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 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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