Metro Atlanta economic indicators, monthly report, Vol. 3, no. 11 (Jan. 2001)

AT L A N TA

METROPOLITAN
Economic

Indicators

A Monthly Report of Atlanta Labor Market and Economic Trends

January 2001

Volume 3, Issue 11

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 11 January 2001

November 2000 Data

Cover art: Margaret Mitchell House, 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
Michael L. Thurmond, Commissioner An Equal OpportunityEmployer/Programs Auxiliary Aids and Services Available Upon Request to Individuals With Disabilities

Georgia Department of Labor

Metro Atlanta Economic Indicators / January 2001

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 / January 2001

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

171.9 2.9%

Source: U.S. Bureau of Labor Statistics

Atlanta CPI remains unchanged since October

The Consumer Price Index for All Urban Consumers (CPI-U) for the Atlanta metropolitan area, was unchanged for the two month period ending in December, 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 December, consumer prices in Atlanta increased 2.9 percent. Over the two months, higher costs for housing and other goods and services were offset by lower costs for apparel and transportation. Energy prices declined 1.2 percent over the two months as higher costs for household fuels were more than offset by lower costs for motor
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%

fuels. Food costs increased 0.2 percent.
Excluding food and energy, the CPI-U for Atlanta decreased 0.1

percent since October which resulted in an advance of 2.1 for the twelve month period. Among the major index groups, the food and beverages index rose 0.2 percent since October, as costs for food away from home increased 1.1 percent. Food at home decreased 0.4 percent. Housing costs advanced 0.2 percent, reversing the 1.0 percent decline recorded in the previous pricing period. The increase was due to higher fuels and utilities costs, which rose 2.5 percent over the two months.
Transportation costs dropped 0.6 percent, as pump prices declined during the two months.
Medical care costs advanced 1.1 percent over the two-month period.

Metro Atlanta Economic Indicators / January 2001

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 0.1 percent in November

Note: All indicators are seasonally adjusted.

***

152.0

The Georgia Department of Labor's

Recent 12 Months
Leading Coincident

Index of Leading Economic 148.0

Indicators for the Atlanta Metropolitan 144.0
Area decreased 0.1 percent in

November, to a level of 144.1 from a 140.0

revised 144.2, after seasonal 136.0
adjustment. Since December 1999,

1987-88 = 100

the Index has grown 2.1 percent and 132.0

the growth from November 1999 was 3.8 percent.
Concern of economic slowdown is the topic of the day for many industries. Data for November suggests that the metropolitan Atlanta economy continues to remain stable,

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.

though some sectors have begun

showing signs of weakness.

declined from 39.7 to 39.2. In line

Productivity softened during the with that, earnings were off by 0.4

month, as average weekly hours percent and manufacturing

employment declined 0.3 percent. Total payroll employment dropped 0.2 percent for the month and initial claims grew by 3.7 percent.
Housing starts climbed to 5,294 in November, suggesting the construction industry will continue to thrive for a few months despite the drop in nonresidential construction. The value of construction spending on nonresidential projects fell for a second consecutive month, to a level of $259.5 million.
The Index of Coincident Indicators grew 0.6 percent in November, to a level of 140.26 from a revised 139.46.
The area's unemployment rate declined to 2.6% for November, after seasonal adjustment.

4 Metro Atlanta Economic Indicators / January 2001

Georgia Department of Labor

Data Summary
November 2000

Metro Atlanta Economic Indicators

Nov 2000

Oct 2000

Nov 1999

Percent Change Oct 2000
to Nov 2000

Percent Change Nov 1999
to Nov 2000

Nonagricultural Employment

2,228,000

Wholesale Employment

181,000

Retail Employment

407,900

Services Employment

695,600

Manufacturing Employment

226,800

Government Employment

266,200

Construction Employment

117,500

Transp. & Pub. Utilities Employment

194,100

Finance, Insurance & Realty Employment

138,400

Business Services Employment

224,200

Health Services Employment

131,700

Social Services Employment

28,495

Manufacturing Workweek

39.2

Manufacturing Earnings

$553.31

Deflated Manufacturing Earnings

$317.81

Initial Unemployment Claims

7,842

Continued Unemployment Claims

57,939

Total Unemployment Rate

2.6%

Insured Unemployment Rate

0.69%

MARTA Passengers

6,485,000

Cobb County Transit Passengers

141,601

Residential Construction (household units)

5,294

Nonresidential Construction (value)

$259,515,000

Deflated Nonresidential Construction

$223,527,132

Hotel Occupancy

66.3%

Average Hotel Room Rates

$79.83

Deflated Average Hotel Room Rate

$45.85

Average 30-Year Fixed Mortgage Rate

7.79%

Average 15-Year Fixed Mortgage Rate

7.45%

Average One-Year Adjustable Mortgage Rate

7.06%

Georgia Department of Labor

2,232,000 181,400 409,700 694,600 227,500 267,800 118,000 193,500 138,400 227,100 130,800 28,260 39.7 $555.53 $319.27 7,564 59,309 2.8% 0.68%
6,440,000 135,589 4,694
$355,827,000 $307,277,202
64.6% $78.95 $45.37 7.81% 7.48% 7.14%

2,192,000 179,700 396,800 682,100 226,900 265,100 117,500 186,200 137,600 235,000 126,000 26,901 40.8 $550.81 $327.28 6,530 60,880 3.0% 0.63%
6,767,000 125,310 4,999
$280,502,000 $250,672,029
66.8% $82.31 $48.91 7.72% 7.35% 6.30%

-0.18 -0.22 -0.44 0.14 -0.31 -0.60 -0.42 0.31 0.00 -1.28 0.69 0.83 -1.26 -0.40 -0.46 3.68 -2.31
0.70 4.43 12.78 -27.07 -27.26 1.11 1.06 -

1.64 0.72 2.80 1.98 -0.04 0.41 0.00 4.24 0.58 -4.60 4.52 5.93 -3.92 0.45 -2.89 20.09 -4.83
-4.17 13.00 5.90 -7.48 -10.83 -3.01 -6.26 -

Metro Atlanta Economic Indicators / January 2001 5

Nonagricultural Employment
2.3 1998-99 1999-2000

MILLIONS

2.3

Monthly Data

Seasonally Adjusted

2.2

2.1

2.1

2.0

D

J

F

M

A

M

J

Month

Dec

Jan

Feb

M ar

Apr

M ay

Jun

Jul

Aug

Sep

Oct

Nov

J

A

S

O

N

1998-99
2,081,000 2,097,000 2,107,000 2,115,000 2,125,000 2,136,000 2,146,000 2,155,000 2,167,000 2,173,000 2,185,000 2,192,000

1999-2000
2,197,000 2,207,000 2,207,000 2,217,000 2,226,000 2,231,000 2,226,000 2,238,000 2,234,000 2,237,000 2,232,000 2,228,000

Wholesale Employment

185.9

1998-99 1999-2000

THOUSANDS

182.3

Monthly Data
Seasonally Adjusted

178.7

Month

Dec

Jan

Feb

175.2

M ar

Apr

M ay

Jun

171.6

Jul

Aug

Sep

Oct

168.0

Nov

D

J

F

M

A

M

J

J

A

S

O

N

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

1999-2000
179,600 178,900 179,600 179,700 180,300 179,900 181,100 181,100 181,200 181,200 181,400 181,000

Retail Employment

425.7

1998-99 1999-2000

411.7

Monthly Data
Seasonally Adjusted

THOUSANDS

397.7

Month

Dec

Jan

Feb

383.7

M ar

Apr

M ay

Jun

369.7

Jul

Aug

Sep

Oct

355.7

Nov

D

J

F

M

A

M

J

J

A

S

O

N

1998-99
372,400 375,700 378,500 379,300 379,100 382,500 385,100 387,300 390,800 392,100 396,500 396,800

1999-2000
397,900 402,400 402,500 404,000 406,800 405,600 405,100 407,700 404,900 404,500 409,700 407,900

6 Metro Atlanta Economic Indicators / January 2001

Georgia Department of Labor

Services Employment

738.2

1998-99

1999-2000

706.5

Monthly Data
Seasonally Adjusted

THOUSANDS

674.9

643.2

611.5

579.9

D

J

F

M

A

M

J

Month

Dec

Jan

Feb

M ar

Apr

M ay

Jun

Jul

Aug

Sep

Oct

Nov

J

A

S

O

N

1998-99
621,600 632,300 636,400 643,800 651,600 655,800 660,900 663,600 669,900 670,700 678,600 682,100

1999-2000
685,300 684,200 685,700 688,600 690,300 690,900 691,200 694,700 693,500 695,800 694,600 695,600

Manufacturing Employment

229.5

1998-99 1999-2000

THOUSANDS

228.6

Monthly Data
Seasonally Adjusted

227.7

Month

Dec

Jan

Feb

226.9

M ar

Apr

M ay

Jun

226.0

Jul

Aug

Sep

Oct

225.1

Nov

D

J

F

M

A

M

J

J

A

S

O

N

1998-99
226,600 226,200 226,700 226,400 227,100 227,400 227,500 226,900 226,500 226,300 226,400 226,900

1999-2000
226,900 227,400 228,000 227,800 228,300 228,200 228,300 227,600 227,700 228,100 227,500 226,800

Government Employment

278.7

1998-99 1999-2000

THOUSANDS

273.1

Monthly Data
Seasonally Adjusted

267.6

Month

Dec

Jan

Feb

262.0

M ar

Apr

M ay

Jun

256.4

Jul

Aug

Sep

Oct

250.9

Nov

D

J

F

M

A

M

J

J

A

S

O

N

1998-99
261,500 262,100 260,200 258,900 258,300 257,800 258,300 260,500 260,100 263,100 264,300 265,100

1999-2000
266,200 267,500 269,000 270,800 272,300 271,900 270,300 269,500 270,900 270,100 267,800 266,200

Georgia Department of Labor

Metro Atlanta Economic Indicators / January 2001 7

Construction Employment

126.3

1998-99

1999-2000

THOUSANDS

121.5

Monthly Data
Seasonally Adjusted

Month

1998-99

1999-2000

116.7

Dec

108,100

117,900

Jan

109,600

118,300

Feb

111,200

117,600

111.8

M ar

111,500

118,700

Apr

112,900

117,900

M ay

113,400

118,800

Jun

114,000

117,900

107.0

Jul

114,600

119,400

Aug

114,600

120,400

Sep

115,400

119,400

Oct

117,100

118,000

102.2

Nov

D

J

F

M

A

M

J

J

A

S

O

N

117,500

117,500

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

Dec

Jan

Feb

184.1

M ar

Apr

M ay

Jun

178.7

Jul

Aug

Sep

Oct

173.3

Nov

D

J

F

M

A

M

J

J

A

S

O

N

180,600 180,100 181,300 181,600 182,900 183,300 183,400 184,400 185,000 185,600 186,100 186,200

186,600 187,900 188,000 190,000 189,800 190,400 191,500 191,300 192,300 193,600 193,500 194,100

Finance, Insurance and Realty Employment

1998-99 1999-2000

THOUSANDS

139.4

Monthly Data
Seasonally Adjusted

138.3

Month

1998-99

1999-2000

Dec

136,900

137,400

Jan

136,200

138,400

137.1

Feb

136,800

137,900

M ar

136,800

138,000

Apr M ay

136,500 137,200

138,100 137,900

136.0

Jun

137,000

138,100

Jul

136,900

139,000

Aug

136,800

139,000

Sep

137,200

138,700

Oct

137,300

138,400

134.9

Nov

D

J

F

M

A

M

J

J

A

S

O

N

137,600

138,400

8 Metro Atlanta Economic Indicators / January 2001

Georgia Department of Labor

Business Services Employment

245.6

1998-99 1999-2000

236.9

Monthly Data
Seasonally Adjusted

THOUSANDS

228.2

Month

Dec

Jan

Feb

219.5

M ar

Apr

M ay

Jun

210.8

Jul

Aug

Sep

Oct

202.2

Nov

D

J

F

M

A

M

J

J

A

S

O

N

1998-99
213,500 217,900 220,600 220,400 222,700 223,100 225,900 226,800 230,100 229,100 232,300 235,000

1999-2000
234,000 230,500 230,100 231,500 232,200 230,200 228,600 231,300 230,600 231,100 227,100 224,200

Health Services Employment

138.6

1998-99 1999-2000

THOUSANDS

132.5

Monthly Data
Seasonally Adjusted

Month

126.4

Dec

Jan

Feb

120.3

M ar

Apr

M ay

Jun

114.2

Jul

Aug

Sep

Oct

108.1

Nov

D

J

F

M

A

M

J

J

A

S

O

N

1998-99
114,700 116,400 116,000 118,500 120,400 123,100 123,500 123,900 124,300 124,700 126,100 126,000

1999-2000
127,000 127,600 128,200 128,000 128,400 128,800 128,700 129,300 129,500 130,800 130,800 131,700

Social Services Employment
30.7 1998-99 1999-2000

THOUSANDS

29.0

Monthly Data

Seasonally Adjusted

Month 27.2

Dec

Jan

Feb

25.5

M ar

Apr

M ay

Jun

23.8

Jul

Aug

Sep

Oct

22.1

Nov

D

J

F

M

A

M

J

J

A

S

O

N

1998-99
24,203 24,541 24,893 25,167 25,357 25,456 25,593 25,639 25,671 26,122 26,547 26,901

1999-2000
26,905 27,302 27,434 27,261 27,024 27,368 27,126 27,555 27,713 28,029 28,260 28,495

Georgia Department of Labor

Metro Atlanta Economic Indicators / January 2001 9

Manufacturing Workweek

42.6

1998-99

1999-2000

HOURS

41.8

Monthly Data

Seasonally Adjusted

40.9

40.0

39.1

38.2

D

J

F

M

A

M

J

Month

Dec

Jan

Feb

M ar

Apr

M ay

Jun

Jul

Aug

Sep

Oct

Nov

J

A

S

O

N

1998-99
41.6 41.0 41.2 41.1 41.0 41.2 40.9 41.1 40.6 40.9 40.1 40.8

1999-2000
40.3 40.5 40.4 40.6 40.3 40.1 40.0 39.5 39.8 39.5 39.7 39.2

Manufacturing Earnings

$568

1998-99 1999-2000

DOLLARS

$557

Monthly Data
Seasonally Adjusted

$547

Month

Dec

Jan

Feb

$536

M ar

Apr

M ay

Jun

$526

Jul

Aug

Sep

Oct

$516

Nov

D

J

F

M

A

M

J

J

A

S

O

N

1998-99
$ 530.89 527.02 535.87 539.36 541.06 544.60 545.55 548.19 541.55 546.50 547.40 550.81

1999-2000
$ 547.06 553.90 549.30 553.39 548.52 543.20 546.52 543.59 552.44 544.47 555.53 553.31

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

Dec

Jan

Feb

M ar

Apr

M ay

Jun

Jul

Aug

Sep

Oct

Nov

J

A

S

O

1998-99
$ 323.91 320.77 325.76 326.88 325.55 327.68 328.25 328.85 324.09 325.49 325.45 327.28

1999-2000
$ 325.05 328.33 323.69 323.43 320.40 317.10 317.19 314.94 319.70 313.45 319.27 317.81

10 Metro Atlanta Economic Indicators / January 2001

Georgia Department of Labor

Initial Unemployment Claims
8.6 1998-99 1999-2000

THOUSANDS

7.9

Monthly Data

Seasonally Adjusted

Month 7.2
Dec

Jan

Feb

6.6

M ar

Apr

M ay

Jun

5.9

Jul

Aug

Sep

Oct

5.2

Nov

D

J

F

M

A

M

J

J

A

S

O

N

1998-99
6,496 6,587 6,429 6,943 6,890 6,006 6,022 6,770 6,104 6,207 6,476 6,530

1999-2000
6,257 6,459 7,226 6,328 6,341 7,231 7,480 6,788 7,658 7,063 7,564 7,842

Continued Unemployment Claims
70.5 1998-99 1999-2000

THOUSANDS

64.5

Monthly Data

Seasonally Adjusted

Month 58.5

Dec

Jan

Feb

52.5

M ar

Apr

M ay

Jun

46.5

Jul

Aug

Sep

Oct

40.5

Nov

D

J

F

M

A

M

J

J

A

S

O

N

1998-99
48,551 48,021 52,048 55,244 53,451 52,173 56,996 47,747 58,540 54,097 55,776 60,880

1999-2000
51,318 60,301 56,217 47,928 55,814 57,035 52,810 62,773 56,053 62,316 59,309 57,939

Total Unemployment Rate
3.6 1998-99 1999-2000

PERCENTAGES

3.3

Monthly Data

Seasonally Adjusted

Month

3.1 Dec

Jan

Feb

2.8

Mar

Apr

May

Jun

2.6

Jul

Aug

Sep

Oct

2.3

Nov

D

J

F

M

A

M

J

J

A

S

O

N

1998-99
3.1 % 3.2 3.3 3.2 3.1 3.0 3.1 3.0 3.0 2.8 2.9 3.0

1999-2000
2.9 % 3.0 2.9 2.9 2.9 2.9 2.9 2.8 2.9 2.8 2.8 2.6

Georgia Department of Labor

Metro Atlanta Economic Indicators / January 2001

11

iInsured Unemployment Rate
0.74 1998-99 1999-2000

0.71

Monthly Data

Seasonally Adjusted

PERCENTAGES

Month

0.68

Dec

Jan

Feb

0.64

M ar

Apr

M ay

Jun

0.61

Jul

Aug

Sep

Oct

0.58

Nov

D

J

F

M

A

M

J

J

A

S

O

N

MMARTA Passengers

1998-99

1999-2000

0.62 % 0.62 0.63 0.64 0.63 0.63 0.62 0.62 0.64 0.63 0.65 0.63

0.65 % 0.66 0.63 0.63 0.64 0.65 0.66 0.65 0.68 0.70 0.68 0.69

7.3 1998-99 1999-2000

MILLIONS

7.0

Monthly Data

Seasonally Adjusted

Month 6.6

Dec

Jan

Feb

6.3

M ar

Apr

M ay

Jun

6.0

Jul

Aug

Sep

Oct

5.6

Nov

D

J

F

M

A

M

J

J

A

S

O

N

1998-99
6,818,000 6,278,000 6,461,000 6,466,000 6,372,000 6,191,000 6,076,000 6,247,000 6,237,000 6,349,000 6,339,000 6,767,000

1999-2000
6,514,000 6,464,000 6,659,000 6,674,000 6,324,000 6,636,000 6,918,000 6,159,000 6,651,000 6,451,000 6,440,000 6,485,000

Cobb Community Transit Passengers

158.2

1998-99 1999-2000

145.2

Monthly Data
Seasonally Adjusted

THOUSANDS

132.2

Month

Dec

Jan

Feb

119.3

M ar

Apr

M ay

Jun

106.3

Jul

Aug

Sep

Oct

93.3

Nov

D

J

F

M

A

M

J

J

A

S

O

N

1998-99
110,808 108,972 116,737 112,599 114,233 111,034 122,006 121,216 136,656 135,419 126,197 125,310

1999-2000
140,234 133,858 138,668 138,730 141,917 140,999 126,844 129,435 132,957 132,535 135,589 141,601

12 Metro Atlanta Economic Indicators / January 2001

Georgia Department of Labor

Residential Construction
6.3 1998-99 1999-2000

HOUSEHOLD UNITS

5.8

Monthly Data

Seasonally Adjusted

Month

5.4

Dec

Jan

Feb

4.9

M ar

Apr

M ay

Jun

4.5

Jul

Aug

Sep

Oct

4.0

Nov

D

J

F

M

A

M

J

J

A

S

O

N

1998-99
5,582 4,735 5,144 4,674 4,687 4,751 4,695 4,804 4,626 4,580 4,708 4,999

1999-2000
4,895 5,582 5,305 5,424 5,671 5,631 5,478 5,235 4,985 5,199 4,694 5,294

Nonresidential Construction

$652

1998-99 1999-2000

MILLIONS

$542

Monthly Data
Seasonally Adjusted

$433

Month

1998-99 1999-2000

Dec

$ 274,221,000 $ 304,954,000

Jan

377,864,000

315,030,000

Feb

344,233,000

288,030,000

$324

M ar

521,256,000

332,227,000

Apr

372,824,000

339,225,000

M ay

329,610,000

351,565,000

Jun

316,691,000

480,036,000

$214

Jul

381,979,000

288,234,000

Aug

339,994,000

230,732,000

Sep

296,019,000

422,232,000

Oct

261,184,000

355,827,000

$105

Nov

N

D

J

F

M

A

M

J

J

A

S

O

280,502,000

259,515,000

Deflated Nonresidential Construction

$602

1998-99 1999-2000

MILLIONS

$501

Monthly Data
Seasonally Adjusted

$400

Month

1998-99

1999-2000

Dec

254,143,652

271,552,983

Jan

348,261,751

279,281,915

$298

Feb

316,973,297

254,668,435

Mar

478,655,647

293,227,714

Apr

341,101,555

297,827,041

May

300,191,257

307,850,263

$197

Jun

286,857,790

419,245,415

Jul

345,369,801

250,856,397

Aug

306,853,791

200,636,522

Sep

266,924,256

365,885,615

Oct

234,456,014

307,277,202

$96

Nov

D

J

F

M

A

M

J

J

A

S

O

N

250,672,029

223,527,132

Georgia Department of Labor

Metro Atlanta Economic Indicators / January 2001

13

Hotel Occupancy
69.2 1998-99 1999-2000

67.5

Monthly Data

Seasonally Adjusted

PERCENTAGES

Month 65.8
Dec

Jan

Feb

64.1

M ar

Apr

M ay

Jun

62.4

Jul

Aug

Sep

Oct

60.7

Nov

D

J

F

M

A

M

J

J

A

S

O

N

Average Hotel Room Rates
$89 1998-99 1999-2000

1998-99
64.90 % 65.50 65.80 65.80 66.70 66.90 64.30 65.10 63.50 66.60 67.10 66.80

1999-2000
65.20 % 66.30 64.00 64.20 62.70 64.00 66.10 66.10 66.30 67.00 64.60 66.30

DOLLARS

$86
Monthly Data
Seasonally Adjusted

$83

Month

Dec

Jan

Feb

$80

M ar

Apr

M ay

Jun

$76

Jul

Aug

Sep

Oct

$73

Nov

D

J

F

M

A

M

J

J

A

S

O

N

1998-99
$79.35 83.54 80.01 79.47 79.58 77.14 79.31 77.02 77.89 79.42 79.98 82.31

1999-2000
$ 82.31 85.27 81.83 79.46 79.68 80.97 77.92 79.15 81.69 80.50 78.95 79.83

Deflated Average Hotel Room Rates
$53 1998-99 1999-2000

$51

Monthly Data

Seasonally Adjusted

DOLLARS

Month

$49

Dec

Jan

Feb

$47

M ar

Apr

M ay

Jun

$45

Jul

Aug

Sep

Oct

$43

Nov

D

J

F

M

A

M

J

J

A

S

O

N

1998-99
$ 50.97 48.70 48.31 48.23 46.41 47.72 46.34 46.72 47.53 47.39 47.55 48.91

1999-2000
$50.67 48.51 46.82 46.57 47.30 45.49 45.94 47.33 46.59 47.28 45.37 45.85

14 Metro Atlanta Economic Indicators / January 2001

Georgia Department of Labor

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

8.68

PERCENTAGES

7.98

7.29

6.59

5.90

D

J

F

M

A

M

J

Average 15-Year Fixed Mortgage Rate*
9.10 1998-99 1999-2000

Monthly Data
Not Seasonally Adjusted

Month

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

J

A

S

O

N

* Does not include points

1998-99
6.72 6.78 6.79 7.00 6.89 7.09 7.56 7.68 8.03 7.90 7.86 7.72

1999-2000
8.04 8.19 8.37 8.28 8.12 8.55 8.26 8.16 8.04 7.95 7.81 7.79

8.38

PERCENTAGES

7.66

6.95

6.23

5.51

D

J

F

M

A

M

J

J

A

S

O

N

* Does not include points

Average One-Year Adjustable Mortgage Rate*

8.28

1998-99

1999-2000

Monthly Data
Not Seasonally Adjusted

Month

1998-99

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

Nov

7.35

1999-2000
7.65 7.78 7.96 7.87 7.78 8.27 8.01 7.87 7.78 7.63 7.48 7.45

7.51

Monthly Data

Not Seasonally Adjusted

PERCENTAGES

Month

6.73

Dec

Jan

Feb

5.96

M ar

Apr

M ay

Jun

5.19

Jul

Aug

Sep

Oct

4.42

Nov

D

J

F

M

A

M

J

J

A

S

O

N

* Does not include points

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

1999-2000
6.51 6.72 6.93 6.90 6.82 6.64 7.22 7.26 7.35 7.34 7.14 7.06

Georgia Department of Labor

Metro Atlanta Economic Indicators / January 2001 15

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