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 To receive a free subscription, 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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