Wednesday, October 31, 2012

Beyond the Burgh - Peak Pennsylvania Labor Force as well

I tend to forget the state stuff, but I should have noticed this. Pennsylvania hit a new all-time labor force peak with the September data that came out a couple weeks ago. 

Link: Data and chart from BLS.

Specifically the PA labor force is showing over 6.5 million for the first time ever.  Topping a peak of 6.482 million hit in November of 2008.    

Must not mean anything since nobody notices such things.   Yet this really matters in ways you may not realize.  It turns out that a big chunk of the official budget projections calculated by the Commonwealth of Pennsylvania are crucially dependent on what is projected to happen with labor force participation rates (see last slide).  Seriously.. it works out that lower LFP = bad for state revenue projections, higher LFP  = higher revenue projections. 

It's funny anticipating how much angst there will be debating the state budget, but virtually no notice of the numbers that will actually shape that debate up front. The way it works in Pennsylvania is that it all starts with the revenue projections.   One could argue that it ends there as well. 


Blogger One J said...

ray ban sunglasses
michael kors outlet online
michael kors handbags
jordan concords
abercrombie and fitch
tods outlet store
michael kors outlet online
coach factory online
coach outlet store online
ray ban sunglasses outlet
jordan 6 black infrared 2015
fitflop sale
coach outlet online
fendi handbags
michael kors outlet online
true religion outlet
coach factory
coach factory outlet
michael kors handbags
louis vuitton outlet

Wednesday, June 17, 2015 4:54:00 AM  

Post a Comment

Links to this post:

Create a Link

<< Home