Metro Atlanta economic indicators, monthly report, Vol. 3, no. 8 (Oct. 2000)

AT L A N TA

METROPOLITAN
Economic

Indicators

A Monthly Report of Atlanta Labor Market and Economic Trends

October 2000

Volume 3, Issue 8

Georgia Department of Labor
Michael L. Thurmond Commissioner

Metro Ro ckda le

P ic k e n s Bartow Cherokee Forsyth

Cobb P a u ld in g

Gwinnett Barrow

C a r r o ll

Douglas Fulton DeKalb
Cla yton

W alton Newton

Fa ye tte
Coweta

Henry

S p ald in g

Atlanta
Economic
Indicators
Monthly Report Volume 3, Issue 8 October 2000

August 2000 Data

Cover art: The Big Chicken, 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

Georgia Department of Labor
Michael L. Thurmond, Commissioner
Metro Atlanta Economic Indicators / October 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, adapted from commentary by Michael Wald
Residential Construction and U.S. Construction Price Index -- U.S. Department of Commerce
Nonresidential Construction -- F.W. Dodge, McGraw-Hill Construction Information Group
MARTA Passengers -- Metropolitan Atlanta Rapid Transit System
Cobb Community Transit Passengers -- Cobb Community Transit System
Hotel Occupancy and Room Rates -- Smith Travel Research, Hendersonville, TN
Average 30-Year and Average 15-Year Fixed Mortgage Rates and Average One-Year Adjustable Mortgage Rate -- HSH Associates, Financial Publishers, Butler, NJ

2 Metro Atlanta Economic Indicators / October 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 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000

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

160.8 164.0 169.8

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
154.7 158.3 162.0 164.8 170.9

64.7 71.9 81.7 91.6 98.0 100.8 104.8 109.9 112.4
161.9 165.9 171.9

60.7 65.9 73.2 83.0 93.3 98.8 100.9 105.4 110.4 112.7
162.0 166.5

61.2 7.4 65.9 7.7 74.0 12.3 85.7 15.8
93.6 9.2 98.2 4.9 101.9 3.8 105.5 3.5 111.2 5.4
113.5 2.1 117.5 3.5 121.7 3.6 127.3 4.6 132.6 4.2
136.2 2.7 138.5 1.7 144.7 4.5 146.7 1.4 151.5 3.3
157.2 3.8 159.5 1.5 161.6 1.4 167.0 3.3

U.S. Bureau of Labor Statistics

Atlanta CPI Grew 0.5 Percent in July / August

The Consumer Price Index for All Urban Consumers (CPI-U) for Atlanta increased 0.5 percent since June 2000 to a level of 171.9 (1982-84=100), not seasonally adjusted, according to data released by the U.S. Department of Labor's Bureau of Labor Statistics. During the previous 12 months, prices in Atlanta increased 3.6 percent, while prices in the South region rose 3.3 percent.
For the two-month period ending in August 2000, the food and beverages index rose 0.2 percent after declining 0.6 percent in the two months ending in June. The increase was due to higher costs for food at home which increased 0.5 percent over the two months compared to a 0.2 percent rise in costs for food away from home. Housing costs rose a more moderate 0.7 percent in the July-August pricing period after
Georgia Department of Labor

The formula

Following is the formula for figur-

ing Consumer Price Index changes

from one point in time to another.

Index point change

CPI Less previous index Equals index point change

112.5 108.5
4.0

Percentage change

Index point difference

4.0

Divide by the previous index 108.5

Equals

0.037

Results multiplied by 100 0.037x100

Equals percent change

3.7%

increasing 2.0 percent in the previous pricing period. Costs for shelter rose 0.4 percent, while fuels and utilities costs rose 3.7 percent. The 3.7 percent rise in fuels and utilities costs was a

much smaller increase than the 14.3 percent rise recorded in the May-June pricing period.
Transportation costs declined 0.6 percent reflecting a 3.4 percent drop in motor fuel costs. The drop in motor fuel costs partially offset the 5.7 percent increase in motor fuel prices during May and June.
The apparel index, which is subject to large bi-monthly fluctuations, declined 1.7 percent over two months after dropping 4.9 percent in the May-June period. With the most recent decline, the index has now decreased 3.6 percent for the 12 months ending in August. Among other indexes reported, medical care costs increased 1.8 percent over the current two-month period. Education and communication costs rose 1.6 percent.
Energy costs rose 1.0 percent in the most recent pricing period.

Metro Atlanta Economic Indicators / October 2000 3

Trends in Labor Force Demand

35

30

Percentage of Total Nonag Employment

25

1980

20

1990

1999

15

10

5

0 Construction

M anufacturing

Se rv ice s

Re tail

Government

Labor Force Demand: Shifting with Time, Technology

The skills required of the labor force shift in Atlanta, as in all of Georgia, along with change in economic and technology trends. As depicted by the graph above, some sectors have declined in activity and labor demand, while others have skyrocketed.
Each of the industry segments illustrated shows a growth or decline over time relative to total nonagricultural payroll employment. The most significant shift can be seen in the services sector. Both the subcategories of business and health services have fueled demand in this segment of the labor force.
Clearly, the growth of Internet businesses and related support services has shaped the demand for labor skilled in information techonolgies including programmers, broadband technicians, and support services. From 1995 until 1999, business services grew an

impressive 114 percent. The changing nature of managed health care has had an impact on health and hospital services employment. Since the mid-1990's, health services employment has grown 66.5 percent. Since the recession years of the early 1990's and the shift in production brought about by the North American Free Trade Agreement, manufacturing employment, as a percentage of total employment, has shown steady decline. Some manufacturing activities, such as textiles and apparel, continue to play a role in the local economy and labor demand, although their capacity and output has declined over the last ten years. Other manufacturing, such as glass and steel production, has virtually vanished from the local market. The burgeoning economy has proved beneficial to retail trade. New malls and healthy competition among retail chains have continued to make retail trade a

strong segment of total employment. Construction continues to provide a
consistent demand for labor, especially in residential construction. Total building permits for residential construction issued annually has grown from 26,636 in 1980, to 61,046 in 1999, or 129.2 percent.
Nonresidential construction has also seen significant growth over the last five years. The number of nonresidential construction projects in 1995 was 4,399. By 1999, the number of annual projects was 5,160, an increase of 17.3 percent.
Legislative moves, such as permanent normal trade relations granted to China, and the flux of emmerging technologies will continue shape the demand for skilled labor in Atlanta. Initiatives like Yammacraw, an $11 billion broadband project, and other job training programs are necessary to ensure that Geogia's labor force is prepared to meet the demand of the future.

4 Metro Atlanta Economic Indicators / October 2000

Georgia Department of Labor

Data Summary
August 2000

Metro Atlanta Economic Indicators

August 2000

July 2000

August 1999

Percent Percent Change Change

July 2000 Aug 1999

to

to

Aug 2000 A ug 2000

Nonagricultural Employment

2,239,000

Wholesale Employment

182,200

Retail Employment

407,900

Services Employment

697,200

Manufacturing Employment

228,500

Government Employment

268,100

Construction Employment

114,400

Transp. & Pub. Utilities Employment

192,800

Finance, Insurance & Realty Employment

139,500

Business Services Employment

230,200

Health Services Employment

129,900

Social Services Employment

27,584

Manufacturing Workweek

39.5

Manufacturing Earnings

$544.12

Deflated Manufacturing Earnings

$315.07

Initial Unemployment Claims

7,614

Continued Unemployment Claims

55,635

Total Unemployment Rate

2.8%

Insured Unemployment Rate

0.68%

MARTA Passengers

6,672,000

Cobb County Transit Passengers

136,136

Residential Construction (household units)

5,053

Nonresidential Construction (value)

$244,521,000

Deflated Nonresidential Construction

$213,929,134

Hotel Occupancy

66.6%

Average Hotel Room Rates

$80.97

Deflated Average Hotel Room Rate

$46.88

Average 30-Year Fixed Mortgage Rate

8.04%

Average 15-Year Fixed Mortgage Rate

7.78%

Average One-Year Adjustable Mortgage Rate

7.35%

Georgia Department of Labor

2,238,000 181,900 407,900 695,400 228,200 269,700 115,900 191,400 139,200 231,100 129,400 27,247 39.5 $543.18 $314.70 6,738 62,108 2.8% 0.65%
6,167,000 132,133 5,307
$288,076,000 $252,255,692
66.0% $81.92 $47.88 8.16% 7.87% 7.26%

2,166,000 178,400 390,200 669,800 226,400 261,600 115,400 185,100 136,900 230,000 124,300 25,950 40.8 $544.21 $325.68 6,075 58,156 3.1% 0.63%
6,249,000 139,813 4,679
$357,352,000 $322,519,856
63.7% $79.80 $47.76 8.03% 7.55% 6.26%

0.04 0.16 0.00 0.26 0.13 -0.59 -1.29 0.73 0.22 -0.39 0.39 1.24 0.00 0.17 0.12 13.00 -10.42
8.19 3.03 -4.79 -15.12 -15.19 -1.16 -2.09 -

3.37 2.13 4.54 4.09 0.93 2.48 -0.87 4.16 1.90 0.09 4.51 6.30 -3.19 -0.02 -3.26 25.33 -4.33
6.77 -2.63 7.99 -31.57 -33.67 1.47 -1.84 -

Metro Atlanta Economic Indicators / October 2000 5

Nonagricultural Employment

2.3

1998-99

1999-2000

MILLIONS

2.3

Monthly Data

Seasonally Adjusted

Month

1998-99 1999-2000

2.2

Sep

2,061,000 2,173,000

Oct

2,070,000 2,186,000

Nov

2,077,000 2,192,000

2.1

Dec

2,081,000 2,197,000

Jan

2,096,000 2,206,000

Feb

2,107,000 2,207,000

Mar

2,116,000 2,218,000

2.0

Apr

2,126,000 2,227,000

May

2,137,000 2,232,000

Jun

2,146,000 2,235,000

Jul

2,155,000 2,238,000

2.0

Aug

2,166,000 2,239,000

S

O

N

D

J

F

M

A

M

J

J

A

Wholesale Employment

186.6

1998-99

1999-2000

THOUSANDS

182.8

Monthly Data
Seasonally Adjusted

178.9

Month

1998-99 1999-2000

Sep

Oct

Nov

175.0

Dec

Jan

Feb

Mar

171.2

Apr

May

Jun

Jul

167.3

Aug

S

O

N

D

J

F

M

A

M

J

J

A

171,700 171,700 171,900 172,100 173,300 173,700 174,400 175,300 176,200 176,600 177,800 178,400

179,100 179,100 179,400 179,400 178,800 179,500 179,700 180,400 180,800 181,300 181,900 182,200

Retail Employment

428.9

1998-99

1999-2000

413.0

Monthly Data
Seasonally Adjusted

THOUSANDS

397.1

Month

1998-99 1999-2000

Sep

Oct

Nov

381.3

Dec

Jan

Feb

Mar

365.4

Apr

May

Jun

Jul

349.6

Aug

S

O

N

D

J

F

M

A

M

J

J

A

370,200 371,400 373,000 372,200 375,500 378,500 379,600 379,300 382,600 385,100 387,500 390,200

391,300 397,400 397,000 397,600 402,100 402,500 404,200 407,100 405,700 405,100 407,900 407,900

6 Metro Atlanta Economic Indicators / October 2000

Georgia Department of Labor

Services Employment

732.1

1998-99

1999-2000

701.6

Monthly Data
Seasonally Adjusted

THOUSANDS

Month

1998-99 1999-2000

671.2

Sep

615,200 670,700

Oct

618,600 678,300

Nov

620,300 681,900

640.8

Dec

621,500 685,200

Jan

632,200 684,100

Feb

636,200 685,500

Mar

643,700 688,400

610.3

Apr

651,600 690,300

May

655,900 691,100

Jun

661,300 691,600

Jul

664,100 695,400

579.9

Aug

S

O

N

D

J

F

M

A

M

J

J

A

669,800 697,200

Manufacturing Employment

230.1

1998-99

1999-2000

THOUSANDS

228.9

Monthly Data
Seasonally Adjusted

227.6

Month

1998-99 1999-2000

Sep

Oct

Nov

226.3

Dec

Jan

Feb

Mar

225.1

Apr

May

Jun

Jul

223.8

Aug

S

O

N

D

J

F

M

A

M

J

J

A

225,400 226,400 226,900 226,600 226,200 226,700 226,400 227,100 227,400 227,500 225,700 226,400

226,300 226,400 226,800 226,800 227,300 227,800 227,800 228,300 228,200 228,300 228,200 228,500

Government Employment

278.7

1998-99

1999-2000

THOUSANDS

273.1

Monthly Data
Seasonally Adjusted

Month

1998-99 1999-2000

267.6

Sep

Oct

Nov

262.0

Dec

Jan

Feb

Mar

256.4

Apr

May

Jun

Jul

250.9

Aug

S

O

N

D

J

F

M

A

M

J

J

A

261,400 260,900 261,700 261,100 261,500 259,900 258,600 258,200 257,900 258,700 260,700 261,600

264,100 264,000 264,400 265,700 266,800 268,500 270,500 272,000 271,600 270,800 269,700 268,100

Georgia Department of Labor

Metro Atlanta Economic Indicators / October 2000 7

Construction Employment

126.1

1998-99

1999-2000

THOUSANDS

120.2

Monthly Data
Seasonally Adjusted

Month 1998-99 1999-2000

114.3

Sep

104,400

116,100

Oct

106,000

117,600

Nov

106,800

117,600

108.4

Dec

108,200

117,900

Jan

109,600

118,200

Feb

111,000

117,300

Mar

111,200

118,300

102.4

Apr

112,500

117,400

May

112,900

118,200

Jun

113,500

117,300

Jul

114,600

115,900

96.5

Aug

115,400

114,400

S

O

N

D

J

F

M

A

M

J

J

A

Transportation and Public Utilities Employment

200.4

1998-99

1999-2000

THOUSANDS

194.2

Monthly Data
Seasonally Adjusted

Month 1998-99 1999-2000
188.1

Sep

Oct

Nov

181.9

Dec

Jan

Feb

Mar

175.8

Apr

May

Jun

Jul

169.6

Aug

S

O

N

D

J

F

M

A

M

J

J

A

176,700 178,000 179,700 180,500 180,000 181,300 181,600 182,800 183,300 183,500 184,500 185,100

185,900 186,000 186,100 186,500 187,900 187,900 190,000 189,700 190,400 191,600 191,400 192,800

Finance, Insurance and Realty Employment

141.6

1998-99

1999-2000

THOUSANDS

139.8

Monthly Data
Seasonally Adjusted

Month 1998-99 1999-2000
138.0

Sep

Oct

Nov

136.2

Dec

Jan

Feb

Mar

134.4

Apr

May

Jun

Jul

132.6

Aug

S

O

N

D

J

F

M

A

M

J

J

A

134,600 136,100 136,200 136,800 136,200 136,800 136,700 136,500 137,200 138,000 137,000 136,900

137,300 137,200 137,500 137,300 138,300 137,800 138,000 138,100 137,900 138,200 139,200 139,500

8 Metro Atlanta Economic Indicators / October 2000

Georgia Department of Labor

Business Services Employment

248.0

1998-99

1999-2000

237.0

Monthly Data
Seasonally Adjusted

THOUSANDS

Month

226.1
Sep

Oct Nov

215.1

Dec

Jan

Feb

204.1

Mar Apr May Jun

Jul

193.2

Aug

S

O

N

D

J

F

M

A

M

J

J

A

1998-99 1999-2000

207,200 207,700 209,100 213,400 217,900 220,700 220,500 222,800 223,200 225,900 226,700 230,000

229,300 231,900 234,700 234,000 230,600 230,200 231,600 232,400 230,300 228,600 231,100 230,200

Health Services Employment

137.1

1998-99

1999-2000

THOUSANDS

131.3

Monthly Data
Seasonally Adjusted

125.5

Month

Sep

Oct

Nov

119.7

Dec

Jan

Feb

Mar

113.9

Apr

May

Jun

Jul

108.1

Aug

S

O

N

D

J

F

M

A

M

J

J

A

1998-99 1999-2000

114,900 114,700 114,700 114,700 116,400 116,000 118,500 120,500 123,100 123,500 123,900 124,300

124,800 126,100 125,900 127,000 127,600 128,200 128,100 128,400 128,800 128,700 129,400 129,900

Social Services Employment

29.6

1998-99

1999-2000

THOUSANDS

28.1

Monthly Data

Seasonally Adjusted

Month

26.5

Sep

Oct

Nov

25.0

Dec

Jan

Feb

Mar

23.4

Apr

May

Jun

Jul

21.9

Aug

S

O

N

D

J

F

M

A

M

J

J

A

1998-99 1999-2000

23,676 23,857 23,857 24,227 24,559 24,900 25,156 25,325 25,428 25,585 25,688 25,950

26,120 26,584 26,970 26,939 27,327 27,442 27,283 26,979 27,330 27,114 27,247 27,584

Georgia Department of Labor

Metro Atlanta Economic Indicators / October 2000 9

Manufacturing Workweek

42.8

1998-99

1999-2000

HOURS

41.9

Monthly Data

Seasonally Adjusted

Month

1998-99 1999-2000

41.1

Sep

41.7

40.7

Oct

41.6

40.2

Nov

41.6

40.7

40.2

Dec

41.4

40.2

Jan

41.0

40.5

Feb

41.2

40.4

Mar

41.1

40.6

39.3

Apr

41.1

40.3

May

41.2

40.1

Jun

40.9

40.0

Jul

41.1

39.5

38.5

Aug

S

O

N

D

J

F

M

A

M

J

J

A

40.8

39.5

Manufacturing Earnings

$568

1998-99

1999-2000

DOLLARS

$557

Monthly Data

Seasonally Adjusted

Month

1998-99 1999-2000

$547

Sep

Oct

Nov

$536

Dec

Jan

Feb

Mar

$526

Apr

May

Jun

Jul

$516

Aug

S

O

N

D

J

F

M

A

M

J

J

A

$527.91 536.58 535.36 531.03 527.26 536.10 539.58 541.29 544.63 545.37 547.89 544.21

$554.21 549.81 551.72 547.17 554.19 549.61 553.64 548.60 543.16 546.25 543.18 544.12

Deflated Manufacturing Earnings

$337

1998-99

1999-2000

DOLLARS

$331

Monthly Data

Seasonally Adjusted

Month

1998-99 1999-2000

$325

Sep

Oct

Nov

$320

Dec

Jan

Feb

Mar

$314

Apr

May

Jun

Jul

$308

Aug

S

O

N

D

J

F

M

A

M

J

J

A

$322.68 327.18 326.44 324.00 320.91 325.90 327.02 325.69 327.70 328.14 328.67 325.68

$330.08 326.88 327.82 325.12 328.51 323.87 323.58 320.44 317.08 317.03 314.70 315.07

10 Metro Atlanta Economic Indicators / October 2000

Georgia Department of Labor

Initial Unemployment Claims

8.3

1998-99

1999-2000

THOUSANDS

7.7
Monthly Data
Seasonally Adjusted

Month
7.1

Sep

Oct

Nov

6.5

Dec

Jan

Feb

Mar

5.9

Apr

May

Jun

Jul

5.3

Aug

S

O

N

D

J

F

M

A

M

J

J

A

1998-99 1999-2000

7,262 6,647 6,383 6,532 6,595 6,339 6,935 6,876 5,995 6,016 6,729 6,075

6,119 6,594 6,744 6,287 6,462 7,104 6,313 6,322 7,214 7,466 6,738 7,614

Continued Unemployment Claims

67.9

1998-99

1999-2000

THOUSANDS

62.5

Monthly Data

Seasonally Adjusted

Month
57.2

Sep

Oct

Nov

51.8

Dec

Jan

Feb

Mar

46.4

Apr

May

Jun

Jul

41.0

Aug

S

O

N

D

J

F

M

A

M

J

J

A

1998-99 1999-2000

53,234 48,845 55,281 48,641 48,095 52,106 55,010 53,412 52,101 56,833 47,305 58,156

55,181 55,617 61,472 51,409 60,386 56,257 47,656 55,740 56,551 52,629 62,108 55,635

Total Unemployment Rate

3.4

1998-99

1999-2000

PERCENTAGES

3.2

Monthly Data

Seasonally Adjusted

Month
3.1

Sep

Oct

Nov

2.9

Dec

Jan

Feb

Mar

2.8

Apr

May

Jun

Jul

2.6

Aug

S

O

N

D

J

F

M

A

M

J

J

A

1998-99 1999-2000

3.1% 3.1 3.1 3.1 3.1 3.2 3.1 3.1 3.1 3.1 3.0 3.2

3.0% 2.9 2.9 2.9 2.9 2.8 2.9 2.9 2.9 2.9 3.1 3.1

Georgia Department of Labor

Metro Atlanta Economic Indicators / October 2000 11

iInsured Unemployment Rate

0.71

1998-99

1999-2000

0.68

PERCENTAGES

0.65

0.63

0.60

0.57

S

O

N

D

J

F

M

A

M

J

MMARTA Passengers

7.3

1998-99

1999-2000

J

A

Monthly Data
Seasonally Adjusted

Month 1998-99 1999-2000

Sep

0.60%

0.64%

Oct

0.60

0.65

Nov

0.60

0.64

Dec

0.62

0.65

Jan

0.62

0.66

Feb

0.64

0.63

Mar

0.64

0.63

Apr

0.63

0.64

May

0.63

0.65

Jun

0.62

0.66

Jul

0.62

0.65

Aug

0.63

0.68

MILLIONS

7.0
Monthly Data
Seasonally Adjusted

6.6

Month 1998-99 1999-2000

6.3

6.0

5.6

S

O

N

D

J

F

M

A

M

J

J

A

Sep

6,587,000 6,333,000

Oct

6,641,000 6,308,000

Nov 6,573,000 6,789,000

Dec 6,810,000 6,502,000

Jan

6,278,000 6,466,000

Feb

6,456,000 6,652,000

Mar 6,465,000 6,672,000

Apr 6,383,000 6,342,000

May 6,197,000 6,646,000

Jun

6,081,000 6,927,000

Jul

6,252,000 6,167,000

Aug 6,249,000 6,672,000

Cobb Community Transit Passengers

189.1

1998-99

1999-2000

167.6

146.2

THOUSANDS

124.7

103.3

81.8

S

O

N

D

J

F

M

A

M

J

12 Metro Atlanta Economic Indicators / October 2000

J

A

Monthly Data
Seasonally Adjusted

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

1998-99
109,016 112,238 117,272 110,878 110,121 116,920 126,477 111,134 111,387 121,590 121,979 139,813

1999-2000
132,156 125,438 126,960 139,288 135,618 138,843 140,051 160,673 145,732 143,805 132,133 136,136

Georgia Department of Labor

Residential Construction

6.4

1998-99

1999-2000

HOUSEHOLD UNITS

5.8

Monthly Data

Seasonally Adjusted

Month 1998-99 1999-2000

5.3

Sep

5,091

4,540

Oct

5,555

4,380

Nov

5,382

4,947

4.8

Dec

5,570

4,892

Jan

4,751

5,607

Feb

5,107

5,317

Mar

4,698

5,461

4.3

Apr

4,730

5,728

May

4,759

5,699

Jun

4,695

5,558

Jul

4,861

5,307

3.7

Aug

S

O

N

D

J

F

M

A

M

J

J

A

4,679

5,053

Nonresidential Construction

$652

1998-99

1999-2000

MILLIONS

$542

Monthly Data

Seasonally Adjusted

Month

1998-99 1999-2000

$433

Sep $426,736,000 $313,705,000

Oct 354,784,000 260,770,000

Nov 387,313,000 271,524,000

$324

Dec 273,635,000 311,535,000

Jan 380,755,000 317,724,000

Feb 342,443,000 286,472,000

Mar 513,651,000 326,713,000

$214

Apr 367,806,000 338,106,000

May 330,107,000 352,125,000

Jun 310,783,000 469,294,000

Jul 381,945,000 288,076,000

$105

Aug 357,352,000 244,521,000

S

O

N

D

J

F

M

A

M

J

J

A

Deflated Nonresidential Construction

$602

1998-99

1999-2000

MILLIONS

$501
Monthly Data
Seasonally Adjusted

Month

1998-99 1999-2000

$400

Sep $400,315,197 $282,871,957

Oct 331,573,832 234,084,381

Nov 360,626,629 242,648,794

$298

Dec 253,600,556 277,413,179

Jan 350,926,267 281,670,213

Feb 315,325,046 253,290,893

Mar 471,672,176 288,360,989

$197

Apr 336,510,522 297,366,755

May 300,643,898 309,152,766

Jun 281,506,341 411,300,613

Jul 345,339,060 252,255,692

$96

Aug 322,519,856 213,929,134

S

O

N

D

J

F

M

A

M

J

J

A

Georgia Department of Labor

Metro Atlanta Economic Indicators / October 2000 13

Hotel Occupancy

69.0

1998-99

1999-2000

67.2

PERCENTAGES

65.4

63.6

61.8

60.0

S

O

N

D

J

F

M

A

M

J

J

A

Average Hotel Room Rates

$91

1998-99

1999-2000

$87

$84

DOLLARS

$80

$77

$73

S

O

N

D

J

F

M

A

M

J

J

A

Deflated Average Hotel Room Rates

$55

1998-99

1999-2000

$52

$50

DOLLARS

$47

$45

$42

S

O

N

D

J

F

M

A

M

J

J

A

14 Metro Atlanta Economic Indicators / October 2000

Monthly Data
Seasonally Adjusted

Month 1998-99 1999-2000

Sep

65.30%

66.00%

Oct

65.70

65.90

Nov

64.40

66.30

Dec

64.80

65.10

Jan

65.40

66.10

Feb

65.70

63.90

Mar

65.60

64.00

Apr

66.40

62.30

May

66.70

63.70

Jun

64.20

65.80

Jul

65.00

66.00

Aug

63.70

66.60

Monthly Data
Seasonally Adjusted

Month 1998-99 1999-2000

Sep

$77.22

$81.48

Oct

78.91

81.01

Nov

79.01

85.06

Dec

83.89

85.69

Jan

80.01

82.66

Feb

79.59

79.61

Mar

79.62

79.76

Apr

77.14

81.02

May

79.35

77.97

Jun

77.09

79.25

Jul

78.07

81.92

Aug

79.80

80.97

Monthly Data
Seasonally Adjusted

Month 1998-99

Sep

$47.20

Oct

48.12

Nov

48.18

Dec

51.18

Jan

48.70

Feb

48.38

Mar

48.25

Apr

46.41

May

47.74

Jun

46.38

Jul

46.83

Aug

47.76

1999-2000
$48.53 48.16 50.54 50.92 49.00 46.91 46.62 47.32 45.52 46.00 47.46 46.88

Georgia Department of Labor

Average 30-Year Fixed Mortgage Rate*
9.37
1998-99 1999-2000

8.68

PERCENTAGES

7.98

7.29

6.59

5.90

S

O

N

D

J

F

M

Average 15-Year Fixed Mortgage Rate*
9.10
1998-99 1999-2000

A

M

J

J

A

* Does not include points

Monthly Data
Not Seasonally Adjusted

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

1998-99 1999-2000

6.72% 6.78 6.91 6.72 6.78 6.79 7.00 6.89 7.09 7.56 7.68 8.03

7.90% 7.86 7.72 8.04 8.19 8.37 8.28 8.12 8.55 8.26 8.16 8.04

8.38

PERCENTAGES

7.66

6.95

6.23

5.51

S

O

N

D

J

F

M

A

M

J

J

A

* Does not include points

Average One-Year Adjustable Mortgage Rate*

8.28

1998-99

1999-2000

Monthly Data
Not Seasonally Adjusted

Month

1998-99 1999-2000

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

Apr

6.47

7.78

May

6.69

8.27

Jun

7.17

8.01

Jul

7.23

7.87

Aug

7.55

7.78

Monthly Data

7.51

Not Seasonally Adjusted

PERCENTAGES

6.73

5.96

5.19

4.42

S

O

N

D

J

Month

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

F

M

A

M

J

J

A

* Does not include points

1998-99 1999-2000

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 6.82 7.09 7.22 7.26 7.35

Georgia Department of Labor

Metro Atlanta Economic Indicators / October 2000 15

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