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JUNE 2, 2010 | Policy Points by COMMONWEALTH FOUNDATION
Pennsylvania Budget Facts 2010: Unemployment Compensation
Pennsylvania has borrowed over $3 billion from the federal government to keep its unemployment compensation fund solvent. Only California, with three times the population and a much higher unemployment rate, pays out more in unemployment claims.
FEBRUARY 17, 2010 | Commentary by ELIZABETH STELLE
The True Cost of Unemployment Compensation
Pennsylvania's unemployment compensation fund is bankrupt. Beginning in March 2009, the Keystone State borrowed over $2 billion from the federal government to keep it solvent. Unfortunately, unemployment continues to grow, making a bad situation worse. Since December 2007, Pennsylvania has lost more than 200,000 jobs. It is imperative tha
DECEMBER 16, 2009 | Commentary by KATRINA CURRIE
Five Threats to Pennsylvania's Prosperity
Pennsylvania has long been one of the most economically stagnant states in the nation. For the period 1991-2008, the Commonwealth ranked 45th in job growth, 46th in personal income growth, and 47th in population growth. Pennsylvania has also faired poorly in independent evaluations of states' business climates, i
Recent Blog Posts
AUGUST 26, 2010
The U.S. 'Jobs Spill'
Today the American Energy Alliance released a video about how tax policies on U.S. energy development drive jobs overseas. Included in the piece is an explanation of basic economics by former U.S. Congressman John Peterson of Pennsylvania:
posted by PAUL CHESSER | 04:06 PM | 0 comment
JULY 29, 2010
More on Government Jobs in Recession
The Rockefeller Institute of Government recently analyzed a Bureau of Labor Statistics report on jobs at this point in the recession. The report finds that with 9.2% unemployment, Pennsylvania is unsurprisingly keeping pace with the national rate of 9.5% unemployment.
Due to the skewed priorities of Pennsylvania's government, the private sector is doing quite poorly, while the public sector is relatively stable. In fact, local government education jobs are up by 1% from 2009. Adding insult to injury, public sector employees are paid better than their private sector counterparts.
Though there has been only a 0.2% drop in private employment since last year, the statistics are bleak for the private sector in a climate that, with its high corporate tax, is adverse to business and job creation. In fact, the trend covers the entire Middle Atlantic region, which has seen a 0.2% increase in civilian unemployment since last June.
The most surprising chart (Figure 3) in the Rockefeller Institute's analysis is that in recent recessions (except for 1980-82), government jobs increased significantly.
posted by LEAH ACHOR | 09:31 AM | 0 comment
JULY 20, 2010
PA's Largest Employers Then and Now
The Center for Workforce Information & Analysis provides a list of Pennsylvania's top 50 employers in ranked order. In 1967, Pennsylvania's top five largest employers were:
- U.S. Steel Corporation
- Bethlehem Steel Company
- Westinghouse Electric Corporation
- Bell Telephone Company
- General Electric Company
In the 4th quarter of 2009, the top five employers were:
- Federal Government
- Pennsylvania State Government
- Wal-Mart Associates Inc.
- City of Philadelphia
- University of Pennsylvania
Sears Roebuck & Co. is the only company that was on Pennsylvania's Top 50 Employers list from 1967 to remain on the 2009 list.
An important observation can be drawn from the list - the economy and business structure of Pennsylvania is constantly changing. Before (in the 60's and 70's) manufacturing, electricity, and a handful of merchandise stores dominated. Today, it's federal and state government employment with a strong presence of hospitals, large higher education institutions, and big box retailers.
It's natural for the business structure to change and impossible to predict which businesses will be around in 20, let alone 50 years. This is why government intervention in the form of corporate welfare is nonsensical at best. Bailouts and bribes take power away from the consumer and to concentrate it in the government.
posted by NATALIE ROGOL | 09:23 AM | 0 comment
