Metro Atlanta economic indicators, monthly report, Vol. 4, no. 10 (Dec. 2001)

AT L A N TA

METROPOLITAN
Economic

Indicators

A Monthly Report of Atlanta Labor Market and Economic Trends

December 2001

Volume 4, Issue 10

Georgia Department of Labor
Michael L. Thurmond Commissioner

Metro Rockdale

P ic k e n s Bartow Cherokee Forsyth

Cobb P a u ld in g

G w innett B arrow

C arroll

D ouglas Fulton D eK alb
Cla yton

W alton Newton

Fa ye tte
Coweta

Henry

S p a ld in g

Atlanta
Economic
Indicators
Monthly Report Volume 4, Issue 10 December 2001

October 2001 Data Cover art: "Wrens Nest", Atlanta, Georgia by Huey J. Theus, Mableton, Georgia

Metro Atlanta Economic Indicators is published by Workforce Information and Analysis, a division of the Georgia Department of Labor, 148 Andrew Young International Boulevard, Atlanta, Georgia 303031751. 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 / December 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 Bill Webb, Workforce Information and Analysis, Georgia Department of Labor, 148 Andrew Young International Boulevard, Atlanta, Georgia 303031751. 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 / December 2001

Georgia Department of Labor

Consumer Price Index for Atlanta

YEAR
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 FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Rate

61.7 66.9 76.4 87.2 92.8 97.9 102.6 107.0 111.7

62.5 68.5 78.0 88.2 92.9 98.7 103.2 107.6 111.1

63.6 70.5 80.3 89.3 96.5 100.2 104.1 108.8 112.2 115.5

64.7 71.9 81.7 91.6 98.0 100.8 104.8 109.9 112.4

65.9 73.2 83.0 93.3 98.8 100.9 105.4 110.4 112.7

65.9 74.0 85.7 93.6 98.2 101.9 105.5 111.2 113.5 117.5

7.7% 12.3% 15.8%
9.2% 4.9% 3.8% 3.5% 5.4% 2.1% 3.5%

119.1 124.9 130.8 135.5 138.6

121.7 127.3 132.6 136.2 138.5

3.6% 4.6% 4.2% 2.7% 1.7%

159.5

160.8

142.2 146.7 150.3 154.7 158.3 162.0

161.9

162.0

144.7 146.7 151.5 157.2 159.5 161.6

4.5% 1.4% 3.3% 3.8% 1.5% 1.4%

161.9 167.4 175.3

164.0 169.8 176.6

164.8 170.9 177.8

165.9 172.1 176.9

166.5

167.0 3.3%

171.9

171.9 2.9%

176.7

Source: U.S. Bureau of Labor Statistics

Atlanta's CPI Continues to Decline

The Consumer Price Index for all Urban Consumers (CPI-U) for Atlanta declined 0.1 percent over the two months ended in October, not seasonally adjusted, to a level of 176.7 (1982-84=100), as reported by the Bureau of Labor Statistics of the U.S. Department of Labor. For the 12month period ended in October, the CPI-U for Atlanta increased 2.8 percent.
Over the two months, the all items index reflected lower costs for housing, offsetting increases in apparel and transportation. After rising 3.4 percent over the first six months of the year, the all items index has declined 0.6 percent since June. Since December 2000, the index has increased 2.8 percent compared to a 2.9 percent increase for the comparable period in 2000.

Among the special indexes compiled, energy costs declined 6.6 percent over the past two months due to a seasonal decrease in electricity costs. Excluding food and energy, the CPI-U for Atlanta has increased 0.3 percent since August 2001.
Housing costs accelerated their decline, dropping 2.1 percent, as costs for both shelter and household fuels and utilities decreased over the two months. The decrease in the fuels and utilities index reflected a 19.6 percent drop in electricity costs. The lower electricity costs reflected seasonal factors with the index declining by a similar percentage each year after the summer months. Overall, housing costs in the Atlanta area have risen 3.0 percent since October 2000.
The apparel index reversed its previous decline and increased 7.9

percent in the two months ending in October. Despite the most recent increase, apparel costs in Atlanta have dropped 3.0 percent since October 2000. Transportation costs increased 1.2 percent over the two months. Over the two months, gasoline prices rose 1.5 percent reflecting a 9.0 percent increase for the month of September and a 6.9 percent decline during the month of October. Since October 2000, the transportation index has declined 0.1 percent. Other indexes reported include the medical care index that rose 0.8 percent after declining 0.4 percent in JulyAugust pricing period. With the most recent increase, consumers' costs for medical care in the Atlanta area now stand 4.6 percent higher than they were in October 2000.

Georgia Department of Labor

Metro Atlanta Economic Indicators / December 2001 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

94

95

96

97

98

99

00

01

Jobless Claims Data Pulls Leading Indicator Down

The Georgia Department of Labor's Index of Leading Economic Indicators for the Atlanta metropolitan area decreased 1.5 percent, from a revised 151.3 in September to 149.1 in October, after seasonal adjustment.
Initial and continued unemployment claims increased significantly during the month of October, pulling the leading index down. Residential construction inched upward 0.2 percent, after declining 8.0 percent in September. The value of non-residential construction increased 0.1 percent during the month of October, adding to September's gain of 10.2 percent.
The Index of Coincident Indicators declined 1.5 percent in October, to a level of 133.7 from a revised 135.7 in September. Decelerated business activity continues to place downward pressure on job growth.

Recent 12 Months
Leading Coincident
53.0
46.2
39.3
32.5 1987-88 = 100
25.6 N D J F MAM J J AS O
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 economic conditions.

Nonagricultural employment declined for the fifth consecutive month, down 0.7 percent in October. All employment sectors declined during the month of October except for health services and finance, insurance & realty employment. Unemployment in the metro area increased to 3.9 percent, two-tenths of a percent higher than September's rate. The rapid deterioration in the labor market has placed enormous pressure on many households. In the manufacturing sector weekly earnings increased 4.4 percent and hours worked slipped 0.5 percent during the month.
The events of September 11 have taken it's toll on the metro area by weakening the demand for air transportation, which impacted the convention and tourism industry. These sectors continue to shed employees as the economy struggles through a period of declining business activity.

4 Metro Atlanta Economic Indicators / December 2001

Georgia Department of Labor

Data Summary
October 2001 Data

Metro Atlanta Economic Indicator

Oct 2001

Sep 2001

Oct 2000

Percent Change Sep 2001
to Oct 2001

Percent Change Oct 2000
to Oct 2001

Nonagricultural Employment

2,187,250

Wholesale Employment

183,581

Retail Employment

403,588

Services Employment

667,127

Manufacturing Employment

214,605

Government Employment

271,603

Construction Employment

110,907

Transp. & Pub. Utilities Employment

193,565

Finance, Insurance & Realty Employment

138,981

Business Services Employment

206,981

Health Services Employment

131,792

Social Services Employment

30,967

Manufacturing Workweek

38.8

Manufacturing Earnings

$559.84

Deflated Manufacturing Earnings

$315.05

Initial Unemployment Claims

19,157

Continued Unemployment Claims

185,761

Total Unemployment Rate (not seasonally adjusted) 3.9%

Insured Unemployment Rate

1.72%

MARTA Passengers

5,982,000

Cobb County Transit Passengers

182,121

Residential Construction (household units)

4,790

Nonresidential Construction (value)

$351,160,000

Deflated Nonresidential Construction

$197,614

Hotel Occupancy

57.2%

Average Hotel Room Rates

$77.77

Deflated Average Hotel Room Rate

$43.76

Average 30-Year Fixed Mortgage Rate

6.62%

Average 15-Year Fixed Mortgage Rate

6.15%

Average One-Year Adjustable Mortgage Rate

5.05%

Georgia Department of Labor

2,203,500 184,838 405,813 672,717 216,917 272,986 112,796 195,858 138,976 209,321 131,706 31,404 39.0 $536.36 $300.82 12,396 130,577 3.7% 1.71%
5,915,000 173,999 4,779
$346,553,000 $194,365 51.7% $71.55 $40.13 6.82% 6.35% 5.38%

2,214,096 178,964 399,385 686,496 222,052 268,992 119,390 194,161 141,470 236,141 126,997 30,485 39.8 $559.95 $321.81 7,531 71,422 2.9% 0.67%
6,503,000 135,407 4,169
$359,115,000 $206,388 64.7% $79.20 $45.52 7.81% 7.48% 7.14%

-0.74 -0.68 -0.55 -0.83 -1.07 -0.51 -1.68 -1.17 0.00 -1.12 0.07 -1.39 -0.52 4.38 4.73 54.55 42.26
1.13 4.67 0.22 1.33 1.67 8.68 9.05 -

-1.21 2.58 1.05 -2.82 -3.35 0.97 -7.11 -0.31 -1.76 -12.35 3.78 1.58 -2.50 -0.02 -2.10 154.38 160.09
-8.01 34.50 14.88 -2.22 -4.25 -1.81 -3.86 -

Metro Atlanta Economic Indicators / December 2001 5

Nonagricultural Employment
2.26 1999-2000 2000-2001

MILLIONS

2.24

Monthly Data

Seasonally Adjusted

Month 1999-2000 2000-2001 2.21

Nov

2,169,831

2,217,730

Dec

2,181,076

2,219,937

Jan

2,177,178

2,229,649

2.19

Feb

2,180,802

2,223,747

M ar

2,189,717

2,224,161

Apr

2,187,603

2,232,955

M ay

2,196,843

2,233,780

2.16

Jun

2,203,692

2,232,903

Jul

2,203,998

2,218,291

Aug

2,207,756

2,213,989

Sep

2,210,318

2,203,500

2.14

Oct

N

D

J

F

M

A

M

J

J

A

S

O

2,214,096

2,187,250

Wholesale Employment

191.0

1999-2000 2000-2001

THOUSANDS

186.6

Monthly Data
Seasonally Adjusted

182.3

Month 1999-2000 2000-2001

Nov

Dec

Jan

178.0

Feb

M ar

Apr

M ay

173.6

Jun

Jul

Aug

Sep

169.3

Oct

N

D

J

F

M

A

M

J

J

A

S

O

173,981 174,925 175,967 176,547 177,023 177,091 177,469 177,948 178,901 178,573 179,126 178,964

178,999 179,803 180,060 180,530 181,774 185,920 184,781 185,309 182,986 184,248 184,838 183,581

Retail Employment

423.4

1999-2000 2000-2001

414.1

Monthly Data
Seasonally Adjusted

THOUSANDS

404.8

Month 1999-2000 2000-2001

Nov

Dec

Jan

395.6

Feb

M ar

Apr

M ay

386.3

Jun

Jul

Aug

Sep

377.0

Oct

N

D

J

F

M

A

M

J

J

A

S

O

392,593 396,156 388,590 390,012 392,847 393,161 394,837 395,986 396,628 395,827 394,649 399,385

402,555 404,998 406,387 403,654 405,595 407,984 411,778 411,087 410,488 407,290 405,813 403,588

6 Metro Atlanta Economic Indicators / December 2001

Georgia Department of Labor

Services Employment

712.1

1999-2000

2000-2001

699.9

Monthly Data
Seasonally Adjusted

THOUSANDS

687.6

Month 1999-2000 2000-2001

Nov

667,258

688,714

Dec

670,863

684,848

Jan

680,244

696,587

675.3

Feb

680,489

690,355

M ar

681,174

688,743

Apr

678,175

690,425

M ay

679,445

688,247

663.0

Jun

685,415

684,696

Jul

685,642

681,899

Aug

683,187

677,929

Sep

685,468

672,717

650.7

Oct

N

D

J

F

M

A

M

J

J

A

S

O

686,496

667,127

Manufacturing Employment

232.7

1999-2000 2000-2001

THOUSANDS

228.1

Monthly Data
Seasonally Adjusted

223.4

Month 1999-2000 2000-2001

Nov

Dec

Jan

218.7

Feb

M ar

Apr

M ay

214.0

Jun

Jul

Aug

Sep

209.3

Oct

N

D

J

F

M

A

M

J

J

A

S

O

226,624 227,585 223,665 223,032 223,415 222,160 221,476 221,564 222,468 223,859 223,287 222,052

221,192 221,188 217,659 219,125 219,237 219,049 219,279 218,476 217,784 216,092 216,917 214,605

Government Employment

280.4

1999-2000

2000-2001

THOUSANDS

275.1

Monthly Data
Seasonally Adjusted

Month 1999-2000 2000-2001

269.9

Nov

261,642

268,548

Dec

262,353

269,478

Jan

261,483

268,056

264.6

Feb

263,084

270,653

M ar

263,951

270,687

Apr

265,024

272,463

M ay

270,120

273,977

259.3

Jun

265,272

272,274

Jul

260,779

265,423

Aug

262,447

271,444

Sep

267,327

272,986

254.0

Oct

N

D

J

F

M

A

M

J

J

A

S

O

268,992

271,603

Georgia Department of Labor

Metro Atlanta Economic Indicators / December 2001 7

Construction Employment

128.7

1999-2000

2000-2001

THOUSANDS

124.1

Monthly Data
Seasonally Adjusted

Month 1999-2000 2000-2001

119.6

Nov

116,242

119,024

Dec

115,945

119,007

Jan

116,353

122,963

115.1

Feb

117,198

121,916

M ar

119,330

119,714

Apr

118,994

118,571

M ay

119,517

118,355

110.6

Jun

120,611

118,534

Jul

122,405

120,301

Aug

123,257

116,603

Sep

121,707

112,796

106.1

Oct

N

D

J

F

M

A

M

J

J

A

S

O

119,390

110,907

Transportation and Public Utilities Employment

202.5

1999-2000

2000-2001

THOUSANDS

199.3

Monthly Data
Seasonally Adjusted

196.2

Month 1999-2000 2000-2001

Nov

Dec

Jan

193.0

Feb

M ar

Apr

M ay

189.8

Jun

Jul

Aug

Sep

186.7

Oct

N

D

J

F

M

A

M

J

J

A

S

O

190,997 191,944 191,495 191,823 192,932 190,479 191,002 191,590 191,813 193,792 194,246 194,161

194,987 195,665 196,061 197,930 198,164 197,014 197,337 198,223 197,014 197,820 195,858 193,565

Finance, Insurance and Realty Employment

145.4

1999-2000

2000-2001

143.5

Monthly Data
Seasonally Adjusted

THOUSANDS

141.6

Month 1999-2000

2000-2001

Nov

138,577

141,406

Dec

138,523

142,389

139.7

Jan

138,348

141,110

Feb

138,191

140,125

M ar

138,065

139,794

Apr

141,521

140,346

137.8

M ay Jun Jul

141,935 142,025 142,776

140,052 140,649 139,697

Aug

142,828

139,346

Sep

142,353

138,976

135.9

Oct

N

D

J

F

M

A

M

J

J

A

S

O

141,470

138,981

8 Metro Atlanta Economic Indicators / December 2001

Georgia Department of Labor

Business Services Employment

249.3

1999-2000

2000-2001

238.4

Monthly Data
Seasonally Adjusted

THOUSANDS

227.6

Month 1999-2000 2000-2001

Nov

229,291

234,311

Dec

229,053

232,054

Jan

237,852

237,880

216.7

Feb

236,712

230,679

M ar

235,287

227,689

Apr

230,304

226,107

M ay

234,044

222,922

205.9

Jun

235,722

218,957

Jul

236,804

216,496

Aug

236,422

211,822

Sep

236,526

209,321

195.0

Oct

N

D

J

F

M

A

M

J

J

A

S

O

236,141

206,981

Health Services Employment

136.5

1999-2000

2000-2001

THOUSANDS

133.4

Monthly Data
Seasonally Adjusted

Month 1999-2000 2000-2001

130.4

Nov

125,130

128,272

Dec

125,796

127,609

Jan

125,467

129,051

127.3

Feb

125,263

129,412

M ar

125,433

129,375

Apr

125,595

129,080

M ay

125,013

128,878

124.3

Jun

125,540

130,191

Jul

126,357

132,720

Aug

126,468

132,540

Sep

127,386

131,706

121.3

Oct

N

D

J

F

M

A

M

J

J

A

S

O

126,997

131,792

Social Services Employment
33.2 1999-2000 2000-2001

THOUSANDS

Monthly Data

32.2

Seasonally Adjusted

Month 1999-2000 2000-2001

Nov

31.2

Dec

Jan

Feb

M ar

Apr

30.2

M ay

Jun

Jul

Aug

Sep

29.2

Oct

N

D

J

F

M

A

M

J

J

A

S

O

30,528 30,727 31,018 31,167 31,473 30,567 30,671 30,567 30,492 30,625 30,500 30,485

30,524 30,448 30,436 30,986 30,683 31,074 30,859 30,764 31,425 31,854 31,404 30,967

Georgia Department of Labor

Metro Atlanta Economic Indicators / December 2001 9

Manufacturing Workweek

43.3

1999-2000

2000-2001

HOURS

Monthly Data

41.6

Seasonally Adjusted

Month 1999-2000 2000-2001

Nov

40.0

Dec

Jan

Feb

M ar

Apr

38.3

M ay

Jun

Jul

Aug

Sep

36.7

Oct

N

D

J

F

M

A

M

J

J

A

S

O

40.6

39.0

40.3

38.7

40.5

39.2

40.2

39.0

40.5

38.9

41.4

38.6

40.0

39.7

40.1

40.2

39.6

38.6

39.9

39.9

38.7

39.0

39.8

38.8

Manufacturing Earnings

$603

1999-2000 2000-2001

DOLLARS

$585

Monthly Data
Seasonally Adjusted

$568

Month 1999-2000

2000-2001

Nov

$550.92

$553.62

Dec

554.69

553.32

Jan

551.00

552.94

$550

Feb

544.27

555.30

M ar

553.14

553.29

Apr

571.94

548.99

M ay

543.21

569.47

$533

Jun

548.05

583.48

Jul

541.56

558.69

Aug

551.20

567.50

Sep

539.19

536.36

$515

Oct

N

D

J

F

M

A

M

J

J

A

S

O

559.95

559.84

Deflated Manufacturing Earnings

$348

1999-2000 2000-2001

DOLLARS

$336

Monthly Data
Seasonally Adjusted

$324

Month 1999-2000 2000-2001

Nov

$327.34

$317.99

Dec

329.59

318.00

Jan

326.42

315.79

$312

Feb

320.54

315.87

M ar

323.09

314.01

Apr

333.88

310.34

M ay

316.74

320.46

$300

Jun

317.16

327.80

Jul

313.40

314.75

Aug

319.35

319.72

Sep

310.41

300.82

$288

Oct

N

D

J

F

M

A

M

J

J

A

S

O

321.81

315.05

10 Metro Atlanta Economic Indicators / December 2001

Georgia Department of Labor

Initial Unemployment Claims
24.1 1999-2000 2000-2001

THOUSANDS

19.6

Monthly Data

Seasonally Adjusted

Month 1999-2000 2000-2001

15.1

Nov

6,283

7,694

Dec

6,349

8,018

Jan

7,041

11,771

10.6

Feb

7,361

10,389

M ar

6,019

10,071

Apr

5,755

11,221

M ay

6,848

12,049

6.0

Jun

7,454

10,804

Jul

6,851

11,858

Aug

8,054

12,786

Sep

7,050

12,396

1.5

Oct

N

D

J

F

M

A

M

J

J

A

S

O

7,531

19,157

Continued Unemployment Claims

237.5

1999-2000 2000-2001

THOUSANDS

190.2

Monthly Data
Seasonally Adjusted

142.9

Month 1999-2000 2000-2001

Nov

62,161

60,067

Dec

52,107

63,229

Jan

64,099

84,799

95.6

Feb

55,856

79,998

M ar

51,222

76,174

Apr

54,121

112,110

M ay

64,530

102,500

48.3

Jun

51,960

100,899

Jul

60,800

123,380

Aug

60,917

125,602

Sep

59,395

130,577

1.0

Oct

N

D

J

F

M

A

M

J

J

A

S

O

71,422

185,761

Total Unemployment Rate
4.5 1999-2000 2000-2001

PERCENTAGES

4.0

Monthly Data

Not Seasonally Adjusted

Month 1999-2000 2000-2001

3.4

Nov

2.7 %

2.5 %

Dec

2.6

2.4

Jan

2.8

2.7

2.9

Feb

3.1

3.1

Mar

3.1

3.1

Apr

2.8

2.9

May

3.0

3.0

2.3

Jun

3.6

3.5

Jul

3.3

3.4

Aug

3.1

3.5

Sep

3.1

3.7

1.8

Oct

N

D

J

F

M

A

M

J

J

A

S

O

2.9

3.9

Georgia Department of Labor

Metro Atlanta Economic Indicators / December 2001 11

iInsured Unemployment Rate

2.21

1999-2000 2000-2001

1.79

Monthly Data

Seasonally Adjusted

PERCENTAGES

Month 1999-2000 2000-2001 1.38

Nov

0.63 %

0.69 %

Dec

0.64

0.77

Jan

0.70

0.83

0.96

Feb

0.64

0.86

M ar

0.63

0.92

Apr

0.63

1.03

M ay

0.64

1.14

0.55

Jun

0.65

1.24

Jul

0.66

1.34

Aug

0.69

1.46

Sep

0.69

1.71

0.13

Oct

N

D

J

F

M

A

M

J

J

A

S

O

0.67

1.72

MMARTA Passengers

7.8 1999-2000 2000-2001

MILLIONS

7.2

Monthly Data

Seasonally Adjusted

Month 1999-2000 2000-2001

6.6

Nov

6,671,000

6,459,000

Dec

6,542,000

6,194,000

Jan

6,476,000

6,799,000

6.0

Feb

6,589,000

6,221,000

M ar

6,703,000

6,433,000

Apr

6,263,000

6,284,000

M ay

6,671,000

6,578,000

5.4

Jun

7,068,000

6,539,000

Jul

5,995,000

5,457,000

Aug

6,648,000

6,168,000

Sep

6,490,000

5,915,000

Oct 4.8

N

D

J

F

M

A

M

J

J

A

S

O

6,503,000

5,982,000

Cobb Community Transit Passengers

249.6

1999-2000

2000-2001

205.5

Monthly Data
Seasonally Adjusted

THOUSANDS

161.4

Month 1999-2000 2000-2001

Nov

120,472

135,877

Dec

140,513

124,577

Jan

89,020

137,730

117.2

Feb

136,507

129,505

M ar

140,823

176,786

Apr

174,709

149,578

M ay

196,736

170,072

73.1

Jun

126,596

179,771

Jul

126,250

175,748

Aug

137,760

191,556

Sep

132,960

173,999

29.0

Oct

N

D

J

F

M

A

M

J

J

A

S

O

135,407

182,121

12 Metro Atlanta Economic Indicators / December 2001

Georgia Department of Labor

Residential Construction
7.5 1999-2000 2000-2001

6.6

Monthly Data

Seasonally Adjusted

HOUSEHOLD UNITS ( THOUSANDS )

Month 1999-2000 2000-2001

5.7

Nov

6,242

5,153

Dec

4,618

4,569

Jan

5,639

6,236

4.8

Feb

5,305

6,386

M ar

5,801

5,197

Apr

6,037

5,355

M ay

5,789

5,884

3.9

Jun

5,453

6,482

Jul

5,416

5,487

Aug

5,074

5,196

Sep

4,936

4,779

3.1

Oct

N

D

J

F

M

A

M

J

J

A

S

O

4,169

4,790

Nonresidential Construction

$710

1999-2000 2000-2001

MILLIONS

$592

Monthly Data
Seasonally Adjusted

$474

Month 1999-2000 2000-2001

Nov

$272,326,000 $253,203,000

Dec

448,218,000

313,388,000

Jan

306,194,000

348,961,000

$356

Feb

249,729,000

329,048,000

M ar

341,706,000

309,722,000

Apr

559,751,000

457,811,000

M ay

368,432,000

295,318,000

$238

Jun

546,766,000

290,681,000

Jul

277,576,000

386,935,000

Aug

270,611,000

314,383,000

Sep

411,800,000

346,553,000

$120

Oct

N

D

J

F

M

A

M

J

J

A

S

O

359,115,000

351,160,000

Deflated Nonresidential Construction

$410

1999-2000 2000-2001

$341

Monthly Data
Seasonally Adjusted

MILLIONS

$271

Month 1999-2000 2000-2001

Nov

$161,810,000 $145,435,000

Dec

266,321,000

180,108,000

Jan

181,395,000

199,292,000

$202

Feb

147,072,000

187,172,000

M ar

199,595,000

175,779,000

Apr

326,766,000

258,796,000

M ay

214,829,000

166,189,000

$132

Jun

316,416,000

163,304,000

Jul

160,634,000

217,992,000

Aug

156,785,000

177,117,000

Sep

237,075,000

194,365,000

$63

Oct

N

D

J

F

M

A

M

J

J

A

S

O

206,388,000

197,614,000

Georgia Department of Labor

Metro Atlanta Economic Indicators / December 2001 13

Hotel Occupancy
76.4 1999-2000

2000-2001

69.9

Monthly Data

Seasonally Adjusted

PERCENTAGES

Month 1999-2000 2000-2001

63.3

Nov

65.84 %

65.64 %

Dec

60.08

61.87

Jan

66.59

65.81

56.7

Feb

65.04

64.80

M ar

64.95

67.35

Apr

63.05

62.14

M ay

64.49

63.76

50.2

Jun

67.51

64.97

Jul

68.05

60.79

Aug

67.15

63.85

Sep

67.87

51.74

43.6

Oct

N

D

J

F

M

A

M

J

J

A

S

O

64.71

57.20

Average Hotel Room Rates
$98 1999-2000 2000-2001

DOLLARS

$91

Monthly Data

Seasonally Adjusted

Month 1999-2000 2000-2001 $85

Nov

Dec

Jan

$78

Feb

M ar

Apr

M ay

$71

Jun

Jul

Aug

Sep

$64

Oct

N

D

J

F

M

A

M

J

J

A

S

O

$81.39 76.65 90.00 78.99 79.76 81.68 77.80 79.44 78.54 79.40 81.58 79.20

$79.02 76.69 83.74 81.77 81.08 78.26 81.32 82.01 75.20 80.45 71.55 77.77

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

$54

Monthly Data

Seasonally Adjusted

DOLLARS

Month 1999-2000 2000-2001 $49

Nov

$48.36

$45.39

Dec

45.54

44.07

Jan

53.32

47.82

$45

Feb

46.52

46.51

M ar

46.59

46.02

Apr

47.68

44.24

M ay

45.37

45.76

$40

Jun

45.97

46.07

Jul

45.45

42.36

Aug

Sep

$35

Oct

N

D

J

F

M

A

M

J

J

A

S

O

46.00 46.96 45.52

45.32 40.13 43.76

14 Metro Atlanta Economic Indicators / December 2001

Georgia Department of Labor

Average 30-Year Fixed Mortgage Rate*
9.38 1999-2000 2000-2001

8.68

PERCENTAGES

7.98

7.27

6.57

5.87

N

D

J

F

M

A

M

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

Monthly Data
Not Seasonally Adjusted

Month

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

J

J

A

S

O

* Does not include points

1999-2000
7.72 % 8.04 8.19 8.37 8.28 8.12 8.55 8.26 8.16 8.04 7.95 7.81

2000-2001
7.79 % 7.45 7.17 7.13 7.02 7.11 7.22 7.22 7.18 7.01 6.82 6.62

8.33

PERCENTAGES

7.57

6.80

6.04

5.27

N

D

J

F

M

A

M

J

J

A

S

O

* Does not include points

Average One-Year Adjustable Mortgage Rate*

8.29

1999-2000

2000-2001

Monthly Data
Not Seasonally Adjusted
Month 1999-2000

2000-2001

Nov

7.35 %

7.45 %

Dec

7.65

7.09

Jan

7.78

6.74

Feb

7.96

6.73

M ar

7.87

6.59

Apr

7.78

6.62

M ay

8.27

6.70

Jun

8.01

6.77

Jul

7.87

6.73

Aug

7.78

6.53

Sep

7.63

6.35

Oct

7.48

6.15

7.46

Monthly Data

Not Seasonally Adjusted

PERCENTAGES

Month

1999-2000 2000-2001

6.64

Nov

6.30 %

7.06 %

Dec

6.51

6.92

Jan

6.72

6.50

5.81

Feb

6.93

6.22

M ar

6.90

6.00

Apr

6.82

5.83

M ay

7.09

5.79

4.99

Jun

7.22

5.71

Jul

7.26

5.67

Aug

7.35

5.57

Sep

7.34

5.38

4.16

Oct

N

D

J

F

M

A

M

J

J

A

S

O

7.14

5.05

* Does not include points

Georgia Department of Labor

Metro Atlanta Economic Indicators / December 2001 15

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