Pickens Bartow Cherokee Forsyth
Cobb Paulding
Gwinnett Barrow
Carroll
Douglas Fulton DeKalb
Clayton
Walton Newton
Fayette
Coweta
Henry
Spalding
Metro Rockdale
Atlanta Economic Indicators
Monthly Report Volume 3, Issue 2 April 2000
February 2000 Data
Georgia Department of Labor
Michael L. Thurmond, Commissioner
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
Metro Atlanta Economic Indicators / April 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
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 / April 2000
Georgia Department of Labor
Metro Atlanta Consumer Price Index
YEAR JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Rate
1977.0 1978.0 1979.0 1980.0 1981.0 1982.0 1983.0 1984.0 1985.0 1986.0 1987.0 1988.0 1989.0 1990.0 1991.0 1992.0 1993.0 1994.0 1995.0 1996.0 1997.0 1998.0 1999.0 2000.0
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
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
64.7 71.9 81.7 91.6 98.0 100.8 104.8 109.9 112.4
60.7 65.9 73.2 83.0 93.3 98.8
100.9 105.4 110.4 112.7
161.9 165.9
162.0 166.5
61.2 65.9 74.0 85.7 93.6 98.2 101.9 105.5 111.2 113.5 117.5 121.7 127.3 132.6 136.2 138.5 144.7 146.7 151.5 157.2 159.5 161.6 167.0
7.4% 7.7% 12.3% 15.8% 9.2% 4.9% 3.8% 3.5% 5.4% 2.1% 3.5% 3.6% 4.6% 4.2% 2.7% 1.7% 4.5% 1.4% 3.3% 3.8% 1.5% 1.4% 3.3%
U.S. BUREAU OF LABOR STATISTICS
Atlanta's inflation growth slows to 0.2
Inflation in Metropolitan Atlanta increased 0.2 percent during January and February, as reported by the U.S. Bureau of Labor Statistics (BLS). The metropolitan Consumer Price Index was measured at 167.4 for the two month period, which reflected a 3.4 percent rise over February of 1999. It compared to a 0.8 percent increase on a national level for January and February. A 0.9 percent surge in housing costs for January and February erased the 0.1 percent decline of the November and December report. Contributing to that increase was the cost of utilities, which increased 0.3 percent, and costs for shelter at 1.4 percent. During the last year, housing costs have risen 2.9 percent. The index for apparel prices fell 4.1
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
112.5
Less previous index
108.5
Equals index point change
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%
percent, following a 2.7 percent
decrease in the previous two-month
period. Also dampening the effects
of inflationary pressure was a 0.1
percent drop in transportation costs.
The cost of grocery shopping dropped 0.5 percent since December, which offset a 0.4 percent increase in the tab for food away from home. Transportation costs dropped 0.1 percent during the last two months, although gasoline prices rose by 5.5 percent. Energy costs continued to climb during January and February. The increase of 2.4 percent furthered the effects of the 1.9 percent rise during November and December. What is commonly referred to as the "core inflation rate," which excludes the volatile food and energy components, increased 0.1 percent during the first two months of this year. On a 12-month basis, the index of all items less food and energy grew 2.3 percent.
Metro Atlanta Economic Indicators / April 2000 3
Apartment Rent & Vacancy Trends
Atlanta MSA
$800
8%
Average Monthly Rent (Columns) Average Vacancy - (Line)
$700
7%
$600
6%
$500
5%
$400
1995
1996
1997
1998
1999
4% 2000*
Source: Marcus & Millichap
*Forecast
Atlanta's apartment rental rates rising
Apartment rent has outpaced inflation in Atlanta, according to the real estate investment brokerage firm of Marcus & Millichap. The company's semiannual Apartment Research Report, issued in February, states that the average apartment rent in the metropolitan area was $732 per month, a 6.4 percent annual increase through the third quarter of 1999. Two key factors are cited for the rise in rent: growth of the core renter's age group (18 to 34 year olds) and the high volume in availability of new Class-A apartment dwellings. Class A and B properties had the lowest vacancy rates, with some properties at less than 4 percent.
Certain areas within metropolitan Atlanta, called "submarkets", have the highest rental rates, which include Buckhead, North Fulton, Briarcliff/
Steady job growth in Atlanta will continue to attract young professionals and build the prime renter population, while newly constructed units will keep rental rates propped up.
LaVista and the downtown business district. But across the area, average rents have risen from $680 to $700 per month in 1998, to a range of $724 to $740, their current level.
During 2000, supply is expected to
slightly outpace demand, but with little effect in the short term. Newer units, constructed during the 1990's, have experienced a 6.5 percent growth from $819 per month at mid-1980, to the present $873 average. Marcus & Millichap note that the demand for in-town living remains high, driving up house prices in the city. Given rising mortgage rates and limited supply, in-town apartments have continued to be an attractive alternative. Steady job growth in Atlanta will continue to attract young professionals and build the prime renter population, while newly constructed units will keep rental rates propped up. Strong absorption rates suggest that current projects slated for completion in 2001 and 2002 will not result in overbuilding.
4 Metro Atlanta Economic Indicators / April 2000
Georgia Department of Labor
Data Summary
February 2000
Metro Atlanta Economic Indicators
Feb 2000
Jan 2000
Feb 99
Percent Percent Change Change
Jan 2000 Feb 99
to
to
Feb 2000 Feb 2000
Nonagricultural Employment
2,207,000
Wholesale Employment
178,200
Retail Employment
403,700
Services Employment
687,100
Manufacturing Employment
228,400
Government Employment
267,000
Construction Employment
117,100
Transp. & Pub. Utilities Employment
187,700
Finance, Insurance & Realty Employment 137,500
Business Services Employment
229,700
Health Services Employment
129,400
Social Services Employment
30,805
Manufacturing Workweek
40.6
Manufacturing Earnings
$556.26
Deflated Manufacturing Earnings
$327.79
Initial Unemployment Claims
7,205
Continued Unemployment Claims
56,221
Total Unemployment Rate
2.8%
Insured Unemployment Rate
0.60%
MARTA Passengers
6,658,000
Cobb County Transit Passengers
126,416
Residential Construction (household units)
5,278
Nonresidential Construction (value) $353,988,000
Deflated Nonresidential Construction $273,984,000
Hotel Occupancy
63.8%
Average Hotel Room Rates
$80.34
Deflated Average Hotel Room Rate
$47.34
Average 30-Year Fixed Mortgage Rate
8.37%
Average 15-Year Fixed Mortgage Rate
7.96%
Average One-Year Adjustable Mortgage Rate 6.93%
Georgia Department of Labor
2,205,000 178,400 402,200 684,500 227,800 266,500 118,000 187,600 137,500 230,700 127,900 30,661 40.5 $554.85 $328.89 6,441 60,140 2.9% 0.61%
6,454,000 126,194 5,551
$315,955,000 $244,737,000
66.1% $90.54 $53.67 8.19% 7.78% 6.72%
2,107,000 173,600 378,200 636,600 226,300 261,600 111,100 181,200 136,900 220,300 116,100 27,748 41.1 $534.73 $325.06 6,410 52,031 3.2% 0.64%
6,461,000 118,785 5,115
$393,261,000 $315,113,000
65.6% $80.23 $48.77 6.79% 6.35% 5.34%
+ 0.09 - 0.11 + 0.37 + 0.38 + 0.26 + 0.19 - 0.76 + 0.05
0.00 - 0.43 + 1.17 + 0.47 + 0.25 + 0.25 - 0.33 + 11.86 - 6.52
+ 3.16 + 0.18 - 4.92 + 12.04 + 11.95 - 11.27 - 11.79 -
+ 4.75 + 2.65 + 6.74 + 7.93 + 0.93 + 2.06 + 5.40 + 3.59 + 0.44 + 4.27 + 11.46 + 11.02 - 1.22 + 4.03 + 0.84 + 12.40 + 8.05
+ 3.05 + 6.42 + 3.19 - 9.99 - 13.05 + 0.14 - 2.93 -
Metro Atlanta Economic Indicators / April 2000 5
MILLIONS
Nonagricultural Employment
2.29
1998-99
1999-2000
2.22
Monthly Data
Seasonally Adjusted
Month 1998-99 1999-2000
2.15
Mar
2,020,000
2,117,000
Apr
2,023,000
2,127,000
May
2,028,000
2,138,000
2.08
Jun
2,034,000
2,145,000
Jul
2,043,000
2,154,000
Aug
2,055,000
2,166,000
Sep
2,061,000
2,173,000
2.01
Oct
2,070,000
2,186,000
Nov
2,077,000
2,191,000
Dec
2,081,000
2,197,000
Jan
2,096,000
2,205,000
1.94
Feb
2,107,000
2,207,000
M
A
M
J
J
A
S
O
N
D
J
F
Wholesale Employment
183
1998-99
1999-2000
THOUSANDS
180
Monthly Data
Seasonally Adjusted
177
Month
1998-99 1999-2000
Mar
Apr
May
174
Jun
Jul
Aug
Sep
171
Oct
Nov
Dec
Jan
168
Feb
M
A
M
J
J
A
S
O
N
D
J
F
171,600 171,800 171,800 172,100 172,100 172,100 171,700 171,700 171,800 171,900 173,000 173,600
174,400 175,500 176,300 176,800 177,800 178,500 179,100 179,100 179,300 179,100 178,400 178,200
Retail Employment
417.0
1998-99
1999-2000
403.6
Monthly Data
Seasonally Adjusted
THOUSANDS
390.2
Month
Mar
Apr
May
376.8
Jun
Jul
Aug
Sep
363.4
Oct
Nov
Dec
Jan
350.0
Feb
M
A
M
J
J
A
S
O
N
D
J
F
1998-99
364,500 365,700 366,300 367,100 366,300 367,700 370,300 371,120 373,100 372,400 375,700 378,200
1999-2000
379,700 379,700 382,600 384,800 387,200 390,200 391,500 397,000 397,000 398,000 402,200 403,700
6 Metro Atlanta Economic Indicators / April 2000
Georgia Department of Labor
Services Employment
720
1998-99
1999-2000
689
Monthly Data
Seasonally Adjusted
THOUSANDS
Month
1998-99 1999-2000
658
Mar
601,500 644,300
Apr
600,700 651,900
May
604,300 655,800
627
Jun
605,700 660,500
Jul
611,300 662,600
Aug
612,500 669,500
Sep
615,000 670,400
596
Oct
618,400 678,100
Nov
620,200 681,800
Dec
621,700 685,500
Jan
632,500 684,500
565
Feb
636,600 687,100
M
A
M
J
J
A
S
O
N
D
J
F
Manufacturing Employment
231
1998-99
1999-2000
THOUSANDS
228
Monthly Data
Seasonally Adjusted
226
Month
1998-99 1999-2000
Mar
Apr
May
223
Jun
July
Aug
Sep
221
Oct
Nov
Dec
Jan
218
Feb
M
A
M
J
J
A
S
O
N
D
J
F
221,200 221,600 222,000 222,600 223,600 224,800 225,400 226,500 227,000 226,600 226,100 226,300
226,300 227,000 227,300 227,400 226,900 226,500 226,400 226,500 226,900 227,000 227,800 228,400
Government Employment
271
1998-99
1999-2000
THOUSANDS
267
Monthly Data
Seasonally Adjusted
Month
1998-99 1999-2000
263
Mar
Apr
May
260
Jun
Jul
Aug
Sep
256
Oct
Nov
Dec
Jan
252
Feb
M
A
M
J
J
A
S
O
N
D
J
F
257,900 256,300 255,900 257,700 258,300 259,600 261,700 260,500 261,400 260,800 261,400 261,600
259,600 259,300 259,700 260,000 260,900 261,000 262,200 263,700 264,000 265,300 266,500 267,000
Georgia Department of Labor
Metro Atlanta Economic Indicators / April 2000 7
Construction Employment
126
1998-99
1999-2000
119
Monthly Data
Seasonally Adjusted
THOUSANDS
Month 1998-99 1999-2000
112
Mar
98,800
111,700
Apr
99,000
112,800
May
99,800
113,500
105
Jun
101,500
114,000
Jul
102,300
115,000
Aug
103,300
114,900
Sep
104,100
115,600
98
Oct
105,600
117,000
Nov
106,400
117,200
Dec
107,800
117,500
Jan
109,500
118,000
91
Feb
111,100
117,100
M
A
M
J
J
A
S
O
N
D
J
F
Transportation and Public Utilities Employment
196.0
1998-99
1999-2000
THOUSANDS
189.4
Monthly Data
Seasonally Adjusted
Month 1998-99 1999-2000
182.8
Mar
Apr
May
176.2
Jun
Jul
Aug
Sep
169.6
Oct
Nov
Dec
Jan
163.0
Feb
M
A
M
J
J
A
S
O
N
D
J
F
171,100 171,900 172,700 173,000 174,700 176,200 176,800 178,000 179,600 180,500 179,900 181,200
181,900 183,000 183,400 183,500 184,500 185,200 186,000 186,100 186,100 186,400 187,600 187,700
Finance, Insurance and Realty Employment
140
1998-99
1999-2000
138
Monthly Data
Seasonally Adjusted
THOUSANDS
Month
1998-99 1999-2000
136
Mar
Apr
May
134
Jun
Jul
Aug
Sep
132
Oct
Nov
Dec
Jan
130
Feb
M
A
M
J
J
A
S
O
N
D
J
F
132,500 133,700 133,400 133,400 134,200 134,700 134,600 136,100 136,200 136,800 136,400 136,900
136,800 136,500 137,100 137,600 137,100 136,900 137,300 137,200 137,500 137,300 137,500 137,500
8 Metro Atlanta Economic Indicators / April 2000
Georgia Department of Labor
Business Services Employment
248.0
1998-99
1999-2000
235.8
Monthly Data
Seasonally Adjusted
THOUSANDS
Month
223.6
Mar
Apr
May
211.4
Jun
Jul
Aug
Sep
199.2
Oct
Nov
Dec
Jan
187.0
Feb
M
A
M
J
J
A
S
O
N
D
J
F
1998-99 1999-2000
202,000 200,800 202,600 204,200 205,200 205,400 207,200 207,900 209,500 213,600 218,100 220,300
220,800 223,100 222,800 225,200 226,600 229,800 229,300 232,200 235,200 234,400 230,700 229,700
Health Services Employment
135
1998-99
1999-2000
MILLIONS
129
Monthly Data
Seasonally Adjusted
Month
124
Mar
Apr
May
118
Jun
Jul
Aug
Sep
113
Oct
Nov
Dec
Jan
107
Feb
M
A
M
J
J
A
S
O
N
D
J
F
1998-99 1999-2000
114,100 113,400 113,100 112,700 114,000 115,000 114,800 114,700 114,800 114,700 116,600 116,100
118,500 120,400 123,200 123,400 123,800 124,200 124,800 126,000 126,000 127,200 127,900 129,400
Social Services Employment
32.5
1998-99
1999-2000
THOUSANDS OF METRIC TONS
31.1
Monthly Data
Seasonally Adjusted
Month
29.7
Mar
Apr
May
28.3
Jun
Jul
Aug
Sep
26.9
Oct
Nov
Dec
Jan
25.5
Feb
M
A
M
J
J
A
S
O
N
D
J
F
1998-99 1999-2000
27,602 27,085 27,168 27,213 27,342 27,432 27,561 27,689 27,536 27,687 27,567 27,748
28,021 28,639 28,971 29,149 29,312 29,470 29,649 29,989 30,326 30,578 30,661 30,805
Georgia Department of Labor
Metro Atlanta Economic Indicators / April 2000 9
Manufacturing Workweek
42.8
1998-99
1999-2000
HOURS
42.1
Monthly Data
Seasonally Adjusted
Month
1998-99 1999-2000
41.4
Mar
Apr
May
40.7
Jun
Jul
Aug
Sep
40.0
Oct
Nov
Dec
Jan
39.3
Feb
M
A
M
J
J
A
S
O
N
D
J
F
41.5
41.3
41.6
41.2
41.6
41.2
41.9
40.9
41.9
41.0
41.6
40.7
41.7
40.7
41.6
40.2
41.6
40.6
41.4
40.1
41.0
40.5
41.1
40.6
Manufacturing Earnings
$566
1998-99
1999-2000
DOLLARS
$556
Monthly Data
Seasonally Adjusted
Month
1998-99 1999-2000
$546
Mar
Apr
May
$537
Jun
Jul
Aug
Sep
$527
Oct
Nov
Dec
Jan
$517
Feb
M
A
M
J
J
A
S
O
N
D
J
F
533.84 535.60 539.16 539.05 531.49 537.40 530.10 536.86 535.28 531.39 527.75 534.73
541.25 544.16 542.54 544.54 545.50 542.09 545.37 546.98 551.74 547.61 554.85 556.26
Deflated Manufacturing Earnings
$336
1998-99
1999-2000
DOLLARS
$332
Monthly Data
Seasonally Adjusted
Month 1998-99 1999-2000
$328
Mar
Apr
May
$324
Jun
Jul
Aug
Sep
$320
Oct
Nov
Dec
Jan
$316
Feb
M
A
M
J
J
A
S
O
N
D
J
F
329.12 329.60 331.18 330.71 325.67 328.89 324.02 327.35 326.39 324.22 321.21 325.06
328.03 327.41 326.44 327.64 327.23 324.41 324.82 325.20 327.83 325.38 328.90 327.79
10 Metro Atlanta Economic Indicators\ April 1999
Georgia Department of Labor
Initial Unemployment Claims
7700
1998-99
1999-2000
THOUSANDS
7300
Monthly Data
Seasonally Adjusted
6900
Month
Mar
Apr
May
6500
Jun
Jul
Aug
Sep
6100
Oct
Nov
Dec
Jan
5700
Feb
M
A
M
J
J
A
S
O
N
D
J
F
1998-99 1999-2000
6,931 6,551 6,905 6,969 7,012 6,994 7,256 6,639 6,373 6,542 6,573 6,410
6,711 6,605 6,190 6,230 6,510 6,369 6,103 6,572 6,723 6,291 6,441 7,205
Continued Unemployment Claims
66.0
1998-99
1999-2000
THOUSANDS
61.4
Monthly Data
Seasonally Adjusted
Month
56.8
Mar
Apr
May
52.2
Jun
Jul
Aug
Sep
47.6
Oct
Nov
Dec
Jan
43.0
Feb
M
A
M
J
J
A
S
O
N
D
J
F
1998-99 1999-2000
58,030 53,605 54,620 54,640 59,885 57,713 52,784 48,779 55,255 48,972 48,021 52,031
55,620 51,819 51,515 56,594 49,032 58,084 54,490 55,672 60,937 52,375 60,140 56,221
Total Unemployment Rate
3.4
1998-99
1999-2000
PERCENTAGES
3.2
Monthly Data
Seasonally Adjusted
Month
1998-99 1999-2000
3.1
Mar
Apr
May
2.9
Jun
Jul
Aug
Sep
2.8
Oct
Nov
Dec
Jan
2.7
Feb
M
A
M
J
J
A
S
O
N
D
J
F
3.2% 3.2% 3.2% 3.2% 3.2% 3.2% 3.2% 3.1% 3.1% 3.1% 3.1% 3.2%
3.1% 3.1% 3.0% 3.0% 3.0% 3.0% 3.0% 2.9% 2.9% 2.9% 2.9% 2.8%
Georgia Department of Labor
Metro Atlanta Economic Indicators / April 2000 11
iInsured Unemployment Rate
0.73
1998-99
1999-2000
0.70
PERCENTAGES
0.66
0.63
0.59
0.56
M
A
M
J
J
A
S
O
N
D
J
F
MMARTA Passengers
7.1
1998-99
1999-2000
Monthly Data
Seasonally Adjusted
Month 1998-99
Mar
0.69%
Apr
0.67%
May
0.66%
Jun
0.66%
Jul
0.65%
Aug
0.63%
Sep
0.60%
Oct
0.60%
Nov
0.60%
Dec
0.61%
Jan
0.62%
Feb
0.64%
1999-2000
0.64% 0.63% 0.63% 0.62% 0.61% 0.64% 0.64% 0.65% 0.63% 0.64% 0.61% 0.60%
MILLIONS
6.9
Monthly Data
Seasonally Adjusted
6.6
Month 1998-99 1999-2000
Mar 6,479,000 6,542,000
Apr
6,369,000 6,303,000
May 6,415,000 6,217,000
6.4
Jun
6,403,000 6,201,000
Jul
6,769,000 6,129,000
Aug 6,205,000 6,250,000
Sep
6,585,000 6,335,000
6.1
Oct
6,633,000 6,300,000
Nov 6,571,000 6,789,000
Dec 6,810,000 6,507,000
Jan
6,270,000 6,454,000
5.9
Feb
6,461,000 6,658,000
M
A
M
J
J
A
S
O
N
D
J
F
Cobb Community Transit Passengers
149
1998-99
1999-2000
137
126
THOUSANDS
114
102
90
M
A
M
J
J
A
S
O
N
D
J
F
12 Metro Atlanta Economic Indicators / April 2000
Monthly Data
Seasonally Adjusted
Month
Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb
1998-99
106,837 109,715 107,229 110,544 112,759 101,799 108,301 112,219 114,517 109,270 109,049 118,785
1999-2000
122,658 120,088 116,632 121,978 119,625 133,256 132,130 124,468 124,497 137,994 126,194 126,416
Georgia Department of Labor
Residential Construction
6200
1998-99
1999-2000
HOUSEHOLD UNITS
5640
Monthly Data
Seasonally Adjusted
Month
5080
Mar
Apr
May
4520
Jun
Jul
Aug
Sep
3960
Oct
Nov
Dec
Jan
3400
Feb
M
A
M
J
J
A
S
O
N
D
J
F
1998-99 1999-2000
4,759 4,427 4,688 4,304 4,498 4,949 5,060 5,575 5,343 5,493 4,703 5,115
4,726 4,866 4,075 4,616 4,759 4,501 4,516 4,394 4,842 4,832 5,551 5,278
Nonresidential Construction
$505
1998-99 1999-2000
MILLIONS
$445
Monthly Data
Seasonally Adjusted
Month 1998-99 1999-2000
$385
Mar 290,600,000 449,777,000
Apr 272,091,000 336,927,000
May 327,358,000 303,617,000
$325
Jun 291,708,000 332,963,000
Jul 298,208,000 368,399,000
Aug 385,814,000 348,215,000
Sep 434,923,000 320,590,000
$265
Oct 376,812,000 278,955,000
Nov 392,669,000 276,102,000
Dec 274,159,000 308,086,000
Jan 378,224,000 315,955,000
$205
Feb 393,261,000 353,988,000
M
A
M
J
J
A
S
O
N
D
J
F
Deflated Nonresidential Construction
$405
1998-99 1999-2000
MILLIONS
$356
Monthly Data
Seasonally Adjusted
Month
1998-99 1999-2000
$307
Mar 246,106,000 358,103,000
Apr 225,989,000 268,468,000
May 271,441,000 241,157,000
$258
Jun 240,287,000 262,382,000
Jul 244,633,000 288,940,000
Aug 315,113,000 273,110,000
Sep 355,329,000 250,461,000
$209
Oct 307,100,000 217,255,000
Nov 318,725,000 214,531,000
Dec 221,096,000 239,197,000
Jan 303,794,000 244,737,000
$160
Feb 315,113,000 273,984,000
M
A
M
J
J
A
S
O
N
D
J
F
Georgia Department of Labor
Metro Atlanta Economic Indicators / April 2000 13
Hotel Occupancy
68.3
1998-99
1999-2000
66.9
PERCENTAGES
65.5
64.1
62.7
61.3
M
A
M
J
J
A
S
O
N
D
J
F
Average Hotel Room Rates
$96
1998-99
1999-2000
$91
$86
DOLLARS
$81
$76
$71
M
A
M
J
J
A
S
O
N
D
J
F
Deflated Average Hotel Room Rates
$58
1998-99
1999-2000
$55
$52
DOLLARS
$49
$46
$43
M
A
M
J
J
A
S
O
N
D
J
F
14 Metro Atlanta Economic Indicators / April 2000
Monthly Data
Seasonally Adjusted
Month 1998-99 1999-2000
Mar
63.8%
65.2%
Apr
64.2%
65.1%
May
65.9%
65.3%
Jun
66.2%
64.1%
Jul
65.1%
65.2%
Aug
65.8%
64.2%
Sep
65.4%
66.1%
Oct
65.8%
66.0%
Nov
64.4%
66.3%
Dec
64.9%
65.2%
Jan
65.4%
66.1%
Feb
65.6%
63.8%
Monthly Data
Seasonally Adjusted
Month 1998-99
Mar
80.28
Apr
78.31
May
78.35
Jun
77.78
Jul
76.86
Aug
77.48
Sep
77.35
Oct
79.53
Nov
79.87
Dec
85.27
Jan
79.77
Feb
80.23
1999-2000
80.07 79.03 80.34 79.01 77.67 79.18 81.67 81.71 86.14 87.29 90.54 80.34
Monthly Data
Seasonally Adjusted
Month 1998-99 1999-2000
Mar
$49.49
48.53
Apr
48.19
47.55
May
48.13
48.34
Jun
47.72
47.54
Jul
47.10
46.59
Aug
47.42
47.38
Sep
47.28
48.64
Oct
48.49
48.58
Nov
48.70
51.18
Dec
52.03
51.87
Jan
48.55
53.67
Feb
48.77
47.34
Georgia Department of Labor
Average 30-Year Fixed Mortgage Rate*
8.7
1998-99 1999-2000
8.2
Monthly Data
Not Seasonally Adjusted
PERCENTAGES
Month
7.7
Mar
Apr
May
7.2
Jun
Jul
Aug
Sep
6.7
Oct
Nov
Dec
Jan
6.2
Feb
M
A
M
J
J
A
S
O
N
D
J
F
* Does not include points
Average 15-Year Fixed Mortgage Rate*
8.3
1998-99 1999-2000
1998-99
7.09% 7.10% 7.10% 6.99% 6.93% 5.92% 6.72% 6.78% 6.91% 6.72% 6.78% 6.79%
1999-2000
7.00% 6.89% 7.09% 7.56% 7.68% 8.03% 7.90% 7.86% 7.72% 8.04% 8.19% 8.37%
7.8
PERCENTAGES
7.3
6.8
6.3
5.8
M
A
M
J
J
A
S
O
N
D
J
F
* Does not include points
Average One-Year Adjustable Mortgage Rate*
7.20
1998-99
1999-2000
Monthly Data
Not Seasonally Adjusted
Month
1998-99
Mar
6.73%
Apr
6.72%
May
6.70%
Jun
6.65%
Jul
6.61%
Aug
6.58%
Sep
6.39%
Oct
6.35%
Nov
6.42%
Dec
6.39%
Jan
6.34%
Feb
6.35%
1999-2000
6.58% 6.47% 6.69% 7.17% 7.23% 7.55% 7.48% 7.45% 7.35% 7.65% 7.78% 7.96%
6.72
Monthly Data
Not Seasonally Adjusted
PERCENTAGES
Month
1998-99 1999-2000
6.24
Mar
Apr
May
5.76
Jun
Jul
Aug
Sep
5.28
Oct
Nov
Dec
Jan
4.80
Feb
M
A
M
J
J
A
S
O
N
D
J
F
* Does not include points
5.63% 5.56% 5.57% 5.56% 5.51% 5.50% 5.37% 5.27% 5.42% 5.37% 5.32% 5.34%
5.44% 5.52% 5.59% 5.87% 5.98% 6.26% 6.30% 6.36% 6.30% 6.51% 6.72% 6.93%
Georgia Department of Labor
Metro Atlanta Economic Indicators / April 2000 15
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