Pennsylvania’s Economy is Falling Further Behind

Pennsylvania's economy isn't looking so hot this summer. The Bureau of Labor Statistics reports:

• Pennsylvania lost 23,600 jobs in the last two months (nonfarm, payroll jobs).
• Over the same time frame, the unemployment rate climbed 0.6 percent with 43,900 more individuals officially counted as unemployed. Over a three month span, the unemployment rate rose 0.9 percent, and 60,500 more individuals were unemployed.
• Pennsylvania now exceeds the national unemployment rate.

Here’s some worse news: Our poor economic performance is part of a long-term trend.

• Pennsylvania lost 41,600 residents in net moves to other states last year—one person every 12.5 minutes.The Keystone State has lost 295,000 residents with $11.6 billion in annual income since 1992.
• From 1991 to 2015, Pennsylvania ranked a dismal 46^th in job growth, 45th in personal income growth, and 46th in population growth.
• Pennsylvania currently has the 15th highest state and local tax burden.

This bad news comes at a critical juncture in state budget negotiations. The question for lawmakers: Will raising taxes on families offer good news?

History indicates it won't.