Metro Atlanta economic indicators, monthly report, Vol. 3, no. 3 (May 2000)

AT L A N TA

METROPOLITAN
Economic

Indicators

A Monthly Report of Atlanta Labor Market and Economic Trends

MAY 2000

Volume 3, Issue 3

Georgia Department of Labor
Michael L. Thurmond Commissioner

This issue is dedicated to Jim Wynn who retired this month, in appreciation for his years of service to the Georgia Department of Labor, during which he created this publication.

Cover art: The Fox Theater by 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

Georgia Department of Labor

Metro Atlanta Economic Indicators / May 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 / May 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 de-

crease in the previous two-month pe-

riod. 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 the months of January and February. Th increase of 2.4 percent for the two months 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 12month basis, the index of all items less food and energy grew 2.3 percent.

Metro Atlanta Economic Indicators / May 2000 3

ACCRA Cost of Living Index

METRO AREA
New York, NY Boston, MA Washington, D.C. San Diego, CA Los Angeles, CA Pittsburgh, PA Philadelphia, PA Riverside, CA Chicago, IL Cleveland, OH Minneapolis, MN Atlanta, GA Phoenix, AR Dallas, TX Tampa, FL St. Louis, MO Baltimore, MD Houston, TX

ALL ITEMS GROCERIES HOUSING UTILITIES TRANSP. HEALTH MISC.

240.1 136.9 131.6 126.7 123.0 117.3 116.2 114.7 113.1 110.3 105.9 104.3 102.4 100.3
99.4 97.5 96.0 95.1

148.4 114.5 101.3 126.2 115.8 104.6 105.1 111.4 109.3 109.3 101.2 103.7 101.7
98.5 101.7 100.7
94.0 92.8

486.3

173.3

120.9

185.1 136.2

185.9

134.5

120.1

127.0 113.3

181.2

94.5

129.8

118.3 115.9

161.3

101.2

128.0

120.2 104.5

152.1

116.8

109.8

113.5 108.6

135.5

134.8

105.7

107.2 108.7

133.6

130.0

109.2

97.7 108.4

115.5

134.0

110.2

131.5 109.8

119.8

112.6

119.7

117.6 106.7

116.5

127.1

108.9

117.7 100.9

104.8

100.6

113.6

127.2 104.8

109.2

106.5

101.5

108.5 100.1

100.9

102.4

108.7

115.7 100.0

96.1

106.5

106.3

104.2 100.7

101.1

112.4

100.9

89.5

94.7

96.2

95.2

95.9

104.7

96.9

92.6

105.6

98.7

94.0

96.9

85.6

99.8

106.4

110.8

97.4

Source: American Chamber of Commerce Research Association

Atlanta cost of living remains below average

Despite fast-growing inflation over the last six months, Atlanta has maintained its below-average rank among the top 18 metropolitan areas in the United States. The average cost of living for a professional / managerial lifestyle in Atlanta, ranked twelfth in the last quarter of 1999, with an index of 104.3. The average index of all 311 metropolitan areas surveyed is 100.
Published by the American Chamber of Commerce Research Association (ACCRA), the Cost of Living Index reported that increases in the costs of housing and utilities outpaced declines in groceries and healthcare for the 20county Atlanta metropolitan area.
The ACCRA Index measures price changes in the areas of consumer goods and services excluding taxes and nonconsumer expenditures. The survey is based on 59 items for which

prices are collected quarterly by local chambers of commerce or economic development organizations in each urban area.
Among all 18 major metropolitan areas, transportation costs were nearly 30 percent above the average in Washington and San Diego, while St. Louis and Baltimore fell slightly below the average. Atlanta was 1.5 percent above the average for transporation during the three-month period.
The composite index is a weighted average of six components, five of which are highest in the New York / Manhattan area. Among the 17 metropolitan areas excluding New York, the grocery items index ranged from 126 in San Diego to 93 in Houston. Housing was most costly in Boston and Washington, both more than 80 percent above the average, and least costly in

Houston which was 14 percent below the average. Consistent with higher energy prices, Atlanta's index of utilities grew 9.7 percent from the third to the fourth quarter, or 6.5 percent above the average. Housing in Atlanta was also higher by 7.3 percent but healthcare fell by 5.6 percent, quarter to quarter, according to ACCRA. By comparison, Boston had the highest healthcare costs outside Manhattan, more than 25 percent over the average, while Tampa / Clearwater was 10 percent below average. Utilities in Boston, Pittsburgh, Philadelphia and Cleveland were 30 to 35 percent above the average.
The cost of miscellaneous goods and services in Atlanta was average at 100.1. This includes some apparel, entertainment and non-necessity items.

4 Metro Atlanta Economic Indicators / May 2000

Georgia Department of Labor

Data Summary
March 2000

Metro Atlanta Economic Indicators

Mar 2000

Feb 2000

Mar 1999

Percent Percent Change Change

Feb 2000 Mar 1999

to

to

Mar 2000 Mar 2000

Nonagricultural Employment

2,217,000

Wholesale Employment

179,700

Retail Employment

404,700

Services Employment

688,800

Manufacturing Employment

228,100

Government Employment

270,700

Construction Employment

118,500

Transp. & Pub. Utilities Employment

187,600

Finance, Insurance & Realty Employment 138,400

Business Services Employment

231,000

Health Services Employment

128,200

Social Services Employment

31,326

Manufacturing Workweek

40.7

Manufacturing Earnings

$554.43

Deflated Manufacturing Earnings

$324.04

Initial Unemployment Claims

6,189

Continued Unemployment Claims

48,206

Total Unemployment Rate

2.7%

Insured Unemployment Rate

0.63%

MARTA Passengers

6,692,000

Cobb County Transit Passengers

134,681

Residential Construction (household units)

5,426

Nonresidential Construction (value) $309,713,000

Deflated Nonresidential Construction $239,345,440

Hotel Occupancy

63.8%

Average Hotel Room Rates

$80.62

Deflated Average Hotel Room Rate

$47.12

Average 30-Year Fixed Mortgage Rate

8.28%

Average 15-Year Fixed Mortgage Rate

7.87%

Average One-Year Adjustable Mortgage Rate 6.90%

Georgia Department of Labor

2,208,000 179,400 402,600 686,000 228,100 268,700 117,500 187,600 137,900 230,000 128,400 30,991 40.4 $550.72 $324.53 6,342 55,942 2.8% 0.65%
6,674,000 138,327 5,300
$275,183,000 $212,660,742
63.7% $80.70 $47.55 8.37% 7.96% 6.93%

2,117,000 174,300 379,600 644,200 226,400 258,800 111,600 182,000 136,700 220,100 118,600 28,001 41.2 $541.14 $327.96 6,820 55,606 3.1% 0.64%
6,483,000 122,030 4,674
$489,631,000 $389,523,469
65.4% $80.38 $48.72 7.00% 6.58% 5.44%

+ 0.41 + 0.17 + 0.52 + 0.41
0.00 + 0.74 + 0.85
0.00 + 0.36 + 0.43 - 0.16 + 1.08 + 0.74 + 0.67 - 0.15 - 2.41 - 13.83
+ 0.27 - 2.64 + 2.38 + 12.55 + 12.55 - 0.10 - 0.90 -

+ 4.72 + 3.10 + 6.61 + 6.92 + 0.75 + 4.60 + 6.18 + 3.08 + 1.24 + 4.95 + 8.09 + 11.87 - 1.21 + 2.46 - 1.20 - 9.25 - 13.31
+ 3.22 + 10.37 + 16.09 - 36.75 - 38.55 + 0.30 - 3.28 -

Metro Atlanta Economic Indicators / May 2000 5

MILLIONS

Nonagricultural Employment

2.29

1998-99

1999-2000

2.22

Monthly Data

Seasonally Adjusted

Month 1998-99 1999-2000

2.15

Apr

2,023,000

2,127,000

May

2,028,000

2,138,000

Jun

2,034,000

2,145,000

2.08

Jul

2,043,000

2,154,000

Aug

2,054,000

2,165,000

Sep

2,061,000

2,173,000

Oct

2,070,000

2,186,000

2.01

Nov

2,077,000

2,191,000

Dec

2,081,000

2,197,000

Jan

2,096,000

2,206,000

Feb

2,107,000

2,208,000

1.94

Mar

2,117,000

2,217,000

A

M

J

J

A

S

O

N

D

J

F

M

Wholesale Employment

183

1998-99

1999-2000

THOUSANDS

180
Monthly Data
Seasonally Adjusted

177

Month

1998-99 1999-2000

Apr

May

Jun

174

Jul

Aug

Sep

Oct

171

Nov

Dec

Jan

Feb

168

Mar

A

M

J

J

A

S

O

N

D

J

F

M

171,600 171,700 172,000 172,000 172,100 171,700 171,800 172,100 172,100 173,200 173,600 174,300

175,300 176,100 176,700 177,700 178,500 179,100 179,100 179,500 179,400 178,700 179,400 179,700

Retail Employment

420.0

1998-99

1999-2000

406.2

Monthly Data
Seasonally Adjusted

THOUSANDS

392.4

Month

1998-99 1999-2000

Apr

May

Jun

378.6

Jul

Aug

Sep

Oct

364.8

Nov

Dec

Jan

Feb

351.0

Mar

A

M

J

J

A

S

O

N

D

J

F

M

365,700 366,300 367,100 366,300 367,700 370,300 371,120 373,000 372,400 375,700 378,600 379,600

379,600 382,600 384,800 387,200 390,200 391,500 397,000 397,000 398,000 402,200 402,600 404,700

6 Metro Atlanta Economic Indicators / May 2000

Georgia Department of Labor

Services Employment

722

1998-99

1999-2000

690.8

Monthly Data
Seasonally Adjusted

THOUSANDS

Month

1998-99 1999-2000

659.6

Apr

600,800 651,900

May

604,400 655,800

Jun

605,700 660,600

628.4

Jul

611,300 662,600

Aug

612,500 669,500

Sep

614,900 670,300

Oct

618,300 677,900

597.2

Nov

620,100 681,700

Dec

621,600 685,300

Jan

632,400 684,300

Feb

636,600 686,000

566

Mar

A

M

J

J

A

S

O

N

D

J

F

M

644,200 688,800

Manufacturing Employment

231

1998-99

1999-2000

THOUSANDS

229
Monthly Data
Seasonally Adjusted

226

Month

1998-99 1999-2000

Apr

May

Jun

224

July

Aug

Sep

Oct

221

Nov

Dec

Jan

Feb

219

Mar

A

M

J

J

A

S

O

N

D

J

F

M

221,600 222,100 222,600 223,600 224,800 225,400 226,500 226,900 226,600 226,100 226,400 226,400

227,100 227,300 227,500 227,.00 226,500 226,400 226,500 226,800 226,900 227,500 228,100 228,100

Government Employment

277

1998-99

1999-2000

THOUSANDS

272

Monthly Data

Seasonally Adjusted

Month

1998-99 1999-2000

266

Apr

May

Jun

261

Jul

Aug

Sep

Oct

255

Nov

Dec

Jan

Feb

250

Mar

A

M

J

J

A

S

O

N

D

J

F

M

256,100 255,600 257,700 258,200 262,200 261,700 260,600 261,500 261,000 261,800 260,100 258,800

259,400 259,700 260,700 260,800 260,800 262,100 263,700 264,100 265,600 267,000 268,700 270,700

Georgia Department of Labor

Metro Atlanta Economic Indicators / May 2000 7

Construction Employment

126

1998-99

1999-2000

119

Monthly Data

Seasonally Adjusted

THOUSANDS

Month 1998-99 1999-2000

112

Apr

98,900

112,700

May

99,800

113,500

Jun

101,500

114,000

105

Jul

102,300

114,900

Aug

103,200

114,900

Sep

104,100

115,600

Oct

105,600

117,000

98

Nov

106,500

117,200

Dec

107,900

117,600

Jan

109,500

118,100

Feb

111,200

117,500

91

Mar

111,600

118,500

A

M

J

J

A

S

O

N

D

J

F

M

Transportation and Public Utilities Employment

195.5

1998-99

1999-2000

THOUSANDS

189.3

Monthly Data
Seasonally Adjusted

Month 1998-99 1999-2000
183.1

Apr

May

Jun

176.9

Jul

Aug

Sep

Oct

170.7

Nov

Dec

Jan

Feb

164.5

Mar

A

M

J

J

A

S

O

N

D

J

F

M

172,000 172,700 173,000 174,700 176,200 176,800 178,000 179,600 180,400 179,900 181,100 182,000

183,000 183,400 183,500 184,500 185,200 185,900 186,000 186,100 186,400 187,600 187,600 187,600

Finance, Insurance and Realty Employment

141

1998-99

1999-2000

THOUSANDS

139

Monthly Data

Seasonally Adjusted

Month 1998-99 1999-2000
137

Apr

May

Jun

135

Jul

Aug

Sep

Oct

133

Nov

Dec

Jan

Feb

131

Mar

A

M

J

J

A

S

O

N

D

J

F

M

133,700 133,400 133,500 134,200 134,700 134,500 136,100 136,200 136,900 136,300 136,900 136,700

136,500 137,000 137,700 137,100 136,900 137,300 137,300 137,600 137,400 138,400 137,900 138,400

8 Metro Atlanta Economic Indicators / May 2000

Georgia Department of Labor

Business Services Employment

248.0

1998-99

1999-2000

235.8

Monthly Data
Seasonally Adjusted

THOUSANDS

Month

223.6
Apr

May Jun

211.4

Jul

Aug

Sep

Oct

199.2

Nov

Dec

Jan

Feb

187.0

Mar

A

M

J

J

A

S

O

N

D

J

F

M

1998-99 1999-2000

200,800 202,600 204,200 205,200 205,500 207,300 208,000 209,500 213,700 218,100 220,500 220,100

223,200 222,800 225,200 226,600 229,800 229,400 232,300 235,300 234,400 230,700 230,000 231,000

Health Services Employment

135

1998-99

1999-2000

MILLIONS

129

Monthly Data

Seasonally Adjusted

Month
123

Apr

May

Jun

118

Jul

Aug

Sep

Oct

112

Nov

Dec

Jan

Feb

106

Mar

A

M

J

J

A

S

O

N

D

J

F

M

1998-99 1999-2000

113,500 113,100 112,700 114,000 115,000 114,800 114,700 114,700 114,700 116,500 116,100 118,600

120,500 123,200 123,400 123,800 124,200 124,700 126,000 125,900 127,000 127,700 128,400 128,200

Social Services Employment

32.95

1998-99

1999-2000

THOUSANDS OF METRIC TONS

31.46

Monthly Data
Seasonally Adjusted

Month

29.97

Apr

May

Jun

28.48

Jul

Aug

Sep

Oct

26.99

Nov

Dec

Jan

Feb

25.5

Mar

A

M

J

J

A

S

O

N

D

J

F

M

1998-99 1999-2000

27,073 27,155 27,198 27,334 27,430 27,566 27,700 27,555 27,709 27,603 27,739 28,001

28,619 28,950 29,128 29,300 29,467 29,656 29,999 30,348 30,606 30,704 30,991 31,326

Georgia Department of Labor

Metro Atlanta Economic Indicators / May 2000 9

Manufacturing Workweek

42.8

1998-99

1999-2000

HOURS

42.1

Monthly Data

Seasonally Adjusted

Month

1998-99 1999-2000

41.4

Apr

41.6

41.2

May

41.6

41.2

Jun

41.9

40.9

40.7

Jul

41.9

41.0

Aug

41.6

40.7

Sep

41.7

40.7

Oct

41.6

40.2

40.0

Nov

41.6

40.6

Dec

41.4

40.1

Jan

41.0

40.5

Feb

41.2

40.4

39.4

Mar

A

M

J

J

A

S

O

N

D

J

F

M

41.2

40.7

Manufacturing Earnings

$566

1998-99

1999-2000

DOLLARS

$556

Monthly Data

Seasonally Adjusted

Month

1998-99 1999-2000

$546

Apr

May

Jun

$537

Jul

Aug

Sep

Oct

$527

Nov

Dec

Jan

Feb

$517

Mar

A

M

J

J

A

S

O

N

D

J

F

M

536.00 539.41 539.24 531.55 537.31 528.43 536.69 535.12 531.29 527.71 536.96 541.14

544.08 542.82 544.75 545.53 541.93 554.89 548.01 551.52 547.49 554.81 550.72 554.43

Deflated Manufacturing Earnings

$335

1998-99

1999-2000

DOLLARS

$331

Monthly Data

Seasonally Adjusted

Month

1998-99 1999-2000

$328

Apr

May

Jun

$324

Jul

Aug

Sep

Oct

$321

Nov

Dec

Jan

Feb

$317

Mar

A

M

J

J

A

S

O

N

D

J

F

M

329.85 331.33 330.82 325.70 328.83 323.00 327.25 326.29 324.15 321.19 326.42 327.96

327.36 326.61 327.77 327.25 324.31 330.49 325.81 327.70 325.31 328.87 324.53 324.04

10 Metro Atlanta Economic Indicators / May 2000

Georgia Department of Labor

Initial Unemployment Claims

7700

1998-99

1999-2000

THOUSANDS

7300
Monthly Data
Seasonally Adjusted

6900

Month

Apr

May

Jun

6500

Jul

Aug

Sep

Oct

6100

Nov

Dec

Jan

Feb

5700

Mar

A

M

J

J

A

S

O

N

D

J

F

M

1998-99 1999-2000

6,546 6,943 7,007 7,012 7,020 7,264 6,643 6,367 6,521 6,544 6,406 6,820

6,595 6,182 6,224 6,497 6,375 6,113 6,578 6,718 6,268 6,403 6,342 6,189

Continued Unemployment Claims

66.0

1998-99

1999-2000

THOUSANDS

61.4

Monthly Data

Seasonally Adjusted

Month
56.8

Apr

May

Jun

52.2

Jul

Aug

Sep

Oct

47.6

Nov

Dec

Jan

Feb

43.0

Mar

A

M

J

J

A

S

O

N

D

J

F

M

1998-99 1999-2000

54,182 54,867 53,977 60,070 57,859 53,098 48,826 55,170 48,356 47,975 51,892 55,606

52,771 51,909 55,408 49,315 58,661 54,960 55,420 61,245 51,000 60,123 55,942 48,206

Total Unemployment Rate

3.4

1998-99

1999-2000

PERCENTAGES

3.2

Monthly Data

Seasonally Adjusted

Month
3.0

Apr

May

Jun

2.9

Jul

Aug

Sep

Oct

2.7

Nov

Dec

Jan

Feb

2.5

Mar

A

M

J

J

A

S

O

N

D

J

F

M

1998-99 1999-2000

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% 2.7%

Georgia Department of Labor

Metro Atlanta Economic Indicators / May 2000 11

iInsured Unemployment Rate

0.71

1998-99

1999-2000

0.68

Monthly Data

Seasonally Adjusted

PERCENTAGES

Month 1998-99 1999-2000

0.65

Apr

May

Jun

0.62

Jul

Aug

Sep

Oct

0.60

Nov

Dec

Jan

Feb

0.57

Mar

A

M

J

J

A

S

O

N

D

J

F

M

0.67% 0.66% 0.63% 0.64% 0.63% 0.61% 0.60% 0.61% 0.62% 0.62% 0.63% 0.64%

0.63% 0.63% 0.62% 0.62% 0.64% 0.64% 0.66% 0.64% 0.65% 0.66% 0.65% 0.63%

MMARTA Passengers

7.1

1998-99

1999-2000

MILLIONS

6.9
Monthly Data
Seasonally Adjusted

6.6

Month 1998-99 1999-2000

6.4

6.1

5.9

A

M

J

J

A

S

O

N

D

J

F

M

Apr 6,367,000 6,302,000

May 6,411,000 6,215,000

Jun

6,401,000 6,200,000

Jul

6,768,000 6,127,000

Aug 6,208,000 6,256,000

Sep

6,591,000 6,343,000

Oct

6,642,000 6,312,000

Nov 6,580,000 6,801,000

Dec 6,820,000 6,518,000

Jan

6,282,000 6,472,000

Feb

6,473,000 6,674,000

Mar 6,483,000 6,692,000

Cobb Community Transit Passengers

151

1998-99

1999-2000

THOUSANDS

139

Monthly Data

Seasonally Adjusted

Month 1998-99 1999-2000
126

Apr

109,836 120,255

May

107,375 116,824

Jun

110,586 122,042

114

Jul

112,720 119,589

Aug

102,183 133,843

Sep

108,186 131,963

Oct

112,243 124,493

101

Nov

114,752 124,799

Dec

110,541 127,484

Jan

109,321 128,245

Feb

116,632 138,327

89

Mar

122,030 134,681

A

M

J

J

A

S

O

N

D

J

F

M

12 Metro Atlanta Economic Indicators / May 2000

Georgia Department of Labor

Residential Construction

6200

1998-99

1999-2000

HOUSEHOLD UNITS

5640

Monthly Data

Seasonally Adjusted

Month

5080

Apr

May

Jun

4520

Jul

Aug

Sep

Oct

3960

Nov

Dec

Jan

Feb

3400

Mar

A

M

J

J

A

S

O

N

D

J

F

M

1998-99 1999-2000

4,434 4,696 4,311 4,502 4,954 5,066 5,528 5,356 5,498 4,718 5,136 4,674

4,875 4,081 4,612 4,764 4,506 4,521 4,363 4,856 4,839 5,570 5,300 5,426

Nonresidential Construction

$507

1998-99 1999-2000

MILLIONS

$447

Monthly Data

Seasonally Adjusted

Month 1998-99 1999-2000
$386

Apr 270,387,000 334,375,000

May 326,122,000 302,286,000

Jun 289,648,000 330,296,000

$326

Jul 296,386,000 365,816,000

Aug 380,991,000 343,299,000

Sep 429,746,000 316,451,000

Oct 367,468,000 271,333,000

$265

Nov 385,445,000 270,543,000

Dec 273,917,000 294,607,000

Jan 371,661,000 309,639,000

Feb 330,348,000 275,183,000

$205

Mar 489,631,000 309,713,000

A

M

J

J

A

S

O

N

D

J

F

M

Deflated Nonresidential Construction

$413

1998-99

1999-2000

MILLIONS

$362
Monthly Data
Seasonally Adjusted

Month

1998-99 1999-2000

$310

Apr 224,574,000 266,222,000

May 270,416,000 240,100,000

Jun 238,589,000 260,281,000

$259

Jul 243,139,000 286,915,000

Aug 311,267,000 269,254,000

Sep 351,100,000 247,227,000

Oct 299,485,000 211,319,000

$207

Nov 312,861,000 210,212,000

Dec 220,901,000 228,732,000

Jan 298,523,000 239,659,000

Feb 264,702,000 212,661,000

$156

Mar 389,524,000 239,345,000

A

M

J

J

A

S

O

N

D

J

F

M

Georgia Department of Labor

Metro Atlanta Economic Indicators / May 2000 13

Hotel Occupancy

67.3

1998-99

1999-2000

66.4

65.4

PERCENTAGES

64.5

63.5

62.6

A

M

J

J

A

S

O

N

D

J

F

M

Average Hotel Room Rates

$95

1998-99

1999-2000

$90

$86

DOLLARS

$81

$77

$72

A

M

J

J

A

S

O

N

D

J

F

M

Deflated Average Hotel Room Rates

$56

1998-99

1999-2000

$54

$51

DOLLARS

$49

$46

$44

A

M

J

J

A

S

O

N

D

J

F

M

14 Metro Atlanta Economic Indicators / May 2000

Monthly Data
Seasonally Adjusted

Month 1998-99 1999-2000

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

65.3%

66.1%

Oct

65.7%

66.0%

Nov

64.4%

66.3%

Dec

64.8%

65.2%

Jan

65.3%

66.1%

Feb

65.6%

63.7%

Mar

65.4%

63.8%

Monthly Data
Seasonally Adjusted

Month 1998-99

Apr

78.27

May

78.31

Jun

77.75

Jul

76.86

Aug

77.54

Sep

77.47

Oct

79.65

Nov

79.86

Dec

84.99

Jan

79.19

Feb

80.54

Mar

80.38

1999-2000
79.00 80.31 78.99 77.68 79.24 81.80 81.85 86.13 86.97 89.79 80.70 80.62

Monthly Data
Seasonally Adjusted

Month 1998-99 1999-2000

Apr

48.17

47.53

May

48.10

48.32

Jun

47.70

47.53

Jul

47.10

46.60

Aug

47.45

47.42

Sep

47.35

48.72

Oct

48.57

48.66

Nov

48.70

51.18

Dec

51.85

51.68

Jan

48.20

53.22

Feb

48.96

47.55

Mar

48.72

47.12

Georgia Department of Labor

Average 30-Year Fixed Mortgage Rate*
9
1998-99 1999-2000

8.4

PERCENTAGES

7.8

7.2

6.6

6

A

M

J

J

A

S

O

Average 15-Year Fixed Mortgage Rate*
8.55
1998-99 1999-2000

N

D

J

F

M

* Does not include points

Monthly Data
Not Seasonally Adjusted

Month
Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar

1998-99
7.10% 7.10% 6.99% 6.93% 5.92% 6.72% 6.78% 6.91% 6.72% 6.78% 6.79% 7.00%

1999-2000
6.89% 7.09% 7.56% 7.68% 8.03% 7.90% 7.86% 7.72% 8.04% 8.19% 8.37% 8.28%

7.98

PERCENTAGES

7.41

6.84

6.27

5.7

A

M

J

J

A

S

O

N

D

J

F

M

* Does not include points

Average One-Year Adjustable Mortgage Rate*

7.60

1998-99

1999-2000

Monthly Data
Not Seasonally Adjusted

Month

1998-99 1999-2000

Apr

6.72%

6.47%

May

6.70%

6.69%

Jun

6.65%

7.17%

Jul

6.61%

7.23%

Aug

6.58%

7.55%

Sep

6.39%

7.48%

Oct

6.35%

7.45%

Nov

6.42%

7.35%

Dec

6.39%

7.65%

Jan

6.34%

7.78%

Feb

6.35%

7.96%

Mar

6.58%

7.87%

Monthly Data

7.01

Not Seasonally Adjusted

Month

1998-99 1999-2000

PERCENTAGES

6.42

Apr

May

Jun

5.83

Jul Aug

Sep

Oct

5.24

Nov Dec

Jan

Feb

4.65

Mar

A

M

J

J

A

S

O

N

D

J

F

M

* Does not include points

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% 6.90%

Georgia Department of Labor

Metro Atlanta Economic Indicators / May 2000 15

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