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. 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