Metro Atlanta economic indicators, monthly report, Vol. 3, no. 10 (Dec. 2000)

AT L A N TA

METROPOLITAN
Economic

Indicators

A Monthly Report of Atlanta Labor Market and Economic Trends

December 2000

Volume 3, Issue 10

Georgia Department of Labor
Michael L. Thurmond Commissioner

Metro Ro ckda le

P ic k e n s Bartow Cherokee Forsyth

Cobb P a u ld in g

Gwinnett Barrow

C a r r o ll

Douglas Fulton DeKalb
Cla yton

W alton Newton

Fa ye tte
Coweta

Henry

S p ald in g

Atlanta
Economic
Indicators
Monthly Report Volume 3, Issue 10 December 2000

October 2000 Data

Cover art: Walton County Courthouse, Huey J. Theus, Mableton, Georgia

Metro Atlanta Economic Indicators is published by Workforce Information and Analysis, a division of the Georgia Department of Labor, 148 International Boulevard, Atlanta, Georgia 30303-1751. The telephone number is (404) 656-3177.

Georgia Department of Labor

Georgia Department of Labor
Michael L. Thurmond, Commissioner
Metro Atlanta Economic Indicators / December 2000 1

Introduction
Metro Atlanta Economic Indicators, Monthly Report, is designed to provide in a single publication data on
a number of indicators used to measure movement of the Atlanta Metropolitan Statistical Area's economy.
The indicators have been collected and disseminated for many years by private and governmental agencies, but not under a single cover. Contributing agencies include Georgia's Department of Labor, the U.S. Bureau of the Census, the U.S. Bureau of Labor Statistics, F.W. Dodge, McGraw-Hill Information Group, the Metropolitan Atlanta Rapid Transit Authority, Cobb Community Transit System, Smith Travel Research and HSH Associates, Financial Publishers.
All data except Average 30-Year and Average 15-Year Fixed Mortgage Rates and Average One-Year Adjustable Mortgage Rate on Page 15 and those contained in the Metropolitan Atlanta Consumer Price Index chart on page 3 are seasonally adjusted. Data are presented in graphic and tabular form. Each series shows movement over a 24-month period. Where appropriate, companion graphs and tables show data which have been deflated by the U.S. Consumer Price Index or the U.S. Construction Price Index. The purpose is to adjust for inflation and show growth in constant dollars.
The purpose of this publication is to serve the business and professional communities, economic developers, economists, educators and others who have need for information on Atlanta Metropolitan Statistical Area economic trends. Workforce Information and Analysis welcomes comments, suggestions or questions concerning Metro Atlanta Economic Indicators. Please address letters to Stephen Matta, Workforce Information and Analysis, Georgia Department of Labor, 148 International Boulevard, Atlanta, Georgia 30303-1751. The telephone number is (404) 656-3177.
Data Sources
Nonagricultural Employment, Wholesale Employment, Retail Employment, Services Employment, Manufacturing Employment, Government Employment, Construction Employment, Transportation and Public Utilities Employment, Finance, Insurance and Real Estate Employment, Business Services Employment, Health Services Employment, Social Services Employment, Manufacturing Workweek, Manufacturing Earnings, Unemployment Rate, Insured Unemployment Rate, Initial Unemployment Claims and Continued Unemployment Claims -- Georgia Department of Labor
Consumer Price Index -- U.S. Bureau of Labor Statistics, adapted from commentary by Michael Wald
Residential Construction and U.S. Construction Price Index -- U.S. Department of Commerce
Nonresidential Construction -- F.W. Dodge, McGraw-Hill Construction Information Group
MARTA Passengers -- Metropolitan Atlanta Rapid Transit System
Cobb Community Transit Passengers -- Cobb Community Transit System
Hotel Occupancy and Room Rates -- Smith Travel Research, Hendersonville, TN
Average 30-Year and Average 15-Year Fixed Mortgage Rates and Average One-Year Adjustable Mortgage Rate -- HSH Associates, Financial Publishers, Butler, NJ

2 Metro Atlanta Economic Indicators / December 2000

Georgia Department of Labor

Metro Atlanta CPI

YEAR JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Rate

1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000

61.7 66.9 76.4 87.2 92.8 97.9 102.6 107.0 111.7

58.4 62.5 68.5 78.0 88.2 92.9 98.7
103.2 107.6 111.1

159.5 161.9 167.4

160.8 164.0 169.8

59.4 63.6 70.5 80.3 89.3 96.5 100.2 104.1 108.8 112.2 115.5 119.1 124.9 130.8 135.5 138.6 142.2 146.7 150.3 154.7 158.3 162.0 164.8 170.9

64.7 71.9 81.7 91.6 98.0 100.8 104.8 109.9 112.4
161.9 165.9 172.1

60.7

61.2 7.4%

65.9

65.9 7.7%

73.2

74.0 12.3%

83.0

85.7 15.8%

93.3

93.6 9.2%

98.8

98.2 4.9%

100.9

101.9 3.8%

105.4

105.5 3.5%

110.4

111.2 5.4%

112.7

113.5 2.1%

117.5 3.5%

121.7 3.6%

127.3 4.6%

132.6 4.2%

136.2 2.7%

138.5 1.7%

144.7 4.5%

146.7 1.4%

151.5 3.3%

157.2 3.8%

159.5 1.5%

162.0

161.6 1.4%

166.5

167.0 3.3%

171.9

Source: U.S. Bureau of Labor Statistics

Atlanta CPI declined 0.1 percent since August

The Consumer Price Index for All Urban Consumers (CPI-U) for the Atlanta metropolitan area, decreased 0.1 percent from August to November, not seasonally adjusted, according to data released by the U.S. Department of Labor's Bureau of Labor Statistics. For the 12-month period ending in October, consumer prices in Atlanta increased 3.2 percent to a level of 171.9
The food and beverages index rose 0.1 percent after increasing 0.2 percent in the two months ending in August. The small change in the index reflected a 0.5 percent rise in costs for food away from home that more than offset a 0.4 percent decline in costs for food at home.
Georgia Department of Labor

The formula

Following is the formula for figur-

ing Consumer Price Index changes

from one point in time to another.

Index point change

CPI Less previous index Equals index point change

112.5 108.5
4.0

Percentage change

Index point difference

4.0

Divide by the previous index 108.5

Equals

0.037

Results multiplied by 100 0.037x100

Equals percent change

3.7%

Housing costs declined 1.0 percent after rising 0.7 percent in the JulyAugust pricing period. This was the first decline for this index in 2000.

The index dropped due to a 0.2 percent decline in the costs for shelter and a 6.2 percent drop in fuel and utilities costs as costs for electricity declined over the two months. Transportation costs rose 0.9 percent as costs for gasoline increased 2.1 percent over the two months. The higher gasoline costs were in contrast to the decline in this index during the July-August pricing period.
Other indexes reported include the medical care index that remained unchanged over the two-month period. The recreation index declined 0.6 percent in the September-October period.
The apparel index rose 1.7 percent over two months after declining 1.7 percent in July and August.

Metro Atlanta Economic Indicators / December 2000 3

Metro Atlanta Index of Economic Indicators
174.6
Leading indicators Coincident indicators
152.4

130.1

107.9

85.7

1987-88 = 100

63.5

93

94

95

96

97

98

99

00

01

Atlanta Leading Index declines 0.3 percent in October

Note: All indicators are seasonally adjusted.

***

Recent 12 Months
152.0

The Georgia Department of Labor's

Leading Coincident

Index of Leading Economic 148.0

Indicators for the Atlanta Metropolitan 144.0
Area decreased 0.3 percent in October

to a level of 143.46 from a revised 140.0

143.89, after seasonal adjustment.
136.0
Since December 1999, the Index has

1987-88 = 100

grown 1.74 percent and the growth 132.0

from October 1999 was 3.8 percent. The long running boom in the
construction industry appears to have reached a peak and is beginning to soften. Both residential and nonresidential construction declined in October, thus dampening the Leading

The Leading Index reflects activity that will impact the economy for a duration of three to six months into the future. Coincident indicators measure current conditions.

Index. The value of new,

nonresidential construction fell 11.0 off by 10 percent over September.

percent on a seasonally adjusted basis. According to the Economic Outlook

Similarly, residential construction was for 2001, published by the University

of Georgia's Selig Center for Economic Growth, construction permits will decline 17.0 percent.
Initial claims for unemployment increased to 7,486 in October.
The Index of Coincident Indicators grew 1.0 percent in October, to a level of 139.32 from a revised 137.94. Retail employment grew 0.8 percent at the start of the busy retail season, slightly exceeding expectations. Total nonagricultural employment delined from September to October by 0.1 percent, however unemployment has held steady at 2.9 percent. Productivity was off during October as hours worked dropped 0.3 percent. Earnings fell 0.1 percent for the month.

4 Metro Atlanta Economic Indicators / December 2000

Georgia Department of Labor

Data Summary
October 2000

Metro Atlanta Economic Indicators

Oct 2000

Sep 2000

Oct 1999

Percent Change Sep 2000
to Oct 2000

Percent Change Oct 1999
to Oct 2000

Nonagricultural Employment

2,234,000

Wholesale Employment

181,900

Retail Employment

407,700

Services Employment

695,400

Manufacturing Employment

227,800

Government Employment

270,600

Construction Employment

118,600

Transp. & Pub. Utilities Employment

193,100

Finance, Insurance & Realty Employment

137,900

Business Services Employment

229,100

Health Services Employment

131,300

Social Services Employment

28,251

Manufacturing Workweek

39.4

Manufacturing Earnings

$542.26

Deflated Manufacturing Earnings

$311.64

Initial Unemployment Claims

7,486

Continued Unemployment Claims

74,764

Total Unemployment Rate

2.9%

Insured Unemployment Rate

0.68%

MARTA Passengers

6,436,000

Cobb County Transit Passengers

135,960

Residential Construction (household units)

4,702

Nonresidential Construction (value)

$368,027,000

Deflated Nonresidential Construction

$376,202,091

Hotel Occupancy

66.4%

Average Hotel Room Rates

$79.31

Deflated Average Hotel Room Rate

$45.58

Average 30-Year Fixed Mortgage Rate

7.81%

Average 15-Year Fixed Mortgage Rate

7.48%

Average One-Year Adjustable Mortgage Rate

7.14%

Georgia Department of Labor

2,237,000 182,100 404,500 696,000 228,100 270,800 119,700 193,500 138,600 231,400 130,900 28,021 39.5 $542.67 $312.42 7,010 63,139 2.9% 0.69%
6,447,000 131,608 5,209
$431,880,000 $201,101,222
66.8% $80.63 $46.42 7.95% 7.63% 7.34%

2,185,000 179,100 396,200 678,600 226,500 264,200 117,100 186,300 137,400 232,500 126,100 26,541 40.3 $537.19 $319.38 6,425 54,278 3.1% 0.65%
6,335,000 125,974 4,716
$269,211,000 $272,403,968
66.9% $80.30 $47.28 7.86% 7.78% 6.36%

-0.13 -0.11 0.79 -0.09 -0.13 -0.07 -0.92 -0.21 -0.51 -0.99 0.31 0.82 -0.25 -0.08 -0.25 6.79 18.41
-0.17 3.31 -9.73 -14.78 87.07 -1.64 -1.81 -

2.24 1.56 2.90 2.48 0.57 2.42 1.28 3.65 0.36 -1.46 4.12 6.44 -2.23 0.94 -2.42 16.51 37.74
1.59 7.93 -0.30 36.71 38.10 -1.23 -3.60 -

Metro Atlanta Economic Indicators / December 2000 5

Nonagricultural Employment

2.3

1998-99

1999-2000

MILLIONS

2.3

Monthly Data

Seasonally Adjusted

Month

1998-99 1999-2000

2.2

Nov

2,078,000

2,192,000

Dec

2,081,000

2,197,000

Jan

2,096,000

2,206,000

2.1

Feb

2,107,000

2,207,000

M ar

2,115,000

2,218,000

Apr

2,126,000

2,227,000

M ay

2,137,000

2,232,000

2.1

Jun

2,146,000

2,226,000

Jul

2,155,000

2,238,000

Aug

2,167,000

2,234,000

Sep

2,173,000

2,237,000

2.0

Oct

N

D

J

F

M

A

M

J

J

A

S

O

2,185,000

2,234,000

Wholesale Employment

186.6

1998-99

1999-2000

THOUSANDS

182.8

Monthly Data
Seasonally Adjusted

178.9

Month

Nov

Dec

Jan

175.0

Feb

M ar

Apr

M ay

171.2

Jun

Jul

Aug

Sep

167.3

Oct

N

D

J

F

M

A

M

J

J

A

S

O

1998-99
172,000 172,200 173,300 173,700 174,400 175,200 176,200 176,500 177,600 178,400 179,000 179,100

1999-2000
179,500 179,500 178,900 179,400 179,700 180,300 180,700 181,200 181,200 181,400 182,100 181,900

Retail Employment

425.7

1998-99

1999-2000

411.1

Monthly Data
Seasonally Adjusted

THOUSANDS

396.5

381.9

367.3

352.7

N

D

J

F

M

A

M

J

Month

Nov

Dec

Jan

Feb

M ar

Apr

M ay

Jun

Jul

Aug

Sep

Oct

J

A

S

O

1998-99
373,200 372,400 375,600 378,400 379,300 379,100 382,600 385,100 387,300 390,800 392,100 396,200

1999-2000
397,200 397,800 402,300 402,400 404,000 406,900 405,700 405,100 407,700 404,900 404,500 407,700

6 Metro Atlanta Economic Indicators / December 2000

Georgia Department of Labor

Services Employment

738.2

1998-99

1999-2000

706.5

Monthly Data
Seasonally Adjusted

THOUSANDS

674.9

Month

1998-99

1999-2000

Nov

620,300

682,000

Dec

621,600

685,300

Jan

632,300

684,200

643.2

Feb

636,300

685,700

M ar

643,700

688,600

Apr

651,500

690,200

M ay

655,700

690,800

611.5

Jun

660,900

691,100

Jul

663,600

694,800

Aug

670,100

693,600

Sep

670,900

696,000

579.9

Oct

N

D

J

F

M

A

M

J

J

A

S

O

678,600

695,400

Manufacturing Employment

229.5

1998-99 1999-2000

THOUSANDS

228.6

Monthly Data
Seasonally Adjusted

227.7

226.8

225.9

225.0

N

D

J

F

M

A

M

J

Month

Nov

Dec

Jan

Feb

M ar

Apr

M ay

Jun

Jul

Aug

Sep

Oct

J

A

S

O

1998-99
226,900 226,600 226,200 226,600 226,400 227,100 227,400 227,500 226,900 226,500 226,300 226,500

1999-2000
226,800 226,900 227,400 227,900 227,800 228,300 228,200 228,300 227,600 227,700 228,100 227,800

Government Employment

278.7

1998-99 1999-2000

THOUSANDS

273.1

Monthly Data
Seasonally Adjusted

267.6

262.0

256.4

250.9

N

D

J

Month

Nov Dec Jan Feb M ar Apr M ay Jun Jul Aug Sep Oct

F

M

A

M

J

J

A

S

O

1998-99
261,800 261,300 261,900 260,100 258,800 258,400 257,900 258,400 260,700 260,600 263,800 264,200

1999-2000
264,500 265,900 267,100 268,800 270,700 272,400 272,300 272,400 272,000 271,500 270,800 270,600

Georgia Department of Labor

Metro Atlanta Economic Indicators / December 2000 7

Construction Employment

128.0

1998-99 1999-2000

THOUSANDS

122.4

Monthly Data
Seasonally Adjusted

Month

1998-99

1999-2000

116.8

Nov

106,600

117,400

Dec

108,000

117,700

Jan

109,600

118,200

111.2

Feb

111,100

117,500

M ar

111,500

118,600

Apr

112,900

117,900

M ay

113,400

118,800

105.5

Jun

114,100

118,000

Jul

114,800

119,600

Aug

114,700

120,500

Sep

115,600

119,700

99.9

Oct

N

D

J

F

M

A

M

J

J

A

S

O

117,100

118,600

Transportation and Public Utilities Employment

200.4

1998-99

1999-2000

THOUSANDS

194.9

Monthly Data
Seasonally Adjusted

189.5

Month 1998-99

1999-2000

Nov

180,600

186,700

Dec

180,100

187,900

Jan

181,300

188,000

184.1

Feb

181,600

190,000

M ar

182,900

189,800

Ap r

183,300

190,400

M ay

183,400

191,500

178.7

Jun

184,300

191,200

Jul

185,000

192,200

Aug

185,600

193,500

Sep

186,100

193,500

173.3

Oct

N

D

J

F

M

A

M

J

J

A

S

O

186,300

193,100

Finance, Insurance and Realty Employment

140.7

1998-99

1999-2000

139.6

Monthly Data
Seasonally Adjusted

THOUSANDS

138.4

Month

1998-99

1999-2000

Nov

136,300

137,600

Dec

136,900

137,400

137.2

Jan

136,200

138,400

Feb

136,900

137,900

M ar

136,800

138,000

Apr

136,500

138,100

136.1

M ay Jun Jul

137,100 136,900 136,900

137,900 138,100 139,000

Aug

136,800

138,900

Sep

137,100

138,600

134.9

Oct

N

D

J

F

M

A

M

J

J

A

S

O

137,400

137,900

8 Metro Atlanta Economic Indicators / December 2000

Georgia Department of Labor

Business Services Employment

248.0

1998-99

1999-2000

237.0

Monthly Data
Seasonally Adjusted

THOUSANDS

226.1

Month

Nov

Dec

Jan

215.1

Feb

M ar

Apr

M ay

204.1

Jun

Jul

Aug

Sep

193.2

Oct

N

D

J

F

M

A

M

J

J

A

S

O

1998-99
209,100 213,500 218,000 220,600 220,400 222,600 223,000 225,800 226,700 230,100 229,300 232,500

1999-2000
234,700 234,000 230,500 230,100 231,400 232,200 230,100 228,500 231,200 230,600 231,400 229,100

Health Services Employment

138.6

1998-99

1999-2000

THOUSANDS

132.5

Monthly Data
Seasonally Adjusted

126.4

120.3

114.2

108.1

N

D

J

F

M

A

M

J

Month

Nov Dec Jan Feb M ar Apr M ay Jun Jul Aug Sep Oct

J

A

S

O

1998-99
114,700 114,700 116,400 116,000 118,500 120,400 123,100 123,500 123,900 124,400 124,800 126,100

1999-2000
125,900 126,900 127,600 128,200 128,000 128,400 128,800 128,700 129,400 129,600 130,900 131,300

Social Services Employment
30.3 1998-99 1999-2000

THOUSANDS

28.6

Monthly Data

Seasonally Adjusted

26.9

25.2

23.5

21.7

N

D

J

Month

Nov Dec Jan Feb M ar Apr M ay Jun Jul Aug Sep Oct

F

M

A

M

J

J

A

S

O

1998-99
23,835 24,208 24,546 24,898 25,168 25,355 25,452 25,584 25,625 25,666 26,117 26,541

1999-2000
26,936 26,912 27,309 27,439 27,262 27,020 27,360 27,110 27,553 27,704 28,021 28,251

Georgia Department of Labor

Metro Atlanta Economic Indicators / December 2000 9

Manufacturing Workweek

42.6

1998-99

1999-2000

HOURS

41.8

Monthly Data

Seasonally Adjusted

40.9

40.0

39.2

38.3

N

D

J

F

M

A

M

J

Month

Nov

Dec

Jan

Feb

M ar

Apr

M ay

Jun

Jul

Aug

Sep

Oct

J

A

S

O

1998-99
41.6 41.5 41.0 41.2 41.1 41.0 41.2 40.9 41.1 40.6 40.8 40.3

1999-2000
40.7 40.2 40.5 40.4 40.6 40.3 40.0 40.0 39.5 39.8 39.5 39.4

Manufacturing Earnings

$566

1998-99

1999-2000

DOLLARS

$556

Monthly Data
Seasonally Adjusted

$546

$536

$526

$516

N

D

J

F

M

A

M

J

Month

Nov Dec Jan Feb M ar Apr M ay Jun Jul Aug Sep Oct

J

A

S

O

1998-99
$ 535.22 530.85 526.99 535.77 539.08 540.37 543.74 544.32 547.01 540.48 545.39 537.19

1999-2000
$ 551.58 546.88 553.78 549.09 552.94 548.03 542.11 545.11 542.15 551.11 542.67 542.26

Deflated Manufacturing Earnings

$335

1998-99 1999-2000

DOLLARS

$329

Monthly Data
Seasonally Adjusted

$323

$317

$311

$305

N

D

J

F

M

A

M

J

Month

Nov

Dec

Jan

Feb

M ar

Apr

M ay

Jun

Jul

Aug

Sep

Oct

J

A

S

O

1998-99
$ 326.35 323.89 320.75 325.70 326.72 325.13 327.16 327.51 328.14 323.45 324.83 319.38

1999-2000
$ 327.74 324.94 328.26 323.57 323.17 320.11 316.47 316.37 314.11 318.93 312.42 311.64

10 Metro Atlanta Economic Indicators / December 2000

Georgia Department of Labor

Initial Unemployment Claims
8.3 1998-99 1999-2000

THOUSANDS

7.7

Monthly Data

Seasonally Adjusted

7.1

6.5

5.9

5.3

N

D

J

F

M

A

M

J

Month

Nov Dec Jan Feb M ar Apr M ay Jun Jul Aug Sep Oct

J

A

S

O

1998-99
6,373 6,496 6,597 6,346 6,951 6,896 6,018 6,037 6,755 6,088 6,173 6,425

1999-2000
6,729 6,256 6,466 7,117 6,335 6,347 7,246 7,494 6,766 7,628 7,010 7,486

Continued Unemployment Claims
87.0 1998-99 1999-2000

THOUSANDS

76.8

Monthly Data

Seasonally Adjusted

66.6

56.4

46.2

36.0

N

D

J

F

M

A

M

J

Month

Nov Dec

Jan Feb

M ar Apr

M ay Jun

Jul Aug

Sep Oct

J

A

S

O

1998-99
55,138 48,484 47,938 51,938 55,152 53,391 52,107 57,101 48,203 58,955 54,756 54,278

1999-2000
61,253 51,204 60,146 56,061 47,832 55,728 57,415 52,908 63,438 56,485 63,139 74,764

Total Unemployment Rate
3.4 1998-99 1999-2000

PERCENTAGES

3.2

Monthly Data

Seasonally Adjusted

3.1

2.9

2.8

2.6

N

D

J

F

M

A

M

J

Month

Nov Dec Jan Feb M ar Apr M ay Jun Jul Aug Sep Oct

J

A

S

O

1998-99
3.2 % 3.0 3.1 3.1 3.1 3.2 3.2 3.1 3.1 3.2 3.1 3.1

1999-2000
3.0 % 3.0 2.9 2.8 2.9 2.9 2.9 2.9 2.9 2.9 2.9 2.9

Georgia Department of Labor

Metro Atlanta Economic Indicators / December 2000 11

iInsured Unemployment Rate
0.73 1998-99 1999-2000

0.70

Monthly Data

Seasonally Adjusted

PERCENTAGES

Month

1998-99

1999-2000

0.67

Nov

0.60 %

0.64 %

Dec

0.62

0.65

Jan

0.62

0.66

0.63

Feb

0.64

0.63

M ar

0.64

0.63

Apr

0.63

0.64

M ay

0.63

0.65

0.60

Jun

0.62

0.66

Jul

0.62

0.65

Aug

0.64

0.68

Sep

0.63

0.69

0.56

Oct

N

D

J

F

M

A

M

J

J

A

S

O

0.65

0.68

MMARTA Passengers

7.3 1998-99 1999-2000

MILLIONS

7.0

Monthly Data

Seasonally Adjusted

6.6

6.3

6.0

5.6

N

D

J

F

M

A

M

J

Month

Nov Dec Jan Feb M ar Apr M ay Jun Jul Aug Sep Oct

J

A

S

O

1998-99
6,577,000 6,816,000 6,276,000 6,460,000 6,467,000 6,374,000 6,192,000 6,074,000 6,243,000 6,233,000 6,345,000 6,335,000

1999-2000
6,795,000 6,509,000 6,460,000 6,657,000 6,674,000 6,326,000 6,636,000 6,914,000 6,153,000 6,644,000 6,447,000 6,436,000

Cobb Community Transit Passengers

160.8

1998-99

1999-2000

147.8

Monthly Data
Seasonally Adjusted

THOUSANDS

134.8

121.9

108.9

95.9

N

D

J

F

M

A

M

J

Month

Nov Dec Jan Feb M ar Apr M ay Jun Jul Aug Sep Oct

J

A

S

O

1998-99
117,510 111,422 110,131 116,461 112,472 112,213 111,082 121,383 121,236 136,857 134,843 125,974

1999-2000
127,341 140,163 134,339 138,117 139,384 142,783 142,183 139,838 131,064 132,769 131,608 135,960

12 Metro Atlanta Economic Indicators / December 2000

Georgia Department of Labor

Residential Construction
6.3 1998-99 1999-2000

HOUSEHOLD UNITS

5.8

Monthly Data

Seasonally Adjusted

Month

5.4

Nov

Dec

Jan

4.9

Feb

M ar

Apr

M ay

4.5

Jun

Jul

Aug

Sep

4.0

Oct

N

D

J

F

M

A

M

J

J

A

S

O

Nonresidential Construction

$652

1998-99 1999-2000

1998-99
5,345 5,580 4,736 5,145 4,675 4,687 4,752 4,697 4,808 4,631 4,587 4,716

1999-2000
4,998 4,894 5,583 5,306 5,425 5,671 5,631 5,479 5,238 4,991 5,209 4,702

MILLIONS

$542

Monthly Data
Seasonally Adjusted

$433

Month

1998-99 1999-2000

Nov

$ 386,341,000 $ 270,843,000

Dec

274,583,000

303,886,000

Jan

377,733,000

314,823,000

$324

Feb

343,746,000

287,489,000

M ar

521,270,000

332,152,000

Apr

373,702,000

338,760,000

M ay

330,102,000

351,962,000

$214

Jun

318,557,000

482,862,000

Jul

384,446,000

290,145,000

Aug

340,050,000

230,462,000

Sep

302,096,000

431,880,000

$105

Oct

N

D

J

F

M

A

M

J

J

A

S

O

269,211,000

368,027,000

Deflated Nonresidential Construction

$602

1998-99

1999-2000

$501

Monthly Data
Seasonally Adjusted

MILLIONS

$400

Month

1998-99

1999-2000

Nov

$331,573,832

$241,661,580

Dec

359,721,601

242,040,214

Jan

254,479,147

270,601,959

$298

Feb

348,141,014

279,098,404

Mar

316,524,862

254,190,097

Apr

478,668,503

293,161,518

May

341,904,849

297,418,788

$197

Jun

300,639,344

308,197,898

Jul

288,548,007

421,713,537

Aug

347,600,362

252,959,895

Sep

306,904,332

201,101,222

$96

Oct

N

D

J

F

M

A

M

J

J

A

S

O

272,403,968

376,202,091

Georgia Department of Labor

Metro Atlanta Economic Indicators / December 2000 13

Hotel Occupancy

69.2

1998-99

1999-2000

67.5

Monthly Data

Seasonally Adjusted

PERCENTAGES

65.8

64.1

62.4

60.7

N

D

J

F

M

A

M

J

Average Hotel Room Rates

$91 1998-99 1999-2000

Month

Nov Dec Jan Feb M ar Apr M ay Jun Jul Aug Sep Oct

J

A

S

O

1998-99
64.50 % 64.90 65.50 65.80 65.70 66.60 66.80 64.20 65.00 63.40 66.50 66.90

1999-2000
66.40 % 65.30 66.30 64.00 64.20 62.60 63.90 66.00 66.00 66.20 66.80 64.40

DOLLARS

$87

Monthly Data

Seasonally Adjusted

Month $84

Nov

Dec

Jan

$80

Feb

M ar

Apr

M ay

$77

Jun

Jul

Aug

Sep

$73

Oct

N

D

J

F

M

A

M

J

J

A

S

O

1998-99
$79.70 78.81 83.72 79.93 79.54 79.58 77.07 79.23 76.96 77.90 79.53 80.30

1999-2000
$ 80.30 84.79 85.47 82.46 79.53 79.67 80.89 77.82 79.08 81.69 80.63 79.31

Deflated Average Hotel Room Rates
$54
1998-99 1999-2000

$52

Monthly Data

Seasonally Adjusted

DOLLARS

Month $49

Nov

Dec

Jan

$47

Feb

M ar

Apr

M ay

$45

Jun

Jul

Aug

Sep

$42

Oct

N

D

J

F

M

A

M

J

J

A

S

O

1998-99
$ 48.18 48.63 47.97 50.89 48.44 47.86 47.88 46.37 47.53 46.06 46.40 47.28

1999-2000
$47.71 50.38 50.66 48.59 46.48 46.54 47.22 45.17 45.82 47.27 46.42 45.58

14 Metro Atlanta Economic Indicators / December 2000

Georgia Department of Labor

Average 30-Year Fixed Mortgage Rate*
9.37 1998-99 1999-2000

8.68
Monthly Data
Not Seasonally Adjusted

PERCENTAGES

7.98

Month

Nov

Dec

Jan

7.29

Feb

M ar

Apr

M ay

6.59

Jun

Jul

Aug

Sep

5.90

Oct

N

D

J

F

M

A

M

J

J

A

S

O

* Does not include points

Average 15-Year Fixed Mortgage Rate*

9.10 1998-99 1999-2000

1998-99
6.91 6.72 6.78 6.79 7.00 6.89 7.09 7.56 7.68 8.03 7.90 7.86

1999-2000
7.72 8.04 8.19 8.37 8.28 8.12 8.55 8.26 8.16 8.04 7.95 7.81

8.38

PERCENTAGES

7.66

6.95

6.23

5.51

N

D

J

F

M

A

M

J

J

A

S

O

* Does not include points

Average One-Year Adjustable Mortgage Rate*

8.28

1998-99

1999-2000

Monthly Data
Not Seasonally Adjusted

Month

1998-99

Nov

6.42

Dec

6.39

Jan

6.34

Feb

6.35

M ar

6.58

Apr

6.47

M ay

6.69

Jun

7.17

Jul

7.23

Aug

7.55

Sep

7.48

Oct

7.45

1999-2000
7.35 7.65 7.78 7.96 7.87 7.78 8.27 8.01 7.87 7.78 7.63 7.48

7.51

Monthly Data

Not Seasonally Adjusted

PERCENTAGES

Month

6.73

Nov

Dec

Jan

5.96

Feb

M ar

Apr

M ay

5.19

Jun

Jul

Aug

Sep

4.42

Oct

N

D

J

F

M

A

M

J

J

A

S

O

* Does not include points

1998-99
5.42 5.37 5.32 5.34 5.44 5.52 5.59 5.87 5.98 5.73 6.30 6.36

1999-2000
6.30 6.51 6.72 6.93 6.90 6.82 6.64 7.22 7.26 7.35 7.34 7.14

Georgia Department of Labor

Metro Atlanta Economic Indicators / December 2000 15

To receive a free subscription to this publication, please complete and mail this form

Mail to:

If you prefer, you may e-mail your request to stephen.matta@dol.state.ga.us
Stephen Matta Workforce Information and Analysis Georgia Department of Labor 148 International Boulevard N.E. Atlanta, Georgia 30303-1751

Please add my name to your mailing list for Metro Atlanta Economic Indicators.

Name Company / Agency Address City

State

Zip Code