Economics and Finance

State WIOA Plans are now available to be viewed online.

What is WIOA?

The Workforce Innovation and Opportunity Act, also known as WIOA, was signed in July 2014 and is a major reform of the public workforce system.  The WIOA supersedes the Workforce Investment Act of 1998 and amends the Adult Education and Family Literacy Act, the Wagner-Peyser Act, and the Rehabilitation Act of 1973.  The WIOA requires states to...

Are public pension plans trading off long-term stability for a less hair-raising sticker price for state governments today? A new report from the Rockefeller Institute of Government answers that question and takes a closer look at the difficult choices those running public pension funds have had to make over the last three decades, and what those choices mean for the future fiscal stability of states. 

In the coming months, legislators in almost every state will be grappling with writing a new budget. According to the National Association of State Budget Officers (NASBO), 47 states will enact a new budget for fiscal year 2018, while the three remaining states (Kentucky, Virginia and Wyoming) have previously enacted budgets that cover both fiscal years 2017 and 2018. Among those 47 states, most – 30 – will pass an annual budget, while 17 will authorize a two-year (biennial) budget that will cover both fiscal year 2018 and 2019. Note that for 46 states, fiscal year 2018 will begin on July 1, 2017. Alabama (Oct. 1), Michigan (Oct. 1), New York (Apr. 1) and Texas (Sept. 1) are the exceptions.  Most state legislatures adopt their new budgets in the spring.  

A new study from the Commonwealth Fund finds that repeal of two major federal spending provisions of the Affordable Care Act, insurance premium tax credits and the expansion of Medicaid, would ultimately lead to the loss of 2.6 million jobs in 2019. The data, generated by researchers at George Washington, breaks down the impact of repeal for each state. California would lose the most jobs, 334,000 their multistate economic forecasting model suggests, and Wyoming the least with 4,000 jobs lost.

Employment is the most direct and cost-effective means to empower individuals to achieve independence, economic self-sufficiency, and a sense of dignity and self-worth. This FREE CSG eCademy webcast focuses on employer practices and state policies that address the hiring, retention and re-entry of people with disabilities in the workplace. This is the final webcast in a four-part series presented by the National Task Force on Workforce Development for People with Disabilities, in partnership with the U.S. Department of Labor, Office of Disability Employment Policy.

More than a decade ago, analysts were predicting the next big challenge for state governments: The mass retirement of baby boomers. Then the Great Recession hit and those same baby boomers stayed put, delaying retirement until more prosperous times returned. Now that the economy is on the path to recovery, baby boomers are resuming their retirement plans. “Nearly all states have 30 percent or more of their employees eligible to retire within the next five years,” said Leslie Scott, executive director of the National Association of State Personnel Executives, a CSG affiliate organization.

CSG Midwest
Imagine being in your mid- to late 20s and walking into a workplace for the very first time as an employee. For many of today’s young Americans, this delayed entry into the workforce has become a harsh reality. During the Great Recession, unemployment rates soared for all age groups. 
But young people were hit particularly hard: In April 2010, the jobless rate for people between the ages of 16 and 24 reached a record high of nearly 20 percent. Today, youth unemployment in the United States still tops 10 percent, more than double the overall jobless rate. 

According to the National Association of State Budget Officers’ Fall 2016 Fiscal Survey of the States, most states are seeing weaker revenue conditions from 2016 carrying into fiscal 2017. At the time of data collection, 24 states reported general fund revenues for fiscal 2017 were coming in below forecast, while 16 states were on target and four states were above forecast. 

Check out our ongoing coverage of state budgets in 2017 HERE.

“The economy is sluggish and we don’t know what to expect from the federal government. We’ve got some tough times ahead,” Brian Sigritz, Director of State Fiscal Studies for the National Association of State Budget Officers (NASBO) told Fiscal and Economic Development Committee members last week during CSG’s National Conference in Williamsburg, VA. “There’s really just not enough money to go around.” 

Foreign direct investment, or FDI, is a vital component of states’ economies, helping build new industries and supporting nearly 6.4 million jobs nationwide.

But attracting foreign investment is increasingly difficult, said experts during Thursday’s “Best Practices in Attracting Investment” session, presented by the State International Development Organizations, or SIDO, at the 2016 CSG National Conference in Colonial Williamsburg, Virginia.

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