Metro Atlanta economic indicators, monthly report, Vol. 3, no. 9 (Nov. 2000)

AT L A N TA

METROPOLITAN
Economic

Indicators

A Monthly Report of Atlanta Labor Market and Economic Trends

November 2000

Volume 3, Issue 9

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 9 November 2000

September 2000 Data

Cover art: Gwinnett County Courthouse, 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 / November 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 / November 2000

Georgia Department of Labor

Consumer Price Index for the South

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

Jan
110.2 114.1 118.9 124.6 131.4 134.4 138.4 142.5 146.7 151.1 155.7 157.6 159.9 164.0

Feb
62.4 68.9 78.5 87.8 95.1 98.0 102.4 105.7 108.9 110.7 114.4 119.2 125.4 131.7 134.9 139.1 142.9 147.4 151.5 156.1 157.8 160.0 164.7

Mar 58.9
111.1 114.8 119.8 126.0 131.9 135.5 139.7 143.6 148.0 152.4 156.5 158.2 160.6 166.4

Apr
63.5 70.3 80.6 89.0 94.7 98.8 103.1 106.4 107.9 111.5 115.4 120.8 126.1 132.1 135.9 140.2 143.8 148.4 153.2 156.7 158.5 161.5 166.6

May
111.8 115.6 121.3 126.5 132.5 136.2 140.7 144.3 148.8 153.5 156.6 158.8 161.6 166.6

Jun 60.1 64.9 72.2 82.2 90.4 97.0 99.6 103.6 107.1 108.7 112.2 116.1 121.7 127.3 132.8 136.7 140.8 144.7 149.1 154.0 157.0 159.1 161.7 167.4

Jul
112.6 116.6 122.0 127.8 133.0 136.8 140.9 145.0 149.2 154.0 157.0 159.3 162.2 167.9

Aug
65.9 73.6 82.7 91.9 97.6 100.2 104.3 107.6 108.7 112.9 117.0 122.1 128.7 133.3 137.0 141.5 145.5 149.7 154.1 157.1 159.5 162.6 168.0

Sep Oct Nov Dec Rate

61.0

61.6 7.1

66.8

67.7 9.9

75.0

76.3 12.7

84.2

85.8 12.5

93.0

94.3 9.9

98.0

97.8 3.7

101.2

101.3 3.6

105.1

105.3 3.9

108.3

108.7 3.2

109.4

109.7 0.9

113.5 113.8 114.1 114.0 3.9

117.7 118.2 118.3 118.5 3.9

122.5 123.0 123.2 123.4 4.1

129.7 130.7 130.9 130.9 6.1

133.8 134.1 134.4 134.3 2.6

137.3 137.8 138.1 137.9 2.7

141.6 142.2 142.3 142.2 3.1

145.8 145.9 146.0 146.1 2.7

149.8 150.5 150.4 150.3 2.9

154.5 154.9 155.1 155.1 3.2

157.5 157.8 157.8 157.3 1.4

159.5 159.8 159.6 159.6 1.5

163.2 163.6 163.5 163.6 2.5

168.5 Source: U.S. Bureau of Labor Statistics

CPI South increased 0.3 percent during September

The Consumer Price Index for All Urban Consumers (CPI-U) for the South, increased 0.3 percent in September, not seasonally adjusted, according to data released by the U.S. Department of Labor's Bureau of Labor Statistics. For the 12month period ended in September, the CPI-U for the South increased 3.2 percent to a level of 168.5
Among the major index groups, food and beverages prices rose 0.1 percent in September after increasing 0.3 percent in the previous month. Costs for both food at home and food away from home rose a similar 0.1 percent over the month.
Housing costs rose 0.1 percent during the month. The small
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%

increase reflected lower costs for shelter which decreased 0.2 percent in September. The slowdown occurred despite increases in the

fuels and utilities index, which moved up 1.4 percent in September.
The transportation index moved up 0.3 percent in September in contrast to its 1.1 percent decrease in August. As in recent months, motor fuel prices had a significant effect on the transportation index, as prices for motor fuel increased 1.8 percent over the month. In contrast, costs for new and used motor vehicles were unchanged in September. Medical care costs were unchanged in September. Medical care commodities declined 0.4 percent, offsetting an increase in services.
Apparel costs, which normally increase in September, rose at a slower pace this year. Over the month, apparel costs rose 2.3 percent.

Metro Atlanta Economic Indicators / November 2000 3

Metro Atlanta Index of Economic Indicators
174.6
Leading indicators Coincident indicators
152.4

130.1

107.9

85.7

1987-88 = 100

63.5

93

94

95

96

97

98

99

00

01

Leading Index increased 0.8 percent during September

Note: All indicators are seasonally adjusted.

***

149.4

The Georgia Department of

Recent 12 Months
Leading Coincident

Labor's Index of Leading Economic 146.1

Indicators for the Atlanta 142.8 Metropolitan Area increased 0.8

percent in September to a level of 139.5

143.84 from a revised 142.75, after 136.2
seasonal adjustment. Since

1993 = 100

December, the Index has grown 2.1 132.8

percent and the growth from September 1999 was 3.4 percent.
Key components of the Leading Index have been affected by inflation and shifts in interest rates during the last couple of months, but the metro economy continues to show signs of

The Leading Index reflects activity that will impact the economy for a duration of three to six months into the future. Coincident indicators measure current conditions.

strength.

Nonresidential construction helped increased by 80 percent from the

to push the Leading Index up, as the previous month's totals.

value of new commercial properties Residential construction also

rebounded, up 4.4 percent over August, after seasonal adjustment.
The continued economic activity pushed initial claims for unemployment down to 6,968 during September.
The Index of Coincident Indicators declined during September. The index, at 138.10 from a revised 138.49, fell 0.28 percent for the month, following a 1.0 percent drop in August. Despite low unemployment, productivity showed some decline and retail employment was unchanged for the month. This will likely reverse itself in October as stores hire more help for the holiday season.

4 Metro Atlanta Economic Indicators / November 2000

Georgia Department of Labor

Data Summary
September 2000

Metro Atlanta Economic Indicators

Sep 2000 Aug 2000

Sep 1999

Percent Change Aug 2000
to Sep 2000

Percent Change Sep 1999
to Sep 2000

Nonagricultural Employment

2,237,000

Wholesale Employment

181,700

Retail Employment

404,500

Services Employment

699,700

Manufacturing Employment

227,700

Government Employment

270,100

Construction Employment

119,700

Transp. & Pub. Utilities Employment

193,100

Finance, Insurance & Realty Employment

138,800

Business Services Employment

232,400

Health Services Employment

130,100

Social Services Employment

28,023

Manufacturing Workweek

39.5

Manufacturing Earnings

$542.20

Deflated Manufacturing Earnings

$312.15

Initial Unemployment Claims

6,968

Continued Unemployment Claims

62,309

Total Unemployment Rate

2.9%

Insured Unemployment Rate

0.65%

MARTA Passengers

6,452,000

Cobb County Transit Passengers

130,953

Residential Construction (household units)

5,263

Nonresidential Construction (value)

$433,761,000

Deflated Nonresidential Construction

$299,351,967

Hotel Occupancy

67.1%

Average Hotel Room Rates

$80.94

Deflated Average Hotel Room Rate

$46.60

Average 30-Year Fixed Mortgage Rate

7.95%

Average 15-Year Fixed Mortgage Rate

7.63%

Average One-Year Adjustable Mortgage Rate

7.34%

Georgia Department of Labor

2,233,000 181,500 404,600 694,200 227,700 271,200 120,600 192,300 139,100 230,700 129,400 27,690 39.8 $551.56 $319.19 7,584 56,065 3.1% 0.67%
6,651,000 132,460 5,042
$239,138,000 $208,489,974
66.7% $81.87 $47.38 8.04% 7.88% 7.35%

2,173,000 179,100 391,600 670,600 226,300 262,200 115,900 185,900 137,400 229,500 124,900 26,114 40.8 $546.11 $325.26 6,114 54,081 3.0% 0.63%
6,348,000 134,406 4,628
$303,386,000 $273,567,178
66.7% $79.79 $47.52 7.90% 7.48% 6.30%

0.18 0.11 -0.02 0.79 0.00 -0.41 -0.75 0.42 -0.22 0.74 0.54 1.20 -0.75 -1.70 -2.21 -8.12 11.14
-2.99 -1.14 4.38 81.39 43.58 -1.14 -1.65 -

2.95 1.45 3.29 4.34 0.62 3.01 3.28 3.87 1.02 1.26 4.16 7.31 -3.19 -0.72 -4.03 13.97 15.21
1.64 -2.57 13.72 42.97 9.43 1.44 -1.94 -

Metro Atlanta Economic Indicators / November 2000 5

Nonagricultural Employment

2.3

1998-99

1999-2000

MILLIONS

2.2

Monthly Data

Seasonally Adjusted

Month

1998-99 1999-2000

2.2

Nov

2,078,000

2,192,000

Dec

2,081,000

2,197,000

Jan

2,096,000

2,206,000

2.1

Feb

2,107,000

2,207,000

Mar

2,115,000

2,218,000

Apr

2,126,000

2,227,000

May

2,137,000

2,232,000

2.0

Jun

2,146,000

2,226,000

Jul

2,155,000

2,238,000

Aug

2,167,000

2,234,000

2.0

Sep

O

N

D

J

F

M

A

M

J

J

A

S

2,173,000

2,237,000

Wholesale Employment

186.6

1998-99

1999-2000

THOUSANDS

182.8

Monthly Data
Seasonally Adjusted

178.9

Month

Nov

Dec

Jan

175.0

Feb

Mar

Apr

171.2

May Jun

Jul

Aug

167.3

Sep

O

N

D

J

F

M

A

M

J

J

A

S

1998-99
172,000 172,200 173,300 173,700 174,400 175,200 176,200 176,500 177,600 178,400 179,000

1999-2000
179,500 179,500 178,900 179,400 179,700 180,300 180,700 181,200 181,200 181,400 182,100

Retail Employment

425.7

1998-99

1999-2000

411.1

Monthly Data
Seasonally Adjusted

THOUSANDS

396.5

Month

1998-99 1999-2000

Nov

Dec

Jan
381.9
Feb

Mar

Apr

367.3

May Jun

Jul

Aug

352.7

Sep

O

N

D

J

F

M

A

M

J

J

A

S

373,200 372,400 375,600 378,400 379,300 379,100 382,600 385,100 387,300 390,800 392,100

397,200 397,800 402,300 402,400 404,000 406,900 405,700 405,100 407,700 404,900 404,500

6 Metro Atlanta Economic Indicators / November 2000

Georgia Department of Labor

Services Employment

738.2

1998-99

1999-2000

706.5

Monthly Data
Seasonally Adjusted

THOUSANDS

Month

1998-99

1999-2000

674.9

Nov

621,600

685,300

Dec

632,300

684,200

Jan

636,300

685,700

643.2

Feb

643,700

688,600

Mar

651,500

690,200

Apr

655,700

690,800

611.5

May

660,900

691,100

Jun

663,600

694,800

Jul

670,100

693,600

579.9

Aug

O

N

D

J

F

M

A

M

J

J

A

S

670,900

696,000

Manufacturing Employment

229.5

1998-99

1999-2000

THOUSANDS

228.6

Monthly Data
Seasonally Adjusted

227.7

Month

1998-99

1999-2000

Nov

226,600

226,900

Dec

226,200

227,400

226.8

Jan

226,600

227,900

Feb

226,400

227,800

Mar

227,100

228,300

Apr

227,400

228,200

225.9

May

227,500

228,300

Jun

226,900

227,600

Jul

226,500

227,700

225.0

Aug

O

N

D

J

F

M

A

M

J

J

A

S

226,300

228,100

Government Employment

278.7

1998-99

1999-2000

THOUSANDS

273.1

Monthly Data
Seasonally Adjusted

Month

1998-99

1999-2000

267.6

Nov

261,300

265,900

Dec

261,900

267,100

262.0

Jan

260,100

268,800

Feb

258,800

270,700

Mar

258,400

272,400

Apr

257,900

272,300

256.4

May

258,400

272,400

Jun

260,700

272,000

Jul

260,600

271,500

250.9

Aug

S

O

N

D

J

F

M

A

M

J

J

A

263,800

270,800

Georgia Department of Labor

Metro Atlanta Economic Indicators / November 2000 7

Construction Employment

128.0

1998-99

1999-2000

THOUSANDS

122.2

Monthly Data
Seasonally Adjusted

Month

1998-99

1999-2000

116.4

Nov

108,000

117,700

Dec

109,600

118,200

Jan

111,100

117,500

110.5

Feb

111,500

118,600

Mar

112,900

117,900

Apr

113,400

118,800

104.7

May

114,100

118,000

Jun

114,800

119,600

Jul

114,700

120,500

Aug
98.9

O

N

D

J

F

M

A

M

J

J

A

S

115,600

119,700

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

Nov

180,600

186,700

Dec

180,100

187,900

Jan

181,300

188,000

181.9

Feb

181,600

190,000

Mar

182,900

189,800

Apr

183,300

190,400

175.8

May

183,400

191,500

Jun

184,300

191,200

Jul

185,000

192,200

169.6

Aug

O

N

D

J

F

M

A

M

J

J

A

S

185,600

193,500

Finance, Insurance and Realty Employment

140.7

1998-99

1999-2000

THOUSANDS

139.5

Monthly Data
Seasonally Adjusted

Month

1998-99

1999-2000

138.2

Nov

136,900

137,400

Dec

136,200

138,400

136.9

Jan

136,900

137,900

Feb

136,800

138,000

Mar

136,500

138,100

Apr

137,100

137,900

135.7

May

136,900

138,100

Jun

136,900

139,000

Jul

136,800

138,900

134.4

Aug

O

N

D

J

F

M

A

M

J

J

A

S

137,100

138,600

8 Metro Atlanta Economic Indicators / November 2000

Georgia Department of Labor

Business Services Employment

248.0

1998-99

1999-2000

237.0

Monthly Data
Seasonally Adjusted

THOUSANDS

Month

1998-99

1999-2000

226.1

Nov

209,100

234,700

Dec

213,500

234,000

Jan

218,000

230,500

215.1

Feb

220,600

230,100

Mar

220,400

231,400

Apr

222,600

232,200

204.1

May

223,000

230,100

Jun

225,800

228,500

Jul

226,700

231,200

Aug

230,100

230,600

193.2

Sep

O

N

D

J

F

M

A

M

J

J

A

S

229,300

231,400

Health Services Employment

137.1

1998-99

1999-2000

THOUSANDS

131.3

Monthly Data
Seasonally Adjusted

Month

1998-99

1999-2000

125.5

Nov

114,700

125,900

Dec

114,700

126,900

119.7

Jan

116,400

127,600

Feb

116,000

128,200

Mar

118,500

128,000

Apr

120,400

128,400

113.9

May

123,100

128,800

Jun

123,500

128,700

Jul

123,900

129,400

Aug

124,400

129,600

Sep
108.1

O

N

D

J

F

M

A

M

J

J

A

S

124,800

130,900

Social Services Employment

30.3

1998-99

1999-2000

THOUSANDS

28.6

Monthly Data

Seasonally Adjusted

Month

1998-99

1999-2000

26.9

Nov

23,835

26,936

Dec

24,208

26,912

Jan

24,546

27,309

25.2

Feb

24,898

27,439

Mar

25,168

27,262

Apr

25,355

27,020

May

25,452

27,360

23.5

Jun

25,584

27,110

Jul

25,625

27,553

Aug

25,666

27,704

21.7

Sep

O

N

D

J

F

M

A

M

J

J

A

S

26,117

28,021

Georgia Department of Labor

Metro Atlanta Economic Indicators / November 2000 9

Manufacturing Workweek

42.8

1998-99

1999-2000

HOURS

41.9

Monthly Data

Seasonally Adjusted

Month

1998-99

1999-2000

41.1

Nov

41.6

40.7

Dec

41.5

40.2

Jan

41.0

40.5

40.2

Feb

41.2

40.4

Mar

41.1

40.6

Apr

41.0

40.3

May

41.2

40.0

39.3

Jun

40.9

40.0

Jul

41.1

39.5

Aug

40.6

39.8

38.5

Sep

O

N

D

J

F

M

A

M

J

J

A

S

40.8

39.5

Manufacturing Earnings

$568

1998-99

1999-2000

DOLLARS

$557

Monthly Data

Seasonally Adjusted

$547

$536

$526

$516

O

N

D

J

F

M

A

M

J

Month

Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep

J

A

S

1998-99
535.22 530.85 526.99 535.77 539.08 540.37 543.74 544.32 547.01 540.48 545.39

1999-2000
551.58 546.88 553.78 549.09 552.94 548.03 542.11 545.11 542.15 551.11 542.67

Deflated Manufacturing Earnings

$335

1998-99

1999-2000

DOLLARS

$329

Monthly Data

Seasonally Adjusted

Month

1998-99

1999-2000

$323

Nov

326.35

327.74

Dec

323.89

324.94

Jan

320.75

328.26

$317

Feb

325.70

323.57

Mar

326.72

323.17

Apr

325.13

320.11

May

327.16

316.47

$311

Jun

327.51

316.37

Jul

328.14

314.11

Aug

323.45

318.93

$305

Sep

O

N

D

J

F

M

A

M

J

J

A

S

324.83

312.42

10 Metro Atlanta Economic Indicators / November 2000

Georgia Department of Labor

Initial Unemployment Claims

8.3

1998-99

1999-2000

THOUSANDS

7.7

Monthly Data

Seasonally Adjusted

Month

1998-99

1999-2000

7.1

Nov

6,373

6,729

Dec

6,496

6,256

Jan

6,597

6,466

6.5

Feb

6,346

7,117

Mar

6,951

6,335

Apr

6,896

6,347

May

6,018

7,246

5.9

Jun

6,037

7,494

Jul

6,755

6,766

Aug

6,088

7,628

5.3

Sep

O

N

D

J

F

M

A

M

J

J

A

S

6,173

7,010

Continued Unemployment Claims

69.2

1998-99

1999-2000

THOUSANDS

63.6

Monthly Data

Seasonally Adjusted

Month

1998-99

1999-2000

57.9

Nov

55,138

61,253

Dec

48,484

51,204

Jan

47,938

60,146

52.3

Feb

51,938

56,061

Mar

55,152

47,832

Apr

53,391

55,728

May

52,107

57,415

46.7

Jun

57,101

52,908

Jul

48,203

63,438

Aug

58,955

56,485

41.0

Sep

O

N

D

J

F

M

A

M

J

J

A

S

54,756

63,139

Total Unemployment Rate

3.4

1998-99

1999-2000

PERCENTAGES

3.2

Monthly Data

Seasonally Adjusted

3.1

2.9

2.8

2.6

O

N

D

J

F

M

A

M

J

Month

Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep

J

A

S

1998-99
3.2 3.0 3.1 3.1 3.1 3.2 3.2 3.1 3.1 3.2 3.1

1999-2000
3.0 3.0 2.9 2.8 2.9 2.9 2.9 2.9 2.9 2.9 2.9

Georgia Department of Labor

Metro Atlanta Economic Indicators / November 2000 11

iInsured Unemployment Rate

0.73

1998-99

1999-2000

0.70

Monthly Data

Seasonally Adjusted

PERCENTAGES

Month

1998-99

1999-2000

0.67

Nov

0.60 %

0.64 %

Dec

0.62

0.65

Jan

0.62

0.66

0.63

Feb

0.64

0.63

M ar

0.64

0.63

Apr

0.63

0.64

M ay

0.63

0.65

0.60

Jun

0.62

0.66

Jul

0.62

0.65

Aug

0.64

0.68

Sep

0.63

0.69

0.56

Oct

O

N

D

J

F

M

A

M

J

J

A

S

0.65

0.68

MMARTA Passengers

7.3

1998-99

1999-2000

MILLIONS

7.0

Monthly Data

Seasonally Adjusted

Month

1998-99

1999-2000

6.6

Nov

6,577,000

6,795,000

Dec

6,816,000

6,509,000

Jan

6,276,000

6,460,000

6.3

Feb

6,460,000

6,657,000

Mar

6,467,000

6,674,000

Apr

6,374,000

6,326,000

May

6,192,000

6,636,000

6.0

Jun

6,074,000

6,914,000

Jul

6,243,000

6,153,000

Aug

5.6

Sep

O

N

D

J

F

M

A

M

J

J

A

S

6,233,000 6,345,000

6,644,000 6,447,000

Cobb Community Transit Passengers

189.1

1998-99

1999-2000

THOUSANDS

167.6

Monthly Data
Seasonally Adjusted

146.2

Month

1998-99

1999-2000

Nov

117,510

127,341

Dec

111,422

140,163

124.7

Jan

110,131

134,339

Feb

116,461

138,117

Mar

112,472

139,384

Apr

112,213

142,783

103.3

May

111,082

142,183

Jun

121,383

139,838

Jul

121,236

131,064

Aug

136,857

132,769

81.8

Sep

O

N

D

J

F

M

A

M

J

J

A

S

134,843

131,608

12 Metro Atlanta Economic Indicators / November 2000

Georgia Department of Labor

Residential Construction

6.4

1998-99

1999-2000

HOUSEHOLD UNITS

5.8

Monthly Data

Seasonally Adjusted

5.3

4.8

4.3

3.7

O

N

D

J

F

M

A

M

J

Month

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

J

A

S

1998-99
5,345 5,580 4,736 5,145 4,675 4,687 4,752 4,697 4,808 4,631 4,587

1999-2000
4,998 4,894 5,583 5,306 5,425 5,671 5,631 5,479 5,238 4,991 5,209

Nonresidential Construction

$652

1998-99

1999-2000

MILLIONS

$542

Monthly Data

Seasonally Adjusted

Month

1998-99 1999-2000

$433

$324

$214

$105

O

N

D

J

F

M

A

M

J

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

J

A

S

386,341,000 274,583,000 377,733,000 343,746,000 521,270,000 373,702,000 330,102,000 318,557,000 384,446,000 340,050,000 302,096,000

270,843,000 303,886,000 314,823,000 287,489,000 332,152,000 338,760,000 351,962,000 482,862,000 290,145,000 230,462,000 431,880,000

Deflated Nonresidential Construction

$602

1998-99

1999-2000

MILLIONS

$501

Monthly Data

Seasonally Adjusted

Month

1998-99

1999-2000

$400

$298

$197

$96

O

N

D

J

F

M

A

M

J

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

J

A

S

$331,573,832 359,721,601 254,479,147 348,141,014 316,524,862 478,668,503 341,904,849 300,639,344 288,548,007 347,600,362 306,904,332 272,403,968

$241,661,580 242,040,214 270,601,959 279,098,404 254,190,097 293,161,518 297,418,788 308,197,898 421,713,537 252,959,895 201,101,222 376,202,091

Georgia Department of Labor

Metro Atlanta Economic Indicators / November 2000 13

Hotel Occupancy

69.7

1998-99

1999-2000

67.8

Monthly Data

Seasonally Adjusted

PERCENTAGES

Month

1998-99

1999-2000

65.8

Nov

64.50 %

66.40 %

Dec

64.90

65.30

Jan

65.50

66.30

63.9

Feb

65.80

64.00

Mar

65.70

64.20

Apr

66.60

62.60

May

66.80

63.90

61.9

Jun

64.20

66.00

Jul

65.00

66.00

Aug

63.40

66.20

60.0

Sep

O

N

D

J

F

M

A

M

J

J

A

S

66.50

66.80

Average Hotel Room Rates
$91 1998-99 1999-2000

DOLLARS

$87

Monthly Data

Seasonally Adjusted

$84

$80

$77

$73

O

N

D

J

F

M

A

M

J

Month

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

J

A

S

1998-99
79.70 78.81 83.72 79.93 79.54 79.58 77.07 79.23 76.96 77.90 79.53

1999-2000
80.30 84.79 85.47 82.46 79.53 79.67 80.89 77.82 79.08 81.69 80.63

Deflated Average Hotel Room Rates
$55
48.116 48.163

$52

$50

DOLLARS

$47

$45

$42

N

D

J

F

M

A

M

J

J

A

S

14 Metro Atlanta Economic Indicators / November 2000

Monthly Data
Seasonally Adjusted

Month

1998-99

Nov

48.18

Dec

48.63

Jan

47.97

Feb

50.89

Mar

48.44

Apr

47.86

May

47.88

Jun

46.37

Jul

47.53

Aug

46.06

Sep

46.40

1999-2000
47.71 50.38 50.66 48.59 46.48 46.54 47.22 45.17 45.82 47.27 46.42

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

O

N

D

J

F

M

A

Average 15-Year Fixed Mortgage Rate*

9.10

1998-99

1999-2000

Monthly Data
Not Seasonally Adjusted

Month

Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep

M

J

J

A

S

* Does not include points

1998-99
6.91 6.72 6.78 6.79 7.00 6.89 7.09 7.56 7.68 8.03 7.90

1999-2000
7.72 8.04 8.19 8.37 8.28 8.12 8.55 8.26 8.16 8.04 7.95

8.38

PERCENTAGES

7.66

6.95

6.23

5.51

O

N

D

J

F

M

A

M

J

J

A

S

* Does not include points

Average One-Year Adjustable Mortgage Rate*

8.28

1998-99

1999-2000

Monthly Data
Not Seasonally Adjusted

Month

1998-99

Nov

6.42

Dec

6.39

Jan

6.34

Feb

6.35

Mar

6.58

Apr

6.47

May

6.69

Jun

7.17

Jul

7.23

Aug

7.55

Sep

7.48

1999-2000
7.35 7.65 7.78 7.96 7.87 7.78 8.27 8.01 7.87 7.78 7.63

7.51

6.73

PERCENTAGES

5.96

5.19

4.42

O

N

D

J

Georgia Department of Labor

Monthly Data
Not Seasonally Adjusted

Month

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

F

M

A

M

J

J

A

S

* Does not include points

1998-99
5.42 5.37 5.32 5.34 5.44 5.52 5.59 5.87 5.98 5.26 6.30

1999-2000
6.30 6.51 6.72 6.93 6.90 6.82 6.09 7.22 7.26 7.35 7.34

Metro Atlanta Economic Indicators / November 2000 15

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