- Housing Market Number Home Sales 12.4% 7.8% 5.8% 2.4% -1.0% -- Median Sales Price 2.7% 2.5% 4.4% Assist 26.4 27.0 19.7 17.5% Offices of Physicians 2.2 2.9 1.7 2.0% Home Healthcare 4.5 5.9 5.6 1.2% Social Assistance 13.9 11.7 6.7 3.7% All Hits: 2 |
DotPlotData.xlsx056 $205,532 $545,616 $729,064 $4,060,844 272 $14,930 334 186 56% 146 272 54% 128323303 Homer-Center SD 4213290 32-Town: Distant Town $16,320,931 $1,476,143 $117,289 $322,492 $49,500 $14 Town $5,541,056 $205,532 $0 $5,335,524 638 $8,360 334 186 56% 146 272 54% 128323303 Homer-Center SD 4213290 32-Town: Distant Town $16,320,931 $1,476,143 $0 $14,844,789 1,076 $13 Hits: 2 |
CompetePA_March_11_2021.pdfBusiness Revenue -28% no recovery in 2021 Q1 PA Economic Positives Cash Income (CY 2020) +8.3% highest since 1998 Home Values +10.8% highest since 2005 Sales Tax Revenues +5.4% online sales tax doubles Credit Card Debt -11.6% larger firms with online presence For example: retail clothing store employment still down by ~50% Investment in the home: gyms, meal preparation, entertainment, remodels Remote working is here to stay Impacts restaurants, dry cleaners, formal/business casual clothing Hits: 2 |
2002_drop_report.pdfresources to be used in retirement is the primary attraction. Also, during the DROP period, employees may experience increased take-home pay because pension contributions typically are not required. DROPs are particularly advantageous to employees who are members of pension plans contributions generally cease upon DROP election, employees who normally contribute to their retirement plans may experience an increase in take-home pay while participating in a DROP. From the viewpoint of the participants, DROPs have several disadvantages. 1) In defined benefit Hits: 2 |
LinksIndicators • 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 Hits: 2 |
index.cfmagreement between the Commonwealth of Pennsylvania and the Correctional Institution Vocational Education Association (CIVEA). ... (Full Report) Pennsylvania's Strained Nursing Homes Economics and Other October 25, 2023 The IFO posted a new research brief that discusses placement waitlists and potential cost implications from the contraction in nursing home capacity since 2019. ... (Full Report) UFWC Wage Contract Analysis Wage Contracts October 25, 2023 This letter provides a fiscal impact Hits: 2 |
The Payroll Tax Cut Extension FINAL.pdfand suggestions can be submitted on the “Contact IFO” page. INTRODUCTION Throughout 2011, workers received a boost in their take-home pay due to the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010. That Act temporarily reduced the Hits: 1 |
TC_2023_PA_Resource_Manufacturing.pdfdirect job at the plant) for the chemical manufacturing industry (6.08) is high compared to other industries such as home health care services (1.39) or public education (1.42). 16 This is due to (1) a clustering effect from Hits: 1 |
TC_2023_Manufacturing.pdfnumber of new jobs and/or increase their annual taxable payroll. However, the tax credit computation differs by state. Okla- homa and Washington offer tax credits based on the number of new jobs created. Maryland and Pennsyl- vania compute the incentive Hits: 1 |
TC_2021_Resource_Enhancement_and_Protection.pdfportions of six states (Pennsylvania, New York, Delaware, Maryland, Virginia and West Virginia) and the District of Columbia. It is home to a diversity of fish, shellfish, bird and aquatic vegetation whose habitats are threatened by oxygen-depleted waters due to Hits: 1 |
TC_2020_Organ and Bone Marrow Donation Tax Credit.pdfs absence from work generally includes time in the hospital immediately following the procedure, as well an at-home recovery period. While the procedure and recovery for bone marrow dona- tion is relatively brief (about one week), time off for organ Hits: 1 |
TC_2019_Historic_Preservation_Tax_Credit_Report.pdfthis review assumes that the purpose of the tax incentive is to stimulate rehabilitation of historic structures and homes. The credit reduces the cost of the rehabilitation project by subsidizing the activity and reducing the risk to the developer. It is Hits: 1 |
State_Tax_Comparison_2024_02.pdfPennsylvania relies on SUT relatively less than other states due to broad exemptions for most clothing and food purchased for home consumption. Moreover, some states levy sales tax on gasoline in addition to an excise tax, but Pennsylvania does not. State Hits: 1 |
State_Tax_Comparison_2023_02.pdfPennsylvania relies on SUT relatively less than other states due to broad exemptions for most clothing and food purchased for home consumption. Moreover, some states levy sales tax on gasoline in addition to an excise tax, but Pennsylvania does not. State Hits: 1 |
State_Tax_Comparison_2022_01.pdfPennsylvania relies on SUT relatively less than other states due to broad exemptions for most clothing and food purchased for home consumption. Moreover, some states levy sales tax on gasoline in addition to an excise tax, but Pennsylvania does not. State Hits: 1 |
State_Tax_Comparison_2020_11.pdfon SUT relatively less than other states due to broad exemptions for most clothing and food purchased for home consumption. Moreover, some states levy sales tax on gasoline in addition to an excise tax, but Pennsylvania does not. Table 3 Sales Hits: 1 |
State-Tax-Comparison-2020-01.pdfon SUT relatively less than other states due to broad exemptions for most clothing and food purchased for home consumption. Moreover, some states levy sales tax on gasoline in addition to an excise tax, whereas Pennsylvania does not. Table 3 Sales Hits: 1 |
SR2017-03.pdfPennsylvania relies on SUT relatively less than other states due to broad exemptions for most clothing and food purchased for home consumption. Moreover, some states levy sales tax on gasoline in addition to an excise tax, whereas Pennsylvania does not. Table Hits: 1 |
Senate_Appropriations_Committee_Response_Letter_2024.pdfrequested data on total state student debt rankings and a comparison of average debt balances based on the student’s home state. Data from the Federal Student Aid Office's Enterprise Data Warehouse show that Pennsylvania residents held $65.5 billion Hits: 1 |
SD_Prop_Tax_Update_Aug_2022.pdfexpanding share of seniors in the state population and (2) the increase in seniors who elect to remain in their homes. Table 2 displays the estimate of SD property taxes remitted by (1) non-senior homeowners, (2) senior homeowners and (3 Hits: 1 |
SD_Property_Tax_Forecast_Nov_2021.pdf2021-22, which is somewhat higher than previous analyses, due to increases in assessed values resulting from strong growth in home prices. During the forecast period, current-year collections are based on projected revenue growth from (1) typical tax base expansion Hits: 1 |
Revenue-Proposal-Analysis-2018-04.pdf0% 1.2% Rent 31.3% 2.8% 24.9% 2.3% 19.4% 1.8% Food at Home 18.6% 1.7% 26.4% 2.4% 15.4% 1.4% Medical Care 35.4% 3.1% 53.7% 4.4% Hits: 1 |
Revenue-Estimate-Performance_2022_10.pdfestimate, resulting in an upward revision of $220 million to the official forecast. COVID- 19 business closures and stay-at-home orders began in March, yielding a dramatic reduction to the General Fund forecast in the May update. This abrupt change Hits: 1 |
Revenue-Estimate-Performance-2021-09.pdfestimate, resulting in an upward revision of $220 million to the official forecast. COVID- 19 business closures and stay-at-home orders began in March, yielding a dramatic reduction to the General Fund forecast in the May update. This abrupt change Hits: 1 |
Revenue-Estimate-Performance-2020-09.pdfin an upward revision of $220 million to the official forecast. COVID- 19 business closures and stay-at-home orders began in March, yielding a dramatic reduction to the General Fund forecast in the May update. This abrupt change in economic Hits: 1 |
Revenue Conference Presentation Jan 2013 FINAL.pdf2012 7.9 7.4 7.1 6.6 Jan 2013 7.9 7.7 7.6 7.2 Existing Home Sales May 2012 ‐1.3% 9.1% 9.8% 11.9% Jan 2013 ‐1.5% 7.5% 12.5% 14 Hits: 1 |
REU-2019-10.pdfsales showed exceptional strength in October. Some analysts believe this may be driven in part by a significant increase in home refinancings in recent months. Sources and notes: 1. Source: U.S. Bureau of Labor Statistics—Survey of Households. 2. U Hits: 1 |
Response-Letter-09-12-2019-Part-2.pdf1,237,000 Hermitage 463,060 -352,000 Highlands 1,296,092 -985,000 Hollidaysburg Area 567,949 -431,000 Homer-Center 393,589 -299,000 Hopewell Area 1,150,839 -874,000 Huntingdon Area 671,389 -510,000 Indiana Area Hits: 1 |
RB_2024_01_SNAP.pdfmonthly benefit (+52% over four years), which outpaced grocery inflation as measured by the Philadelphia CPI-U for Food at Home (+25%). SNAP Benefits Received by Pennsylvania Residents November Data Total 2019 2020 2021 2022 2023 Growth Monthly Benefits ($ millions) $208 Hits: 1 |
RB_2023_12_Gasoline_Consumption_Remains_Subdued.pdfU.S. Census Bureau Pulse survey (and consistent with national trends), 26% of Pennsylvania workers 18 or older work from home one or more days per week. Other factors that negatively affect gasoline consumption are increased vehicle fuel efficiency and the Hits: 1 |
RB_2023_08_Property_Tax_Burden_by_County.pdfreliance on school district property taxes (as opposed to earned income taxes) and a relatively high proportion of vacation/secondary homes. • Snyder County residents and businesses remitted 1.51% of their income in property taxes, the lowest rate in the state Hits: 1 |
RB_2023_06_Jackpot_Lottery.pdf21, strong year-over-year growth in both games was primarily due to the removal of COVID-19 stay-at- home orders in FY 2019-20 and extra disposal income from various pandemic payments and tax credits. Game/ Fiscal Year Amount Hits: 1 |
RB_2021_10_Inflation_Impact_Wages.pdfcircumstances, higher inflation permanently eliminates a portion of fixed wealth, such as fixed pension benefits. Assets such as stocks or homes will generally increase in nominal value if inflation accelerates, effectively offsetting some, most or all of the inflationary impact. 3 Hits: 1 |
RB_2021_02 County Income Patterns.pdfinstitutionalized, which produced artificially low personal income and net earnings data. (Note: This analysis does not control for student, nursing home or institutionalized populations in other counties.) Counties with lower shares of net earnings are more likely to be older counties Hits: 1 |
RB_2021_01_Economic_Impact_of_Federal_Stimulus.pdfby early retirements, or individuals who elect to permanently exit the labor force to care for elderly parents, provide at-home schooling or other lifestyle changes. At this time, it is not known how COVID-19 has permanently impacted labor force Hits: 1 |
RB-2020-03 County Income Patterns.pdfpopulation was institutionalized, which produced artificially low per capita income levels. (Note: This analysis does not control for student, nursing home or institutionalized populations in other counties.) Second, Montour County is a relatively small county and the median income level is Hits: 1 |
RB-2017-5.pdfof this trend as residents depart northeastern states and move to western and southern states for reasons related to jobs, homes, family and climate. Younger demographic profiles and higher birth rates also contribute to the growth rate disparity. Data are from Hits: 1 |
RB-2015-04.pdfminimum wage. Other exempt employees include golf caddies, certain learners and students, farm laborers, domestic service workers in a private home and newspaper deliverers. Table 2 Number of Workers, Hourly‐Paid Workers and Minimum Wage Workers Pennsylvania (000s) 2006 2010 2011 Hits: 1 |
Presentation-2019-5-1-PAEL.pdf5.7 8.8 10.4 9.7 Social Assistance: All Other 2.0 3.3 3.5 2.1 Home Healthcare 4.2 4.8 4.5 5.9 All Other Healthcare -0.8 5.4 8.0 9.4 Hits: 1 |
Presentation-2018-08-PA-State-Association-Boroughs.pdfSecurity tax as savings. Source: U.S. Consumer Expenditure Survey, northeast region. August.08.2018 18 Fewer PA Seniors Own Home Outright Share of PA Homeowners w/o Mortgage Age 2006 2016 Change Under 35 10.5% 16.5% 6.0% Hits: 1 |
PMTA_Presentation_April_2023.pdfand Storage +30 Management (HQs) +14 Social Assistance Services +13 Computer System Design and Related +8 Truck Transportation +3 Nursing Home and Residential Care -27 Full-Service Restaurants -19 Local Gov’t: Municipals -11 Colleges and Universities -9 All Other -2 Hits: 1 |
Pitt_Chamber_Presentation.pdf1% 0.6% 1.3% 2.3% Average Net Job Gains (000s) 46.7 52.2 60.4 61.8 Home Price Index 2.5% 4.1% 4.4% 4.0% Tax revenues exceed estimate through February (+$135 million) Strong Hits: 1 |
PICA_Presentation_2020_11.pdf27 -21 -19 -65.1% -50.5% -48.0% Federal Government 2 3 9 2.5% 3.4% 8.9% Home Health Care 0 3 3 0.1% 3.7% 3.8% Retail – Building/Garden Supply -4 1 3 -9.1% Hits: 1 |
PBB_2023_PID_REPORT.pdf2,3 230 218 208 203 5 5 Full-time telework positions 2,3 0 0 0 0 202 203 Home-headquartered positions 2 25 25 27 26 26 30 Information Technology IT costs ($ millions) 3 $0.5 $0.4 $0 Hits: 1 |
PBB_2023_DOR_REPORT.pdfturnover rate 10% 12% 18% 7% 12% -- Office-based positions 2,3 -- -- -- -- 575 -- Full-time telework positions 2,3 -- -- -- -- 683 -- Home-headquartered positions 2 -- -- -- -- 194 -- Information Technology IT costs ($ thousands) 3 $52,314 $72,124 $57,382 $66,476 $63,917 Hits: 1 |
PBB_2023_DCNR_REPORT.pdf499 2,412 2,397 2,214 2,239 -- Full-time telework positions 2,3 0 0 0 0 5 -- Home-headquartered positions 2 2 2 2 2 2 -- Information Technology IT costs ($ millions) 3 $5.1 $7.4 $8.5 Hits: 1 |
PBB_2022_DLI_REPORT.pdf3 5,770 4,509 4,426 4,115 4,336 4,329 Full-time telework positions 2,3 -- -- -- -- -- 103 Home-headquartered positions 2 133 214 209 213 211 212 Information Technology IT costs ($ millions) 3 $61.5 $59.9 $83 Hits: 1 |
PBB_2022_AGRICULTURE_REPORT.pdf10.0% 10.0% Office-based positions 2,3 300 294 291 291 208 -- Full-time telework 2,3 -- -- -- -- 70 -- Home-headquartered positions 2 255 250 250 250 262 -- Information Technology IT costs ($ thousands) 3 $5,944 $5,666 $6,659 Hits: 1 |
PBB_2021_PennDOT_REPORT_ADDENDUM.pdfbroadband providers through the state’s broadband initiative. This initial investment will provide connections to over 9,000 businesses and homes in northern counties and provide connectivity and communications upgrades for the department’s facilities. 15-16 Actual 16-17 Actual Hits: 1 |
PBB_2020_PEMA_REPORT.pdfHUD) Disaster Assistance Program to disaster victims and public entities. Oversee the acquisition, elevation or removal of homes in the flood plain. Serve as the primary point-of-contact for Commonwealth entities requesting recovery assistance. Resources 14-15 Actual Hits: 1 |
PA_Assoc_of_Community_Bankers_Presentation_2020_12.pdf27 -21 -19 -65.1% -50.5% -47.3% Federal Government 2 3 4 2.5% 3.4% 8.9% Home Health Care 0 3 3 0.1% 3.7% 3.8% Retail – Building/Garden Supply -4 1 2 -9.1% Hits: 1 |
PASBO_Presentation_March_16_2023.pdf16, 2023 5 Sector or Sub-Sector Change Warehousing and Storage +30 Management (HQs) +14 Couriers and Messengers +6 Nursing Home and Residential Care -27 Full-Service Restaurants -18 Local Gov’t: municipals -10 Colleges and Universities -9 Non-Profits -9 Hits: 1 |
PASBO_March_17_2021.pdfconsumer spending patterns Online sales tax collections double | shift to larger firms with online presence Investment in the home: gyms, meal preparation, entertainment, remodels Remote working is here to stay Impacts restaurants, dry cleaners, formal/business casual clothing Hits: 1 |
PACBI_Presentation_March_13_2023.pdf13, 2023 5 Sector or Sub-Sector Change Warehousing and Storage +30 Management (HQs) +14 Couriers and Messengers +6 Nursing Home and Residential Care -27 Full-Service Restaurants -18 Local Gov’t: municipals -10 Colleges and Universities -9 Non-Profits -9 Hits: 1 |
Newsstand_February_2020.pdfbillion in 2019 Q4. This is largely due to mortgage refinancing as many homeowners cashed out the equity in their home. Mortgage balances delin- quent for 30 days or more fell to 1.0%—the lowest level on record. Credit card Hits: 1 |
NewsStand_2019_September.pdfthe same period last year. The decline in typical payments is due to lower mortgage rates and slower growth in home prices. The article states that homebuyers can expect lower typical mortgage payments through June 2020. According to IHS Markit, personal Hits: 1 |
NewsStand_2019_May.pdffor the various categories of debt were as follows: auto loans (3.6%), credit cards (3.0%), mortgages (-0.3%), home equity loans (-11.5%) and student loans (4.3%). By comparison, total per capita debt for all U.S. consumers Hits: 1 |
Newsstand_2019_March.pdfa year-over-year basis, the CPI-U increased 1.5%, led by gains in medical care (3.9%) and home furnishings (4.5%). Regional inflation was suppressed due to a drop in gas prices (-11.3%). Excluding consumer purchases related Hits: 1 |
Newsstand_2018_November.pdfof debt, the growth rates were as follows: auto (1.5%), credit cards (4.0%), primary mortgage (1.1%) and home equity loans (-5.8%). For total debt, the per capita increase was 1.8%. PA Real Gross Domestic Product Surges Hits: 1 |
Newsstand_2018_May.pdftotal Pennsylvania population. Net job gains continue to increase at a faster rate than the nation as a whole and home sales increased for the sixth consecutive year. These factors produced stronger-than-anticipated revenues for wage, sales, business, property, and Hits: 1 |
Newsstand_2018_June.pdfthe first quarter: student loans (5.0%), credit cards (4.7%), primary mortgages (1.8%), auto loans (1.2%) and home equity loans (-0.2%). Total consumer debt increased by 2.5%. By comparison, total debt of all U.S. consumers Hits: 1 |
Newsstand_2018_August.pdfauto loan (0.5%), credit card (4.5%) and student loan (5.0%) debt increased, primary mortgage (-0.6%) and home equity loans (-4.5%) declined. By comparison, per capita consumer debt for the U.S. increased by 3.5% from Hits: 1 |
MTR-2018-1.pdfBureau of Economic Analysis. 11. The annual growth rate of an index that measures the average price change of residential homes with mortgages purchased or securitized by Fannie Mae or Freddie Mac. Source: Federal Housing Finance Agency. 12. Per capita levels Hits: 1 |
MTR-2018-04.pdfBureau of Economic Analysis. 11. The annual growth rate of an index that measures the average price change of residential homes with mortgages purchased or securitized by Fannie Mae or Freddie Mac. Source: Federal Housing Finance Agency. 12. Per capita levels Hits: 1 |
MTR-2018-03.pdfBureau of Economic Analysis. 11. The annual growth rate of an index that measures the average price change of residential homes with mortgages purchased or securitized by Fannie Mae or Freddie Mac. Source: Federal Housing Finance Agency. 12. Per capita levels Hits: 1 |
MTR-2018-02.pdfBureau of Economic Analysis. 11. The annual growth rate of an index that measures the average price change of residential homes with mortgages purchased or securitized by Fannie Mae or Freddie Mac. Source: Federal Housing Finance Agency. 12. Per capita levels Hits: 1 |
MTR-2017-12.pdfBureau of Economic Analysis. 11. The annual growth rate of an index that measures the average price change of residential homes with mortgages purchased or securitized by Fannie Mae or Freddie Mac. Source: Federal Housing Finance Agency. 12. Per capita levels Hits: 1 |
MTR-2017-11.pdfBureau of Economic Analysis. 11. The annual growth rate of an index that measures the average price change of residential homes with mortgages purchased or securitized by Fannie Mae or Freddie Mac. Source: Federal Housing Finance Agency. 12. Per capita levels Hits: 1 |
MRU_2023_08.pdfAssociation show a 27.7% year-over-year (YOY) decline in total listings and a 21.6% YOY decline in home sales for the state, with only a 2.0% increase in the median sales price. ▪ Cigarette tax collections of $76 Hits: 1 |
MRU-2020-3.pdftransfer (RTT) and inheritance (INH) tax collections performed well in March, despite the closure of county courthouses and stay-at-home advisories. RTT was only $3.3 million below estimate for the month, while INH exceeded estimate by $26.3 million Hits: 1 |
Labor_Market_Update_Aug_2021.pdfgovernment (+10,900) sectors. Conversely, job losses in 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 Hits: 1 |
IFO_PASBO_Presentation_Nov_2021.pdfwk ends $300/wkends Source: U.S. Bureau of Labor Statistics. CTC starts Labor Force Contraction Federal programs Childcare Eldercare Home schooling COVID concerns Savings cushion Lifestyle change Early retirements Labor Force = Employed + Unemployed Who Stopped Working? Not Just the Elderly Hits: 1 |
IFO Five-Year Outlook.pdfNov.2012 Economic Outlook Modest growth, very slow “recovery.” Weakness in labor market. Consumers still “unwinding.” Rebuilding home equity. Paying down debt. Much uncertainty. Concern now shifts to student loan debt. PA second highest in nation at Hits: 1 |
HTAE_2019_05_15.pdf4 64.1 60.4 50.1 Philadelphia CPI-U 0.5% 1.6% 1.7% 1.3% 1.5% Home Price Index 6.2% 5.4% 4.6% 5.0% --- Natural Gas Production 10.1% 10.1% 18.6% 17 Hits: 1 |
House_Appropriation_Response_Letter_3_17_2021.pdfincrease costs in other areas including: marijuana substance abuse treatment, workplace incidents involving marijuana, drug-free workplace policies and unemployment, home growing and marijuana grey market enforcement, and certain long-term negative health impacts due to increased marijuana use. 3 See Hits: 1 |
GPNP July 10, 2012 final.pdfState Product 1.5% (2012) and 2.3% (2013) Unemployment Rate 7.4% (2012) and 7.1% (2013) Home Sales 10.0% (2012) and 11.9% (2013) But recent economic reports are disappointing. Another summertime slowdown? 10 Hits: 1 |
Five_Year_Outlook_Presentation_2023_final.pdf9% 6.6% 6.2% 5.5% CPI-U – All Items 7.1% 6.9% 3.9% 3.9% RedFin Home Sales -24.5% -20.1% -17.6% -17.5% Labor Market Unemployment Rate 4.4% 4.3% 4.0% 3 Hits: 1 |
Demographics_Outlook_2020.pdfThe temporary students are 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 Hits: 1 |
2023_Mid_Year_Update.pdfAug Oct Dec-20 Feb Apr Jun Aug Oct Dec-21 Feb Apr Jun Aug Oct Dec-22 food at home (8%) all items durables (11% of CPI) annual growth Philadelphia CPI (share of CPI in parens) Three Minor Series Drive Hits: 1 |
2018_Mid-Year_Update.pdfProfits 0.5% 6.2% 3.1% n.a. Pennsylvania Real GDP 0.3% 2.5% 3.2% n.a. Home Price Index 4.3% 4.6% 4.3% n.a. Philadelphia CPI-U 2.1% 1.0% 1.4% 0 Hits: 1 |
2013 Appropriation Hearings Background Information.pdfor hire additional workers. • Strength in the housing sector spills over to the rest of the economy. Increasing sales and home values have a positive effect on consumer sentiment, which leads to additional spending. New construction contributes directly to economic growth Hits: 1 |
2004_srpvffinal.pdffor the unusually large number of volunteer fire companies operating in Pennsylvania. First, Pennsylvania has the distinction of being the home of the first volunteer fire company and, therefore, has a longer history of volunteer fire service than other states. Perhaps Hits: 1 |
2000_cost_of_living_adjustments.pdflowering payments in the early years of the amortization period and increasing the payments in the later years. Like a home mortgage payment schedule, a longer amortization payment schedule results in smaller annual amortization payments and larger total payments. As a Hits: 1 |
Pensionsact of Feb. 1, 1974, P.L. 30, No. 15, as amended, 53 P.S. Section 891.101, et seq. • Home Rule Charter and Optional Plans Law, act of Dec. 19, 1996, P.L. 1158, No. 177, 53 Pa.C.S Hits: 1 |
Pensionsinto law on June 19, 2002, Act 65 amended the Third Class City Code to permit certain pension plans of home rule municipalities and cities operating under an optional charter that provide police and firefighter pension benefits in excess of 50 Hits: 1 |