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The Lead StoryIncome Inequality is Up in Pennsylvania and the NationIn 2004, the latest year for which data are available, the richest 0.01% of Pennsylvanians earned 591 times the average taxable income of the poorest 90% (how big a difference is that?). In the United States as a whole, income inequality is higher than at any time since before 1940. The trend is a marked departure from the period 1950–1979 when income was more fairly shared (see an historical summary).  Wages Higher at the Low End . . . But Still Stagnant Overall The hike in Pennsylvania's minimum wage signed into law in 2005 seems to be helping increase wages for workers at the bottom, but many other workers have seen few, if any gains. More » Slow Job Growth Compared to Earlier Business Cycles Pennsylvania has still not recovered all the jobs lost to the recession that ended in 2001, the worst record of any recovery since World War II! More » Productivity and Profits Are Higher The link that used to exist between productivity growth and and wages is still broken. More » Falling Unemployment and Rising Employment After peaking at 5.8% in 2002-03, Pennsylvania's unemployment rate declined steadily to an average of 4.3% over the 12-month period ending June 2007. More » Storm Clouds on the National Economic Horizon? There is mounting evidence that the collapse of the housing bubble has begun to harm other sectors of the economy. More »  The Prescription for Prosperity Most Pennsylvanians know that the link between a strong economy and the well-being of the many has been broken. They also understand why. The economic world has changed, most visibly due to globalization and the fall in manufacturing jobs. Many families have been the victims of these changes. How can the challenges of globalization be answered in Pennsylvania? The Prescription for Prosperity outlines a number of innovative policy responses. An Agenda for Rural Pennsylvania If rural Pennsylvania receives the focus and the resources that it needs, it has rich assets that provide a basis for a new era of vitality: natural beauty, gorgeous small towns, a strong work ethic, and strong communities in which, more than in urban Pennsylvania, everyone remains “in it together.” With smart investment in the future, rural Pennsylvania already possesses the human and social capital needed for future prosperity.  Rural Pennsylvania is at an Economic Crossroads Released in June, The State of Rural Pennsylvania takes a look at the health of the commonwealth's rural economy by reviewing 20 years of change. More » |
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