Pandemic may cause some permanent job loss
Last updated 1/28/2021 at 12:28pm
Fiscal analysts projected Jan. 21 that Pennsylvania's economic damage from the pandemic will last years, and some jobs may never return.
The Independent Fiscal Office released its five-year outlook that concluded lost economic growth in 2020 will lead to a $2 billion structural deficit – doubling the gap measured before the pandemic hit.
"The pandemic has brought really significant and abrupt economic changes," said IFO Director Matthew Knittel during a presentation of the results on Thursday. "We think some of these changes will be permanent."
The IFO estimates that real GDP shrank 4.1 p...