IFO Releases
Minimum Wage Impact on Hourly Wages
January 24, 2024 | Economics and Other
This research brief examines how a higher statutory minimum wage could impact lower-wage workers and provides employment and hourly wage estimates for certain lower-wage occupations to illustrate that Pennsylvania effective labor market minimum wage is likely in the range of $10.50 to $11.00 per hour.
Tax Credits and Economic Development Incentives
January 09, 2024 | Economics and Other
This report presents data on Pennsylvania tax credits and economic development incentives for fiscal years (FY) 2018-19 through FY 2023-24. The tables provide annual detail on tax credit utilization or awards, state spending or grants, job training programs and state loan programs. Fiscal year 2023-24 amounts are budgeted, authorized or projected and may differ from final amounts expended or awarded for the year. The report also highlights recent changes to incentive program spending or utilization.
SNAP Policy Changes Expand Program
January 03, 2024 | Economics and Other
This research brief uses the latest data from the US Dept of Agriculture to examine post-pandemic SNAP trends. Since November 2019, policy and definition changes have increased the number of recipients by 16% and the average monthly benefit by 52%.
Gasoline Consumption Remains Subdued
December 19, 2023 | Economics and Other
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
Testimony on the 2023 Basic Education Funding Commission Survey
December 15, 2023 | Economics and Other
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.
Cigarette Tax Collections Collapse Since Pandemic
December 11, 2023 | Economics and Other
This research brief highlights the dramatic decline in federal, state and Philadelphia cigarette tax collections since FY 2018-19.
PA Worker Earnings Catch Up to Inflation
November 30, 2023 | Economics and Other
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.
Pennsylvania's Strained Nursing Homes
October 25, 2023 | Economics and Other
The IFO posted a new research brief that discusses placement waitlists and potential cost implications from the contraction in nursing home capacity since 2019.
2023 Demographic Outlook
October 19, 2023 | Economics and Other
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
Economic and Revenue Impact of Student Loan Moratorium
October 03, 2023 | Economics and Other
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