The IFO updated a gasoline consumption research brief published in January 2023 with additional consumption and retail pump price data. Gasoline consumption remains well below pre-pandemic levels partially due to the continuation of hybrid and remote work schedules for some workers.
Tags: brief, consumption, gasoline, research
Director Matthew Knittel provided testimony to the Basic Education Funding Commission on the results from the 2023 Basic Education Funding Commission Survey.
The IFO response to questions raised at the BEFC hearing can be found here.
This research brief highlights the dramatic decline in federal, state and Philadelphia cigarette tax collections since FY 2018-19.
The COVID-19 pandemic caused an inflation surge and wage pressures due to worker shortages and strong demand. This research brief uses the latest published data to examine how those outcomes affected real wages and earnings for the average or typical Pennsylvania private sector worker.
The IFO posted a new research brief that discusses placement waitlists and potential cost implications from the contraction in nursing home capacity since 2019.
Section 604-B (a)(2) of the Administrative Code of 1929 specifies that the Independent Fiscal Office (IFO) shall “provide an assessment of the state’s current fiscal condition and a projection of what the fiscal condition will be during the next five years. The assessment shall take into account the state of the economy, demographics, revenues and expenditures.” This report fulfills the demographics obligation of this statute. The IFO will release the Economic and Budget Outlook for Fiscal Years 2023-24 to 2028-29 in November 2023.
Tags: demographics, outlook
Director Knittel gave a presentation at the FTA Revenue Estimation and Tax Research Conference on the economic and revenue impact of the student loan moratorium.
Tags: loan, presentation, student
Treasury collections are up dramatically from prior years. This research brief examines the cause of the windfalls and explains why they aren’t expected to continue over the long-term.
Director Knittel made a brief presentation to an economic summit hosted by the York County Delegation of the General Assembly.
Tags: economic, presentation
This research brief uses the latest published data to generate maps and county rankings of recent demographic and income trends. The release highlights population change, personal income growth and per capita amounts for all counties in the Commonwealth.