Economy

Pennsylvania unemployment rate declines to six-year low 5.4% in October

On Nov. 25, the Pennsylvania Department of Labor & Industry released its employment situation report for October. Pennsylvania’s unemployment rate declined by three-tenths of a percentage point from September to 5.4 percent — a six-year low. The commonwea

Wayne County Public Library benefits from EITC donation

First National Community Bank (FNCB) announced a $2,500 donation to the Wayne County Public Library through the Education Improvement Tax Credit (EITC) program. The donation will be used to fund innovative educational programs for K-12 students in the Wes

FNCB ‘Jeans for a Cause’ benefits CEO Food 4 Kids; November donation helps fund after school program

First National Community Bank (FNCB) recently raised $1035 for the Commission on Economic Opportunity’s (CEO) Food 4 Kids after school program with proceeds from a bank wide “Jeans for a Cause” dress down day in November. The fund-raising effort encourage

Geisinger says its community benefit reaches $414.1 million for FY 13; approximately $2.6 billion in community benefit since FY 2001

Geisinger Health System said its analysis shows it provided $414.1 million in community support in fiscal year 2013 in the form of free, uncompensated care to patients who could not afford to pay; the provision of care for the elderly and the poor not pai

Rasmussen Reports: Most Americans think retailers start holiday shopping season too early

Survey of 1,000 American adults Walking through any malls or stores across the country right now probably yields a familiar sight — Christmas trees, holiday music and seasonal decorations, and they’ve probably been there since Halloween. But how soon is t

140 million holiday shoppers likely to take advantage of Thanksgiving weekend deals in stores and online, according to NRF

According to NRF’s Thanksgiving Weekend Expectations survey conducted by Prosper Insights & Analytics, which provides a preliminary look at shopping expectations over Thanksgiving weekend, six in 10 (61.1 percent) say they will or may shop either Thursday

Liquor licensees now able to get 10% discount on products sold at PLCB eCommerce Store

In an effort to make shopping more convenient for licensees, the Pennsylvania Liquor Control Board announced a change to the agency’s retail website, www.FineWineAndGoodSpirits.com, that will give licensees the ability to easily utilize their 10 percent d

Philadelphia Federal Reserve Bank representative presents study on benefits of pre-purchase homeownership counseling

Philadelphia Federal Reserve Bank representative Marty Smith presented a study on the benefits of pre-purchase homeownership counseling during the Lackawanna County Housing Coalition’s monthly meeting. The study aimed to answer a central question: what is

Edison Awards adds dental category, now accepting entries from innovators in the dental community. Deadline: Dec. 5.

The prestigious Edison Awards — which have recognized advances such as the Apple ipad; Keurig Vue single cup brewing system; and OnStar For My Vehicle (FMV) — added a dental category for 2015. That means groundbreaking discoveries in dentistry and their c

ICBA to Congress: Pass bipartisan regulatory relief before adjourning; consensus bills benefitting Main Street communities still pending

The Independent Community Bankers of America (ICBA) is calling on Congress to enact bipartisan regulatory and tax relief for community banks before the close of the 113th Congress. In a letter to House and Senate leaders, ICBA said using the lame-duck ses

Independent Fiscal Office releases its analysis of Pennsylvania’s long-term economic and budget outlook

Independent Fiscal Office Director Matthew Knittel announced on Nov. 13 the release of the office’s updated long-term economic and budget outlook. The report, entitled Pennsylvania’s Economic & Budget Outlook: Fiscal Years 2014-15 to 2019-20, is available

Holiday shoppers to spend more than $31 billion on gift cards this year, according to NRF; Most cite practicality as reason to choose cards

The growth in gift card popularity is irrefutable, and this holiday season spending on tiny plastic or digital gift cards will top all previous records. According to NRF’s Gift Card Spending Survey, the average person buying gift cards will spend $172.74,

Bargain hunters will hold out for hot holiday deals, according to NRF

Procrastinators and bargain hunters alike are taking their time getting started with their holiday shopping bonanza, possibly to take advantage of deeper discounts over Thanksgiving weekend and late in the season. According to NRF’s Holiday Consumer Spend

New Libor fees would be waived for most community banks

The Independent Community Bankers of America (ICBA) on Nov. 12 said a new fee schedule released by the Intercontinental Exchange (ICE) will waive or sharply reduce fees for 99 percent of community banks that use or reference the London Interbank Offered R

Pennsylvania Liquor Control Board paid $42 million in store rent in fiscal year 2013-14

The Pennsylvania Liquor Control Board (PLCB) on Nov. 10 released its fiscal year 2013-14 annual report. The 70-page report provides detailed information on each area of the PLCB’s operations, such as licensing, marketing, supply chain and retail operation

NEPIRC: Manufacturers report more than $134 million in revenue, $12.6 million in profits

The Northeastern Pennsylvania Industrial Resource Center (NEPIRC) board of directors recently released the results of NEPIRC’s operations for its 2013-2014 fiscal year, citing client impacts of over $134 million in new and retained revenues, $12.6 million

Retail imports set records despite continuing West Coast port issues

Import cargo volume at the nation’s major retail container ports is expected to slow down this month following record levels seen in September and October as retailers rushed to bring merchandise into the country ahead of a possible shutdown of West Coast

Local projects receive federal funds to improve transportation alternatives

Fifty-six projects to improve transportation alternatives are in line for $33 million in federal funds, PennDOT Secretary Barry J. Schoch announced. Transportation alternative projects enhance pedestrian and bicycle facilities, improve access to public tr

WalletHub releases ‘11 ways the 2014 elections will impact your wallet’

By John S Kiernan 2014 Elections And Your Wallet With the midterm elections over and Congress now firmly in the Republican Party’s control, President Obama must face his final two years in office with little legislative support. While it remains to be see

Ahead of Veterans Day, ICBA and SHCPF provide tips to protect elderly veterans from financial abuse

In preparation for Veterans Day Nov. 11, the Independent Community Bankers of America (ICBA) and the Senior Housing Crime Prevention Foundation (SHCPF) have banned together to provide tips on preventing financial abuse for our nation’s elder veterans and