This research brief presents five maps that display recent demographic and income trends at the county level. The release highlights population change, personal income growth and per capita figures for all counties of the Commonwealth.
The IFO issued a new monthly publication that tracks the state labor market. The labor market improved in June as pandemic-related job losses declined following stagnation in previous months.
Director Matthew Knittel provided a state pension system update for the PICPA Not-for-Profit and Government Accounting Conference.
Tags: pension, presentation
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.
Director Matthew Knittel provided a brief economic and revenue update for the PACP Chamber Day.
Tags: budget, economic, presentation
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.
This research brief examines the impact of certain federal stimulus programs enacted in response to the COVID-19 pandemic on Pennsylvania residents and the economy. It estimates the total amount of federal stimulus provided directly to individuals by income group and considers the impact on employment, output, and whether the infusion of federal monies into the state economy is conducive to raising the state minimum wage.
In response to a legislative request, the IFO transmitted a letter that updates previous analyses on state and local budget issues, including (1) the IFO school district property tax forecast, (2) potential revenue sources that could replace school district property taxes if eliminated, (3) state spending dedicated to seniors, (4) the share of certain tax revenues remitted by seniors, (5) tax treatment of retirement income by state and (6) migration patterns by age groups.
Director Matthew Knittel gave a brief presentation to the Senate Majority Policy Committee on the impact of COVID-19 on the state economy.
Tags: coronavirus, economy, presentation
The Independent Fiscal Office (IFO) responded to several questions raised at the office's budget hearing before the Senate Appropriations Committee. The questions relate to the impact of the COVID-19 pandemic on employment based on gender, net domestic migration for Pennsylvania and border states, and education sector employment for Pennsylvania and border states.