Metro Atlanta economic indicators, monthly report, Vol. 4, no. 1 (Mar. 2001)

AT L A N TA

METROPOLITAN
Economic

Indicators

A Monthly Report of Atlanta Labor Market and Economic Trends

March 2001

Volume 4, Issue 1

Georgia Department of Labor
Michael L. Thurmond Commissioner

Metro Rockdale

P ic k en 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 4, Issue 1 March 2001

January 2001 Data
A note to the reader:
Beginning with this issue, the methodology for seasonal adjustment has been changed. The X-11 ARIMA method will continue to be used, however additional smoothing for cyclical events will no longer be performed.
Also, beginning with this issue, the Leading and Coincident Indicators Index will be published on a quarterly basis.
Cover art: Covered Bridge, Huey J. Theus, Mableton, Georgia Metro Atlanta Economic Indicators is published by Workforce Information and Analysis, a division of the Georgia Department of Labor, 148 International Boulevard, Atlanta, Georgia 30303-1751. The telephone number is (404) 656-3177.

Georgia Department of Labor
Michael L. Thurmond, Commissioner An Equal OpportunityEmployer/Programs Auxiliary Aids and Services Available Upon Request to Individuals With Disabilities

Georgia Department of Labor

Metro Atlanta Economic Indicators / March 2001 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 in this report are seasonally adjusted except Average 30-Year, 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. 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 that 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
Airport Traffic Data -- Hartsfield Atlanta International Airport, Department of Aviation

2 Metro Atlanta Economic Indicators / March 2001

Georgia Department of Labor

Consumer Price Index for the South

1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001

Jan
110.2 114.1 118.9 124.6 131.4 134.4 138.4 142.5 146.7 151.1 155.7 157.6 159.9 164.0 169.3

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
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 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
113.5 117.7 122.5 129.7 133.8 137.3 141.6 145.8 149.8 154.5 157.5 159.5 163.2 168.5

Oct 66.8 75.0 84.2 93.0 98.0 101.2 105.1 108.3 109.4 113.8 118.2 123.0 130.7 134.1 137.8 142.2 145.9 150.5 154.9 157.8 159.8 163.6 168.5

Nov
114.1 118.3 123.2 130.9 134.4 138.1 142.3 146.0 150.4 155.1 157.8 159.6 163.5 168.6

Dec 67.7 76.3 85.8 94.3 97.8 101.3 105.3 108.7 109.7 114.0 118.5 123.4 130.9 134.3 137.9 142.2 146.1 150.3 155.1 157.3 159.6 163.6 168.4

Rate 9.9 12.7 12.5 9.9 3.7 3.6 3.9 3.2 0.9 3.9 3.9 4.1 6.1 2.6 2.7 3.1 2.7 2.9 3.2 1.4 1.5 2.5 2.9

Source: U.S. Bureau of Labor Statistics

CPI South increased 0.5 percent during January

The Consumer Price Index for All Urban Consumers (CPI-U) for the South, increased 0.5 percent in January, not seasonally adjusted, according to data released by the U.S. Department of Labor's Bureau of Labor Statistics. For the 12month period ending in January, the CPI-U for the South increased 3.2 percent to a level of 169.3
The index recorded its largest single month gain since June of 2000 due to higher costs for shelter and household fuels and utilities.
Energy prices, which had decreased 0.1 percent in December, rose 2.3 percent in January as higher costs for household fuels were partially offset by lower costs for motor fuel.
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%

Excluding food and energy, the CPI-U for the South rose 0.3 for the month.
Among the major index groups,

the food and beverages index advanced 0.4 percent in January, slightly less than the 0.5 percent recorded in December. Food at home prices rose 0.5 percent, while food away from home increased 0.2 percent.
Housing costs rose 1.1 percent after recording no change in December. Both costs for shelter and fuels and utilities rose significantly in January. The shelter index advanced 0.7 percent, while fuels and utilities rose 4.3 percent during the month.
Transportation costs were unchanged in January. Higher costs for new vehicles offset the decline in gasoline prices.
Medical care costs rose 0.6 percent in January.

Metro Atlanta Economic Indicators / March 2001 3

Hartsfield Traffic Totals
IInnddeexx ooff DDoommeessttiicc aanndd IInntteerrnnaattiioonnaall TTrraaffffiicc
115

92

69

46

23

0 II-98 III-98 IV-98 I-99 II-99 III-99 IV-99 I-00 II-00 III-00 IV-00

(not seasonally adjusted) February 1998 = 100

Total Aircraft Passengers

Cargo

Air Traffic Declines 0.5 Percent in Fourth Quarter 2000

Hartsfield Atlanta International Airport showed a slight decline in transit activity during the fourth quarter of 2000, as measured by the total number of domestic and international aircraft operations. It was the second consecutive quarter of decline in air traffic at the nation's busiest airport. Passenger travel declined during the three-month period, from 20,321,263 in the third quarter, to 19,261,031 in the fourth quarter of 2000. That equates to decline in passengers from 220,883, to 209,359 passengers per day. Underlying the drop in passenger activities was a decline of 4.1 percent in domestic travelers and a

5.2 percent decline in international travelers. Delta Airlines, the airport's largest carrier of passengers and freight, accounts for approximately 72 percent of the passenger traffic at Hartsfield. Airtran is the second largest carrier of the twenty-eight major airlines, accounting for approximately 10 percent of the total passengers in transit through Atlanta. Some of the decline in passenger travel can be attributed to higher ticket prices. Wholesale prices for jet fuel increased 14.4 percent during the last quarter of 2000, pushing up the cost of air transportation. Offsetting the decline in passenger air travel was a significant increase in air cargo shipments. The total

cargo tonnage, both domestic and international, increased from 215,835 in the third quarter, to 237,403 in the fourth quarter of the year. Approximately 70 percent of the cargo activity at Hartsfield-Atlanta is express and freight, with 40 percent of the cargo in transit to and from international destinations. The remaining 30 percent of the air cargo passing through the airport is mail. In the fourth quarter of 2000, the Georgia Department of Labor estimated about 55,900 aviation industry employees in metropolitan Atlanta. The number of aviation employees in third quarter of 2000 was approximately 56,200.

4 Metro Atlanta Economic Indicators / March 2001

Georgia Department of Labor

Data Summary
January 2001

Metro Atlanta Economic Indicators

Jan 2001 Dec 2000

Jan 2000

Percent Change Dec 2000
to Jan 2001

Percent Change Jan 2000
to Jan 2001

Nonagricultural Employment

2,229,916

Wholesale Employment

180,091

Retail Employment

406,364

Services Employment

696,826

Manufacturing Employment

217,770

Government Employment

268,177

Construction Employment

122,950

Transp. & Pub. Utilities Employment

196,073

Finance, Insurance & Realty Employment

141,026

Business Services Employment

237,429

Health Services Employment

129,064

Social Services Employment

30,473

Manufacturing Workweek

39.2

Manufacturing Earnings

$528.66

Deflated Manufacturing Earnings

$301.92

Initial Unemployment Claims

11,771

Continued Unemployment Claims

84,799

Total Unemployment Rate

2.7%

Insured Unemployment Rate

0.83%

MARTA Passengers

6,799,000

Cobb County Transit Passengers

137,730

Residential Construction (household units)

6,236

Nonresidential Construction (value)

$348,961,000

Deflated Nonresidential Construction

$199,292

Hotel Occupancy

66.1%

Average Hotel Room Rates

$83.74

Deflated Average Hotel Room Rate

$47.82

Average 30-Year Fixed Mortgage Rate

7.17%

Average 15-Year Fixed Mortgage Rate

6.74%

Average One-Year Adjustable Mortgage Rate

6.50%

Georgia Department of Labor

2,220,052 179,446 405,593 684,244 220,616 269,848 119,081 195,608 143,019 233,224 126,949 30,394 38.7 $536.98 $308.61 8,018 63,229 2.4% 0.77%
6,194,000 124,577 4,569
$313,388,000 $180,108 62.1% $76.32 $43.86 7.45% 7.09% 6.92%

2,200,690 178,203 401,211 680,728 228,775 267,786 117,065 187,387 138,481 229,307 127,090 30,449 40.5 $550.38 $326.25 7,041 64,099 3.0% 0.70%
6,476,000 89,020 5,639
$306,194,000 $181,502 66.8% $90.00 $53.35 8.19% 7.78% 6.72%

0.44 0.36 0.19 1.84 -1.29 -0.62 3.25 0.24 -1.39 1.80 1.67 0.26 1.34 -1.55 -2.17 46.81 34.11
9.77 10.56 36.49 11.35 10.65 9.72 9.03 -

1.33 1.06 1.28 2.36 -4.81 0.15 5.03 4.64 1.84 3.54 1.55 0.08 -3.21 -3.95 -7.46 67.19 32.29
4.99 54.72 10.58 13.97 9.80 -6.96 -10.36 -

Metro Atlanta Economic Indicators / March 2001 5

Nonagricultural Employment
2.3 1999-2000 2000-2001

MILLIONS

2.2

Monthly Data

Seasonally Adjusted

2.2

2.1

2.1

2.0

F

M

A

M

J

Month

M ar

Apr

M ay

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

J

A

S

O

N

D

J

1998-99
2,103,699 2,124,054 2,138,190 2,150,595 2,151,919 2,166,270 2,173,027 2,187,028 2,194,366 2,204,018 2,200,690 2,200,799

1999-2000
2,216,669 2,225,822 2,233,091 2,230,950 2,234,401 2,233,789 2,237,468 2,234,007 2,236,144 2,220,052 2,229,916 2,225,133

Wholesale Employment

186.9

1999-2000 2000-2001

THOUSANDS

183.3

Monthly Data
Seasonally Adjusted

179.7

Month

M ar

Apr

M ay

176.2

Jun

Jul

Aug

Sep

172.6

Oct

Nov

Dec

Jan

169.0

Feb

F

M

A

M

J

J

A

S

O

N

D

J

1998-99
174,155 175,323 176,188 176,661 178,710 178,842 179,220 179,258 179,651 179,387 178,203 177,702

1999-2000
179,379 180,470 179,722 181,436 182,491 181,897 182,540 181,711 181,782 179,446 180,091 180,387

Retail Employment

425.7

1999-2000 2000-2001

412.5

Monthly Data
Seasonally Adjusted

THOUSANDS

399.4

Month

M ar

Apr

M ay

386.2

Jun

Jul

Aug

Sep

373.0

Oct

Nov

Dec

Jan

359.9

Feb

F

M

A

M

J

J

A

S

O

N

D

J

1998-99
377,588 377,665 382,503 385,143 385,924 390,628 391,775 396,027 398,386 404,068 401,211 400,399

1999-2000
402,572 405,683 405,722 405,222 406,310 404,834 404,387 409,441 409,133 405,593 406,364 402,786

6 Metro Atlanta Economic Indicators / March 2001

Georgia Department of Labor

Services Employment

727.1

1999-2000

2000-2001

702.1

Monthly Data
Seasonally Adjusted

THOUSANDS

677.1

652.1

627.1

602.1

F

M

A

M

J

Month

M ar

Apr

M ay

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

J

A

S

O

N

D

J

1998-99
635,396 653,400 656,718 663,866 665,382 672,449 672,074 678,286 680,198 682,415 680,728 683,200

1999-2000
687,639 692,837 692,025 694,036 696,955 695,790 697,213 694,387 696,167 684,244 696,826 690,495

Manufacturing Employment

233.2

1999-2000 2000-2001

THOUSANDS

229.1

Monthly Data
Seasonally Adjusted

225.0

Month

M ar

Apr

M ay

220.9

Jun

Jul

Aug

Sep

216.8

Oct

Nov

Dec

Jan

212.7

Feb

F

M

A

M

J

J

A

S

O

N

D

J

1998-99
226,365 226,820 227,324 227,668 225,189 226,572 226,329 226,540 227,163 226,747 228,775 227,841

1999-2000
227,781 228,063 228,271 228,533 227,601 227,791 228,193 227,675 227,212 220,616 217,770 218,748

Government Employment

287.6

1999-2000 2000-2001

THOUSANDS

279.7

Monthly Data
Seasonally Adjusted

271.7

Month

M ar

Apr

M ay

263.8

Jun

Jul

Aug

Sep

255.9

Oct

Nov

Dec

Jan

247.9

Feb

F

M

A

M

J

J

A

S

O

N

D

J

1998-99
260,380 259,213 259,192 258,057 257,336 256,695 262,650 264,446 265,767 267,748 267,786 269,701

1999-2000
272,236 273,289 277,849 269,742 266,338 267,707 269,868 267,835 267,240 269,848 268,177 271,960

Georgia Department of Labor

Metro Atlanta Economic Indicators / March 2001 7

Construction Employment

128.5

1999-2000

2000-2001

THOUSANDS

123.7

Monthly Data
Seasonally Adjusted

Month

1998-99

1999-2000

118.8

M ar

110,998

118,338

Apr

112,673

117,776

M ay

113,735

119,199

113.9

Jun

114,648

118,516

Jul

115,634

120,514

Aug

115,750

121,557

Sep

116,178

120,225

109.0

Oct

117,037

117,899

Nov

117,242

117,628

Dec

117,102

119,081

Jan

117,065

122,950

104.1

Feb

F

M

A

M

J

J

A

S

O

N

D

J

116,387

121,304

Transportation and Public Utilities Employment

203.1

1999-2000

2000-2001

THOUSANDS

197.2

Monthly Data
Seasonally Adjusted

191.2

Month 1998-99

1999-2000

Feb

M ar

Apr

185.2

M ay

Jun

Jul

Aug

179.3

Sep

Oct

Nov

Dec

173.3

Jan

F

M

A

M

J

J

A

S

O

N

D

J

180,930 181,466 182,620 183,242 183,229 182,915 185,641 185,833 186,387 186,327 186,429 187,387

187,599 189,925 189,480 190,304 191,488 191,320 192,893 194,043 193,873 194,806 195,608 196,073

Finance, Insurance and Realty Employment

145.7

1999-2000

2000-2001

143.3

Monthly Data
Seasonally Adjusted

THOUSANDS

140.9

Month

1998-99

1999-2000

M ar

136,604

137,927

Apr

136,472

138,073

138.5

M ay Jun

137,223 137,994

137,947 138,116

Jul

137,453

139,656

Aug

137,036

139,226

136.1

Sep

137,316

138,833

Oct

137,054

138,219

Nov

137,141

138,396

Dec

137,288

143,019

Jan

138,481

141,026

133.7

Feb

F

M

A

M

J

J

A

S

O

N

D

J

137,703

139,712

8 Metro Atlanta Economic Indicators / March 2001

Georgia Department of Labor

Business Services Employment

245.2

1999-2000

2000-2001

238.3

Monthly Data
Seasonally Adjusted

THOUSANDS

231.4

Month

M ar

Apr

M ay

224.4

Jun

Jul

Aug

Sep

217.5

Oct

Nov

Dec

Jan

210.6

Feb

F

M

A

M

J

J

A

S

O

N

D

J

1998-99
219,216 223,132 223,538 225,996 225,886 230,287 230,231 232,383 235,406 234,764 229,307 229,547

1999-2000
230,473 232,792 230,707 228,652 230,302 230,796 232,261 227,089 225,826 233,224 237,429 232,813

Health Services Employment

141.0

1999-2000

2000-2001

THOUSANDS

134.4

Monthly Data
Seasonally Adjusted

Month

127.9

M ar

Apr

M ay

121.3

Jun

Jul

Aug

Sep

114.7

Oct

Nov

Dec

Jan

108.1

Feb

F

M

A

M

J

J

A

S

O

N

D

J

1998-99
115,383 123,164 123,195 123,732 124,137 124,770 124,875 126,333 125,698 125,899 127,090 127,706

1999-2000
127,809 128,347 128,939 128,976 129,684 129,935 130,936 131,110 132,361 126,949 129,064 130,066

Social Services Employment
34.1 1999-2000 2000-2001

THOUSANDS

32.5

Monthly Data

Seasonally Adjusted

Month 30.8

M ar

Apr

M ay

29.1

Jun

Jul

Aug

Sep

27.5

Oct

Nov

Dec

Jan

25.8

Feb

F

M

A

M

J

J

A

S

O

N

D

J

1998-99
28,001 28,605 29,044 29,091 29,035 29,282 29,721 30,602 30,590 30,782 30,449 31,044

1999-2000
31,211 31,617 32,118 32,272 32,228 32,245 32,129 32,262 32,168 30,394 30,473 30,865

Georgia Department of Labor

Metro Atlanta Economic Indicators / March 2001

9

Manufacturing Workweek

42.5

1999-2000

2000-2001

HOURS

41.5

Monthly Data

Seasonally Adjusted

40.6

39.6

38.6

37.6

F

M

A

M

J

Month

M ar

Apr

M ay

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

J

A

S

O

N

D

J

1998-99
41.0 41.0 41.2 41.0 41.2 40.7 40.9 40.2 40.6 40.4 40.5 40.1

1999-2000
40.5 41.4 40.1 40.1 39.6 39.9 38.7 39.8 39.0 38.7 39.2 38.8

Manufacturing Earnings

$590

1999-2000 2000-2001

DOLLARS

$574

Monthly Data
Seasonally Adjusted

$558

Month

M ar

Apr

M ay

$542

Jun

Jul

Aug

Sep

$526

Oct

Nov

Dec

Jan

$510

Feb

F

M

A

M

J

J

A

S

O

N

D

J

1998-99
$539.30 541.99 544.30 546.67 546.23 539.92 555.89 534.19 553.49 554.94 550.38 544.01

1999-2000
$554.03 571.12 542.62 547.70 541.13 550.67 539.07 560.07 556.08 553.59 552.34 553.04

Deflated Manufacturing Earnings

$349

1999-2000 2000-2001

DOLLARS

$336

Monthly Data
Seasonally Adjusted

$324

Month

M ar

Apr

M ay

$312

Jun

Jul

Aug

Sep

$299

Oct

Nov

Dec

Jan

$287

Feb

F

M

A

M

J

J

A

S

O

N

D

J

1998-99
$326.85 326.11 327.50 328.92 327.68 323.11 331.08 317.59 328.87 329.73 326.25 320.57

1999-2000
$323.80 333.60 316.76 317.88 313.52 318.68 310.35 321.88 319.40 318.15 315.44 314.59

10 Metro Atlanta Economic Indicators / March 2001

Georgia Department of Labor

Initial Unemployment Claims
14.4 1999-2000 2000-2001

THOUSANDS

12.2

Monthly Data

Seasonally Adjusted

Month 9.9
M ar

Apr

M ay

7.7

Jun

Jul

Aug

Sep

5.4

Oct

Nov

Dec

Jan

3.2

Feb

F

M

A

M

J

J

A

S

O

N

D

J

1998-99
6,638 6,328 5,703 5,951 6,879 6,383 6,245 6,372 6,283 6,349 7,041 7,361

1999-2000
6,019 5,755 6,848 7,454 6,851 8,054 7,050 7,531 7,694 8,018 11,771 10,389

Continued Unemployment Claims

100.5

1999-2000 2000-2001

THOUSANDS

86.4

Monthly Data

Seasonally Adjusted

Month 72.3

Jan

Feb

M ar

58.3

Apr

M ay

Jun

Jul

44.2

Aug

Sep

Oct

Nov

30.2

Dec

F

M

A

M

J

J

A

S

O

N

D

J

1998-99
47,825 51,854 56,020 53,311 52,103 56,905 47,796 58,490 54,089 55,564 60,890 51,647

1999-2000
59,959 55,923 48,638 55,596 56,516 52,690 62,841 55,993 62,306 60,104 57,953 63,523

Total Unemployment Rate
3.7 1999-2000 2000-2001

PERCENTAGES

3.4

Monthly Data

Seasonally Adjusted

Month

3.0 Mar

Apr

May

2.7

Jun

Jul

Aug

Sep

2.4

Oct

Nov

Dec

Jan

2.0

Feb

F

M

A

M

J

J

A

S

O

N

D

J

1998-99
3.2 % 3.1 3.0 3.1 3.0 3.0 2.8 2.9 3.0 2.9 3.0 2.9

1999-2000
2.9 % 2.9 2.9 2.9 2.8 2.9 2.8 2.8 2.6 2.4 2.7 3.0

Georgia Department of Labor

Metro Atlanta Economic Indicators / March 2001 11

iInsured Unemployment Rate

0.93

1999-2000 2000-2001

0.84

Monthly Data

Seasonally Adjusted

PERCENTAGES

Month

0.76

M ar

Apr

M ay

0.68

Jun

Jul

Aug

Sep

0.59

Oct

Nov

Dec

Jan

0.51

Feb

F

M

A

M

J

J

A

S

O

N

D

J

MMARTA Passengers

1998-99

1999-2000

0.64 % 0.62 0.61 0.61 0.63 0.64 0.63 0.64 0.63 0.64 0.70 0.64

0.63 % 0.63 0.64 0.65 0.66 0.69 0.69 0.67 0.69 0.77 0.83 0.86

7.5 1999-2000 2000-2001

MILLIONS

7.1

Monthly Data

Seasonally Adjusted

6.7

6.3

5.9

5.5

F

M

A

M

J

Month

M ar Apr

M ay

Jun

Jul Aug Sep Oct Nov

Dec

Jan

Feb

J

A

S

O

N

D

J

1998-99
6,464,000 6,289,000 6,189,000 6,194,000 6,125,000 6,270,000 6,414,000 6,419,000 6,671,000 6,542,000 6,476,000 6,589,000

1999-2000
6,703,000 6,263,000 6,671,000 7,068,000 5,995,000 6,648,000 6,490,000 6,503,000 6,459,000 6,194,000 6,799,000 6,221,000

Cobb Community Transit Passengers

235.2

1999-2000 2000-2001

202.5

169.8

THOUSANDS

137.1

104.4

71.7

F

M

A

M

J

J

A

12 Metro Atlanta Economic Indicators / March 2001

S

O

N

D

Monthly Data
Seasonally Adjusted

Month
M ar Apr M ay Jun Jul Aug Sep Oct Nov Dec Jan Feb
J

1998-99
127,349 118,615 109,473 122,062 118,552 141,427 135,838 126,490 120,472 140,513
89,020 136,507

1999-2000
140,823 174,709 196,736 126,596 126,250 137,760 132,960 135,407 135,877 124,577 137,730 129,505

Georgia Department of Labor

Residential Construction
7.3 1999-2000 2000-2001

HOUSEHOLD UNITS

6.4

Monthly Data

Seasonally Adjusted

Month

5.5

M ar

Apr

M ay

4.6

Jun

Jul

Aug

Sep

3.8

Oct

Nov

Dec

Jan

2.9

Feb

F

M

A

M

J

J

A

S

O

N

D

J

1998-99
4,961 4,984 3,917 5,920 4,991 4,812 4,391 4,243 6,242 4,618 5,639 5,305

1999-2000
5,801 6,037 5,789 5,453 5,416 5,074 4,936 4,169 5,153 4,569 6,236 6,386

Nonresidential Construction

$710

1999-2000 2000-2001

MILLIONS

$587

Monthly Data
Seasonally Adjusted

$464

Month

1998-99 1999-2000

M ar

$539,021,000 $341,706,000

Apr

333,517,000

559,751,000

M ay

344,342,000

368,432,000

$341

Jun

357,596,000

546,766,000

Jul

370,283,000

277,576,000

Aug

405,393,000

270,611,000

Sep

282,640,000

411,800,000

$218

Oct

262,985,000

359,115,000

Nov

272,326,000

253,203,000

Dec

448,218,000

313,388,000

Jan

306,194,000

348,961,000

$96

Feb

F

M

A

M

J

J

A

S

O

N

D

J

249,729,000

329,048,000

Deflated Nonresidential Construction

$421

1999-2000 2000-2001

$350

Monthly Data
Seasonally Adjusted

MILLIONS

$278

Month

1998-99

1999-2000

Mar

$ 326.679

$ 199.711

Apr

200.672

326.957

$206

May

207.185

215.080

Jun

215.160

317.334

Jul

222.125

160.820

Aug

242.605

156.604

$135

Sep

168.338

237.075

Oct

156.353

206.388

Nov

161.810

145.435

Dec

266.321

180.108

Jan

181.502

199.292

$63

Feb

F

M

A

M

J

J

A

S

O

N

D

J

147.159

187.172

Georgia Department of Labor

Metro Atlanta Economic Indicators / March 2001

13

Hotel Occupancy
72.0 1999-2000

2000-2001

68.9

Monthly Data

Seasonally Adjusted

PERCENTAGES

Month 65.9
M ar

Apr

M ay

62.8

Jun

Jul

Aug

Sep

59.8

Oct

Nov

Dec

Jan

56.7

Feb

F

M

A

M

J

J

A

S

O

N

D

J

Average Hotel Room Rates
$97 1999-2000 2000-2001

1998-99
66.54 % 67.65 67.43 65.95 67.10 64.21 67.01 67.15 65.72 60.26 66.84 65.07

1999-2000
64.78 % 63.50 64.38 67.42 67.97 67.05 67.78 64.59 65.51 62.09 66.06 64.83

DOLLARS

$91
Monthly Data
Seasonally Adjusted

$86

Month

M ar

Apr

M ay

$80

Jun

Jul

Aug

Sep

$74

Oct

Nov

Dec

Jan

$69

Feb

F

M

A

M

J

J

A

S

O

N

D

J

1998-99
$79.83 77.66 79.30 77.47 74.93 78.30 79.07 80.59 81.51 76.33 90.00 78.53

1999-2000
$79.89 81.76 77.88 79.51 78.61 79.46 81.68 79.31 79.14 76.32 83.74 81.24

Deflated Average Hotel Room Rates
$58 1999-2000 2000-2001

$54

Monthly Data

Seasonally Adjusted

DOLLARS

Month

$50

M ar

Apr

M ay

$47

Jun

Jul

Aug

Sep

$43

Oct

Nov

Dec

Jan

$40

Feb

F

M

A

M

J

J

A

S

O

N

D

J

1998-99
$48.38 46.73 47.71 46.61 44.95 46.86 47.10 47.92 48.43 45.35 53.35 46.27

1999-2000
$46.69 47.76 45.46 46.15 45.54 45.99 47.03 45.58 45.46 43.86 47.82 46.21

14 Metro Atlanta Economic Indicators / March 2001

Georgia Department of Labor

Average 30-Year Fixed Mortgage Rate*
9.37 1999-2000 2000-2001

8.68

PERCENTAGES

7.98

7.29

6.59

5.90

F

M

A

M

J

J

A

Average 15-Year Fixed Mortgage Rate*
9.10 1999-2000 2000-2001

Monthly Data
Not Seasonally Adjusted

Month

M ar Apr M ay Jun Jul Aug Sep Oct Nov Dec Jan Feb

S

O

N

D

J

* Does not include points

1998-99
7.00 6.89 7.09 7.56 7.68 8.03 7.90 7.86 7.72 8.04 8.19 8.37

1999-2000
8.28 8.12 8.55 8.26 8.16 8.04 7.95 7.81 7.79 7.45 7.17 7.13

8.38

PERCENTAGES

7.66

6.95

6.23

5.51

F

M

A

M

J

J

A

S

O

N

D

J

* Does not include points

Average One-Year Adjustable Mortgage Rate*

8.28

1999-2000

2000-2001

Monthly Data
Not Seasonally Adjusted

Month

1998-99

M ar

6.58

Apr

6.47

M ay

6.69

Jun

7.17

Jul

7.23

Aug

7.55

Sep

7.48

Oct

7.45

Nov

7.35

Dec

7.65

Jan

7.78

Feb

7.96

1999-2000
7.87 7.78 8.27 8.01 7.87 7.78 7.63 7.48 7.45 7.09 6.74 6.73

7.51

Monthly Data

Not Seasonally Adjusted

PERCENTAGES

Month

6.73

M ar

Apr

M ay

5.96

Jun

Jul

Aug

Sep

5.19

Oct

Nov

Dec

Jan

4.42

Feb

F

M

A

M

J

J

A

S

O

N

D

J

* Does not include points

1998-99
5.44 5.52 5.59 5.87 5.98 5.73 6.30 6.36 6.30 6.51 6.72 6.93

1999-2000
6.90 6.82 6.64 7.22 7.26 7.35 7.34 7.14 7.06 6.92 6.50 6.22

Georgia Department of Labor

Metro Atlanta Economic Indicators / March 2001 15

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