AT L A N TA METROPOLITAN Economic Indicators A Monthly Report of Atlanta Labor Market and Economic Trends .A>HK=HO Volume 3, Issue 12 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 12 February 2001 December 2000 Data Cover art: Sparrow, 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 / .ebruary 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 / .ebruary 2001 Georgia Department of Labor Consumer Price Index for the South 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 Jan 110.2 114.1 118.9 124.6 131.4 134.4 138.4 142.5 146.7 151.1 155.7 157.6 159.9 164.0 Feb 62.4 68.9 78.5 87.8 95.1 98.0 102.4 105.7 108.9 110.7 114.4 119.2 125.4 131.7 134.9 139.1 142.9 147.4 151.5 156.1 157.8 160.0 164.7 Mar Apr May Jun Jul Aug Sep Oct Nov Dec Rate 58.9 60.1 61.0 61.6 7.1 63.5 64.9 65.9 66.8 67.7 9.9 70.3 72.2 73.6 75.0 76.3 12.7 80.6 82.2 82.7 84.2 85.8 12.5 89.0 90.4 91.9 93.0 94.3 9.9 94.7 97.0 97.6 98.0 97.8 3.7 98.8 99.6 100.2 101.2 101.3 3.6 103.1 103.6 104.3 105.1 105.3 3.9 106.4 107.1 107.6 108.3 108.7 3.2 107.9 108.7 108.7 109.4 109.7 0.9 111.1 111.5 111.8 112.2 112.6 112.9 113.5 113.8 114.1 114.0 3.9 114.8 115.4 115.6 116.1 116.6 117.0 117.7 118.2 118.3 118.5 3.9 119.8 120.8 121.3 121.7 122.0 122.1 122.5 123.0 123.2 123.4 4.1 126.0 126.1 126.5 127.3 127.8 128.7 129.7 130.7 130.9 130.9 6.1 131.9 132.1 132.5 132.8 133.0 133.3 133.8 134.1 134.4 134.3 2.6 135.5 135.9 136.2 136.7 136.8 137.0 137.3 137.8 138.1 137.9 2.7 139.7 140.2 140.7 140.8 140.9 141.5 141.6 142.2 142.3 142.2 3.1 143.6 143.8 144.3 144.7 145.0 145.5 145.8 145.9 146.0 146.1 2.7 148.0 148.4 148.8 149.1 149.2 149.7 149.8 150.5 150.4 150.3 2.9 152.4 153.2 153.5 154.0 154.0 154.1 154.5 154.9 155.1 155.1 3.2 156.5 156.7 156.6 157.0 157.0 157.1 157.5 157.8 157.8 157.3 1.4 158.2 158.5 158.8 159.1 159.3 159.5 159.5 159.8 159.6 159.6 1.5 160.6 161.5 161.6 161.7 162.2 162.6 163.2 163.6 163.5 163.6 2.5 166.4 166.6 166.6 167.4 167.9 168.0 168.5 168.5 168.6 168.4 2.9 Source: U.S. Bureau of Labor Statistics CPI South decreased 0.1 percent during December The Consumer Price Index for All Urban Consumers (CPI-U) for the South, decreased 0.1 percent in September, not seasonally adjusted, according to data released by the U.S. Department of Labor's Bureau of Labor Statistics. For the 12month period ending in December, the CPI-U for the South increased 2.9 percent to a level of 168.4 During the calendar year 2000, the CPI-U for the South rose 2.9 percent. This compares with 2.5 percent for all of 1999. The energy index rose 11.0 percent compared to a 14.8 percent rise in 1999. The food index increased 2.6 percent in 2000, following a 2.3 percent rise in 1999. Excluding food and energy, the CPI-U for the South 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% rose 2.3 percent compared with a 1.5 percent rise in 1999. Over the month, higher costs for food and beverages and medical care were offset by lower costs for apparel, transportation and other goods and services. Energy prices decreased 0.1 percent in December as higher costs for household fuels were more than offset by lower costs for motor fuels. Among the major index groups, the food and beverages index advanced 0.5 percent in December, following a 0.1 percent decrease in November. Housing costs were unchanged in December following a 0.3 percent decline in November. The fuels and utilities index rose 0.8 percent over the month due to a 5.8 percent rise in natural gas service costs. Transportation costs dropped 0.4 percent, while medical care costs grew 0.4 percent for the month. Metro Atlanta Economic Indicators / .ebruary 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's Leading Index increased 3.8 percent in 2000 Note: All indicators are seasonally adjusted. *** 51.2 The Georgia Department of Labor's Recent 12 Months Leading Coincident Index of Leading Economic 47.4 Indicators for the Atlanta Metropolitan 43.5 Area increased 0.2 percent in December, to a level of 144.3 from a 39.7 revised 144.0, after seasonal 35.8 adjustment. The average index for the twelve months of 2000 was 143.6, a 32.0 1987-88 = 100 3.8 percent increase over the average of 1999 which was 138.3. On a December to December basis, the Index has grown 2.1 percent. Concern over economic slowdown is the topic of the day for many industries. The higher inflation and 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. tight labor market that marked the last half of 2000 have taken their toll; the The current data suggests that average growth of the Leading Index economic growth peaked in April of has been 4.5 to 6.0 through the 1990's. 2000 when the Index reached a high of 145.95. The softening in the latter months of 2000 would suggest that the metropolitan economy is stable and that a gradual slowing of the local economy is likely. Some sectors are experiencing sharp declines, while other areas of the economy continue to show some growth. The Index of Coincident indicators declined 2.4 percent in December, to a level of 137.2 from a revised 140.48. The average index for the twelve months of 2000 grew 3.5 percent, while the December to December change was down 0.2 percent. Most of the weakness in the Coincident Index is contributed by softening in both residential and nonresidential construction. 4 Metro Atlanta Economic Indicators / .ebruary 2001 Georgia Department of Labor Data Summary December 2000 Metro Atlanta Economic Indicators Dec 2000 Nov 2000 Dec 1999 Percent Change Nov 2000 to Dec 2000 Percent Change Dec 1999 to Dec 2000 Nonagricultural Employment 2,231,000 Wholesale Employment 182,800 Retail Employment 404,500 Services Employment 700,200 Manufacturing Employment 227,300 Government Employment 265,800 Construction Employment 118,500 Transp. & Pub. Utilities Employment 195,600 Finance, Insurance & Realty Employment 138,300 Business Services Employment 223,900 Health Services Employment 132,800 Social Services Employment 28,675 Manufacturing Workweek 38.7 Manufacturing Earnings $547.78 Deflated Manufacturing Earnings $314.82 Initial Unemployment Claims 7,832 Continued Unemployment Claims 63,523 Total Unemployment Rate 2.6% Insured Unemployment Rate 0.72% MARTA Passengers 6,221,000 Cobb County Transit Passengers 132,071 Residential Construction (household units) 4,995 Nonresidential Construction (value) $350,362,000 Deflated Nonresidential Construction $300,481,990 Hotel Occupancy 67.3% Average Hotel Room Rates $78.00 Deflated Average Hotel Room Rate $44.83 Average 30-Year Fixed Mortgage Rate 7.45% Average 15-Year Fixed Mortgage Rate 7.09% Average One-Year Adjustable Mortgage Rate 6.92% Georgia Department of Labor 2,233,000 181,900 407,300 698,100 226,900 266,600 118,000 194,600 138,600 225,200 132,400 28,503 39.0 $551.00 $316.48 7,901 57,953 2.6% 0.70% 6,553,000 139,810 5,260 $261,427,000 $225,173,988 66.6% $79.00 $45.38 7.79% 7.45% 7.06% 2,198,000 179,500 399,100 685,700 226,700 266,600 117,800 186,400 137,400 233,600 126,000 26,879 40.4 $548.05 $325.64 6,176 51,647 2.9% 0.64% 6,572,000 130,277 4,990 $308,619,000 $274,816,563 66.1% $78.50 $46.64 8.04% 7.65% 6.51% -0.09 0.49 -0.69 0.30 0.18 -0.30 0.42 0.51 -0.22 -0.58 0.30 0.60 -0.77 -0.58 -0.52 -0.87 9.61 -5.07 -5.54 -5.04 34.02 33.44 -1.27 -1.21 - 1.50 1.84 1.35 2.11 0.26 -0.30 0.59 4.94 0.66 -4.15 5.40 6.68 -4.21 -0.05 -3.32 26.81 22.99 -5.34 1.38 0.10 13.53 9.34 -0.64 -3.89 - Metro Atlanta Economic Indicators / .ebruary 2001 5 Nonagricultural Employment 2.3 1998-99 1999-2000 MILLIONS 2.2 Monthly Data Seasonally Adjusted 2.2 2.1 2.1 2.0 J F M A M J Month Jan Feb M ar Apr M ay Jun Jul Aug Sep Oct Nov Dec J A S O N D 1998-99 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 2,186,000 2,192,000 2,198,000 1999-2000 2,207,000 2,206,000 2,218,000 2,226,000 2,230,000 2,226,000 2,237,000 2,234,000 2,237,000 2,232,000 2,233,000 2,231,000 Wholesale Employment 186.9 1998-99 1999-2000 THOUSANDS 183.3 Monthly Data Seasonally Adjusted 179.7 Month Jan Feb M ar 176.2 Apr M ay Jun Jul 172.6 Aug Sep Oct Nov 169.0 Dec J F M A M J J A S O N D 1998-99 173,200 173,600 174,400 175,200 176,200 176,500 177,600 178,400 179,000 179,200 179,700 179,500 1999-2000 178,700 179,500 179,700 180,300 180,600 181,200 181,200 181,400 181,400 181,600 181,900 182,800 Retail Employment 425.7 1998-99 1999-2000 412.5 Monthly Data Seasonally Adjusted THOUSANDS 399.4 Month Jan Feb M ar 386.2 Apr M ay Jun Jul 373.0 Aug Sep Oct Nov 359.9 Dec J F M A M J J A S O N D 1998-99 375,700 378,400 379,300 379,000 382,400 385,000 387,200 390,700 392,000 396,500 396,400 399,100 1999-2000 402,400 402,400 403,900 406,700 405,500 405,000 407,600 404,800 404,400 405,700 407,300 404,500 6 Metro Atlanta Economic Indicators / .ebruary 2001 Georgia Department of Labor Services Employment 732.4 1998-99 1999-2000 704.8 Monthly Data Seasonally Adjusted THOUSANDS 677.1 649.4 621.8 594.1 J F M A M J Month Jan Feb M ar Apr M ay Jun Jul Aug Sep Oct Nov Dec J A S O N D 1998-99 629,000 636,200 642,300 648,900 655,600 660,700 663,300 669,800 673,800 678,800 682,100 685,700 1999-2000 685,000 685,400 688,500 691,000 690,700 690,900 694,500 693,300 695,000 694,900 698,100 700,200 Manufacturing Employment 229.5 1998-99 1999-2000 THOUSANDS 228.6 Monthly Data Seasonally Adjusted 227.7 Month Jan Feb M ar 226.9 Apr M ay Jun Jul 226.0 Aug Sep Oct Nov 225.1 Dec J F M A M J J A S O N D 1998-99 226,200 226,700 226,400 227,100 227,300 227,400 226,900 226,500 226,300 226,500 226,900 226,700 1999-2000 227,400 227,900 227,800 228,300 228,200 228,300 227,600 227,700 228,100 227,600 226,900 227,300 Government Employment 278.7 1998-99 1999-2000 THOUSANDS 273.1 Monthly Data Seasonally Adjusted 267.6 Month Jan Feb M ar 262.0 Apr M ay Jun Jul 256.4 Aug Sep Oct Nov 250.9 Dec J F M A M J J A S O N D 1998-99 262,200 260,300 259,000 258,300 257,800 258,300 260,400 260,000 263,100 264,200 264,900 266,600 1999-2000 267,600 269,100 270,900 272,300 271,900 270,200 269,300 270,800 269,900 267,700 266,600 265,800 Georgia Department of Labor Metro Atlanta Economic Indicators / .ebruary 2001 7 Construction Employment 124.2 1998-99 1999-2000 THOUSANDS 120.3 Monthly Data Seasonally Adjusted Month 1998-99 1999-2000 116.5 Jan 109,600 118,300 Feb 111,100 117,500 M ar 111,500 118,700 112.7 Apr M ay 112,900 113,400 117,900 118,800 Jun 114,000 119,000 Jul 114,700 119,500 108.8 Aug 114,700 119,400 Sep 115,500 119,500 Oct 117,200 118,000 Nov 117,500 118,000 105.0 Dec J F M A M J J A S O N D 117,800 118,500 Transportation and Public Utilities Employment 202.0 1998-99 1999-2000 THOUSANDS 196.2 Monthly Data Seasonally Adjusted 190.5 Month 1998-99 1999-2000 Jan Feb M ar 184.8 Apr M ay Jun Jul 179.0 Aug Sep Oct Nov 173.3 Dec J F M A M J J A S O N D 179,900 181,300 181,700 182,800 183,300 183,300 184,400 185,100 185,700 186,200 186,200 186,400 187,700 187,900 189,000 189,700 190,400 191,500 191,300 192,300 193,700 193,600 194,600 195,600 Finance, Insurance and Realty Employment 140.5 1998-99 1999-2000 139.4 Monthly Data Seasonally Adjusted THOUSANDS 138.3 Month 1998-99 1999-2000 Jan 136,300 138,500 Feb 136,800 137,900 137.1 M ar 136,800 138,000 Apr 136,500 138,100 M ay Jun 137,200 136,900 137,900 138,100 136.0 Jul 136,900 139,100 Aug 136,800 139,000 Sep 137,200 138,700 Oct 137,200 138,300 Nov 137,400 138,600 134.9 Dec J F M A M J J A S O N D 137,400 138,300 8 Metro Atlanta Economic Indicators / .ebruary 2001 Georgia Department of Labor Business Services Employment 243.8 1998-99 1999-2000 236.9 Monthly Data Seasonally Adjusted THOUSANDS 230.0 Month Jan Feb M ar 223.1 Apr M ay Jun Jul 216.1 Aug Sep Oct Nov 209.2 Dec J F M A M J J A S O N D 1998-99 217,900 220,600 220,400 222,700 223,200 226,000 226,900 230,100 229,100 232,300 234,800 233,600 1999-2000 230,500 230,100 231,400 232,300 230,300 228,700 231,400 230,700 231,200 227,100 225,200 223,900 Health Services Employment 141.0 1998-99 1999-2000 THOUSANDS 134.4 Monthly Data Seasonally Adjusted Month 127.9 Jan Feb M ar 121.3 Apr M ay Jun Jul 114.7 Aug Sep Oct Nov 108.1 Dec J F M A M J J A S O N D 1998-99 116,300 115,900 118,600 120,400 123,100 123,500 123,900 124,300 124,700 126,200 125,800 126,000 1999-2000 127,500 128,100 128,000 128,400 128,800 128,700 129,300 129,500 130,800 130,900 132,400 132,800 Social Services Employment 30.7 1998-99 1999-2000 THOUSANDS 29.1 Monthly Data Seasonally Adjusted Month 27.5 Jan Feb M ar 25.8 Apr M ay Jun Jul 24.2 Aug Sep Oct Nov 22.6 Dec J F M A M J J A S O N D 1998-99 24,538 24,890 25,166 25,359 25,456 25,605 25,642 25,680 26,121 26,546 26,904 26,879 1999-2000 27,300 27,430 27,253 27,027 27,369 27,142 27,547 27,725 28,029 28,259 28,503 28,675 Georgia Department of Labor Metro Atlanta Economic Indicators / .ebruary 2001 9 Manufacturing Workweek 42.3 1998-99 1999-2000 HOURS 41.3 Monthly Data Seasonally Adjusted 40.4 39.5 38.6 37.6 J F M A M J Month Jan Feb M ar Apr M ay Jun Jul Aug Sep Oct Nov Dec J A S O N D 1998-99 41.0 41.2 41.1 41.0 41.2 40.9 41.1 40.6 40.8 40.1 40.7 40.4 1999-2000 40.5 40.4 40.6 40.3 40.0 40.0 39.5 39.8 39.4 39.7 39.0 38.7 Manufacturing Earnings $568 1998-99 1999-2000 DOLLARS $557 Monthly Data Seasonally Adjusted $547 Month Jan Feb M ar $536 Apr M ay Jun Jul $526 Aug Sep Oct Nov $516 Dec J F M A M J J A S O N D 1998-99 $ 528.01 536.10 539.56 541.18 544.71 545.58 547.95 541.07 545.86 546.91 549.51 548.05 1999-2000 $ 555.51 549.55 553.59 548.89 543.27 546.49 543.29 551.85 543.51 554.70 551.00 547.78 Deflated Manufacturing Earnings $336 1998-99 1999-2000 DOLLARS $330 Monthly Data Seasonally Adjusted $324 Month Jan Feb M ar $318 Apr M ay Jun Jul $312 Aug Sep Oct Nov $306 Dec D J F M A M J J A S O D 1998-99 $ 321.37 325.90 327.01 325.62 327.74 328.27 328.70 323.80 325.11 325.15 326.51 325.64 1999-2000 $ 329.29 323.84 323.55 320.61 317.15 317.17 314.77 319.36 312.90 318.79 316.48 314.82 10 Metro Atlanta Economic Indicators / .ebruary 2001 Georgia Department of Labor Initial Unemployment Claims 8.8 1998-99 1999-2000 THOUSANDS 8.1 Monthly Data Seasonally Adjusted Month 7.4 Jan Feb M ar 6.7 Apr M ay Jun Jul 5.9 Aug Sep Oct Nov 5.2 Dec J F M A M J J A S O N D 1998-99 6,586 6,456 6,939 6,882 5,999 6,019 6,765 6,113 6,229 6,501 6,568 6,176 1999-2000 6,460 7,263 6,324 6,331 7,219 7,469 6,776 7,668 7,090 7,602 7,901 7,832 Continued Unemployment Claims 70.5 1998-99 1999-2000 THOUSANDS 64.5 Monthly Data Seasonally Adjusted Month 58.5 Jan Feb M ar 52.5 Apr M ay Jun Jul 46.5 Aug Sep Oct Nov 40.5 Dec J F M A M J J A S O N D 1998-99 47,825 51,854 56,020 53,311 52,103 56,905 47,796 58,490 54,089 55,564 60,890 51,647 1999-2000 59,959 55,923 48,638 55,596 56,516 52,690 62,841 55,993 62,306 60,104 57,953 63,523 Total Unemployment Rate 3.6 1998-99 1999-2000 PERCENTAGES 3.3 Monthly Data Seasonally Adjusted Month 3.1 Jan Feb Mar 2.8 Apr May Jun Jul 2.6 Aug Sep Oct Nov 2.3 Dec J F M A M J J A S O N D 1998-99 3.2 % 3.3 3.2 3.1 3.0 3.1 3.0 3.0 2.8 2.9 3.0 2.9 1999-2000 3.0 % 2.9 2.9 2.9 2.9 2.9 2.8 2.9 2.8 2.8 2.6 2.6 Georgia Department of Labor Metro Atlanta Economic Indicators / .ebruary 2001 11 iInsured Unemployment Rate 0.76 1998-99 1999-2000 0.73 Monthly Data Seasonally Adjusted PERCENTAGES Month 0.69 Jan Feb M ar 0.65 Apr M ay Jun Jul 0.62 Aug Sep Oct Nov 0.58 Dec J F M A M J J A S O N D MMARTA Passengers 1998-99 1999-2000 0.62 % 0.63 0.64 0.63 0.63 0.62 0.62 0.64 0.64 0.66 0.64 0.64 0.65 % 0.63 0.63 0.64 0.65 0.66 0.66 0.69 0.70 0.69 0.70 0.72 7.2 1998-99 1999-2000 MILLIONS 6.9 Monthly Data Seasonally Adjusted Month 6.6 Jan Feb M ar 6.3 Apr M ay Jun Jul 6.1 Aug Sep Oct Nov 5.8 Dec J F M A M J J A S O N D 1998-99 6,253,000 6,468,000 6,473,000 6,345,000 6,190,000 6,158,000 6,129,000 6,230,000 6,343,000 6,336,000 6,830,000 6,572,000 1999-2000 6,436,000 6,668,000 6,681,000 6,293,000 6,634,000 6,575,000 6,552,000 6,641,000 6,443,000 6,435,000 6,553,000 6,221,000 Cobb Community Transit Passengers 158.2 1998-99 1999-2000 145.2 Monthly Data Seasonally Adjusted THOUSANDS 132.2 Month Jan Feb M ar 119.3 Apr M ay Jun Jul 106.3 Aug Sep Oct Nov 93.3 Dec J F M A M J J A S O N D 1998-99 110,013 116,385 124,787 112,403 111,714 121,375 120,711 136,024 134,217 125,423 124,804 130,277 1999-2000 132,876 137,926 137,580 141,570 140,815 126,468 130,295 131,758 130,883 135,308 139,810 132,071 12 Metro Atlanta Economic Indicators / .ebruary 2001 Georgia Department of Labor Residential Construction 6.3 1998-99 1999-2000 HOUSEHOLD UNITS 5.8 Monthly Data Seasonally Adjusted Month 5.4 Jan Feb M ar 4.9 Apr M ay Jun Jul 4.5 Aug Sep Oct Nov 4.0 Dec J F M A M J J A S O N D 1998-99 4,740 5,089 4,677 4,686 4,744 4,688 4,799 4,619 4,569 4,690 5,007 4,990 1999-2000 5,586 5,288 5,422 5,666 5,628 5,471 5,222 4,970 5,179 4,670 5,260 4,995 Nonresidential Construction $643 1998-99 1999-2000 MILLIONS $533 Monthly Data Seasonally Adjusted $424 Month 1998-99 1999-2000 Jan $ 379,283,000 $ 316,527,000 Feb 342,357,000 286,429,000 M ar 523,563,000 333,873,000 $314 Apr 371,801,000 338,038,000 M ay 327,317,000 348,848,000 Jun 312,818,000 473,031,000 Jul 380,220,000 286,496,000 $205 Aug 347,991,000 236,912,000 Sep 295,840,000 421,655,000 Oct 261,251,000 355,787,000 Nov 282,443,000 261,427,000 $96 Dec J F M A M J J A S O N D 308,619,000 350,362,000 Deflated Nonresidential Construction $602 1998-99 1999-2000 $501 Monthly Data Seasonally Adjusted MILLIONS $400 Month 1998-99 1999-2000 Jan $ 349,570,000 $ 280,609,000 Feb 315,246,000 253,253,000 $298 Mar 480,774,000 294,680,000 Apr 340,166,000 296,785,000 May 298,103,000 305,471,000 Jun 283,350,000 413,128,000 $197 Jul 343,779,000 249,344,000 Aug 314,071,000 206,010,000 Sep 266,763,000 365,386,000 Oct 234,516,000 307,243,000 Nov 252,407,000 225,174,000 $96 Dec J F M A M J J A S O N D 274,817,000 300,482,000 Georgia Department of Labor Metro Atlanta Economic Indicators / .ebruary 2001 13 Hotel Occupancy 69.2 1998-99 1999-2000 67.5 Monthly Data Seasonally Adjusted PERCENTAGES Month 65.8 Jan Feb M ar 64.1 Apr M ay Jun Jul 62.4 Aug Sep Oct Nov 60.7 Dec J F M A M J J A S O N D Average Hotel Room Rates $89 1998-99 1999-2000 1998-99 65.50 % 65.80 65.80 66.60 67.00 64.40 65.20 66.00 66.80 66.90 67.00 66.10 1999-2000 66.30 % 64.10 64.20 62.60 64.10 66.20 66.30 66.40 67.20 64.50 66.60 67.30 DOLLARS $86 Monthly Data Seasonally Adjusted $83 Month Jan Feb M ar $80 Apr M ay Jun Jul $76 Aug Sep Oct Nov $73 Dec J F M A M J J A S O N D 1998-99 $87.15 80.11 79.14 79.33 76.96 79.18 76.85 77.65 79.08 79.39 81.55 78.50 1999-2000 $ 78.50 79.69 79.11 79.42 80.78 77.77 79.01 81.49 80.20 78.32 79.00 78.00 Deflated Average Hotel Room Rates $51 1998-99 1999-2000 $49 Monthly Data Seasonally Adjusted DOLLARS Month $48 Jan Feb M ar $46 Apr M ay Jun Jul $44 Aug Sep Oct Nov $43 Dec J F M A M J J A S O N D 1998-99 $ 48.76 48.11 48.08 46.31 47.64 46.24 46.58 47.32 47.11 47.20 48.46 46.64 1999-2000 $47.24 46.62 46.42 47.18 45.40 45.86 47.21 46.41 47.01 45.01 45.38 44.83 14 Metro Atlanta Economic Indicators / .ebruary 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 J F M A M J J Average 15-Year Fixed Mortgage Rate* 9.10 1998-99 1999-2000 Monthly Data Not Seasonally Adjusted Month Jan Feb M ar Apr M ay Jun Jul Aug Sep Oct Nov Dec A S O N D * Does not include points 1998-99 6.78 6.79 7.00 6.89 7.09 7.56 7.68 8.03 7.90 7.86 7.72 8.04 1999-2000 8.19 8.37 8.28 8.12 8.55 8.26 8.16 8.04 7.95 7.81 7.79 7.45 8.38 PERCENTAGES 7.66 6.95 6.23 5.51 J F M A M J J A S O N D * Does not include points Average One-Year Adjustable Mortgage Rate* 8.28 1998-99 1999-2000 Monthly Data Not Seasonally Adjusted Month 1998-99 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 Dec 7.65 1999-2000 7.78 7.96 7.87 7.78 8.27 8.01 7.87 7.78 7.63 7.48 7.45 7.09 7.51 Monthly Data Not Seasonally Adjusted PERCENTAGES Month 6.73 Jan Feb M ar 5.96 Apr M ay Jun Jul 5.19 Aug Sep Oct Nov 4.42 Dec J F M A M J J A S O N D * Does not include points 1998-99 5.32 5.34 5.44 5.52 5.59 5.87 5.98 5.73 6.30 6.36 6.30 6.51 1999-2000 6.72 6.93 6.90 6.82 6.64 7.22 7.26 7.35 7.34 7.14 7.06 6.92 Georgia Department of Labor Metro Atlanta Economic Indicators / .ebruary 2001 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