The IFO released its second edition of a new monthly publication that tracks conditions in the state labor market. Despite significant federal stimulus and job openings/quit rates at series highs, the May payroll jobs data do not reveal any reduction in pandemic-related job losses.
The Independent Fiscal Office (IFO) released its official revenue estimate for FY 2021-22. Updated estimates for FY 2020-21 are included.
Director Matthew Knittel provided a brief economic and revenue update for the PACP Chamber Day.
Tags: budget, economic, presentation
The June edition of our Monthly Economic Update includes links to recent articles and reports that provide insight into state or national economic, demographic and fiscal trends.
This update examines 2020 impact fee collections and provides an outlook for 2021. The Commonwealth collected $146.3 million in impact fees for 2020, a $54.1 million decrease from 2019 and the lowest amount since the fee's inception.
Tags: gas
The IFO issued a new monthly publication that tracks the state labor market. The data show that the pace of payroll jobs creation has stagnated despite significant federal stimulus.
The Commonwealth collected $3.95 billion in General Fund revenues for May, an increase of $1.84 billion (87.5%) compared to May 2020.