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 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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