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 Commonwealth collected $2.70 billion in General Fund revenues for July, a decrease of $1.40 billion (-34.2%) compared to July 2020. July 2020 collections included roughly $1.62 billion in revenue that was shifted from FY 2019-20 due to the COVID-19 pandemic. Excluding this shift, July 2021 revenues exceeded the prior year by $216.2 million (8.7%).
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.
The July 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.
Director Matthew Knittel provided a state pension system update for the PICPA Not-for-Profit and Government Accounting Conference.
Tags: pension, presentation
The Commonwealth collected $40.39 billion in General Fund revenues for FY 2020-21, an increase of $8.12 billion (25.1%) from the prior fiscal year.
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.