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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