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 To receive a free subscription to this publication, 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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