Metro Atlanta economic indicators, monthly report, Vol. 4, no. 11 (Jan. 2002)

AT L A N TA

METROPOLITAN
Economic

Indicators

A Monthly Report of Atlanta Labor Market and Economic Trends

January 2002

Volume 4, Issue 11

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 11 January 2002

November 2001 Data
Cover art: Euharlee Covered Bridge, Bartow County, 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 / January 2002 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 / January 2002

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

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Rate

62.4

63.5

64.9

65.9

66.8

67.7

9.9

68.9

70.3

72.2

73.6

75.0

76.3

12.7

78.5

80.6

82.2

82.7

84.2

85.8

12.5

87.8

89.0

90.4

91.9

93.0

94.3

9.9

95.1

94.7

97.0

97.6

98.0

97.8

3.7

98.0

98.8

99.6

100.2

101.2

101.3

3.6

102.4

103.1

103.6

104.3

105.1

105.3

3.9

105.7

106.4

107.1

107.6

108.3

108.7

3.2

108.9

107.9

108.7

108.7

109.4

109.7

0.9

110.2

110.7 111.1 111.5 111.8 112.2 112.6 112.9 113.5 113.8 114.1 114.0

3.9

114.1

114.4 114.8 115.4 115.6 116.1 116.6 117.0 117.7 118.2 118.3 118.5

3.9

118.9

119.2 119.8 120.8 121.3 121.7 122.0 122.1 122.5 123.0 123.2 123.4

4.1

124.6

125.4 126.0 126.1 126.5 127.3 127.8 128.7 129.7 130.7 130.9 130.9

6.1

131.4

131.7 131.9 132.1 132.5 132.8 133.0 133.3 133.8 134.1 134.4 134.3

2.6

134.4

134.9 135.5 135.9 136.2 136.7 136.8 137.0 137.3 137.8 138.1 137.9

2.7

138.4

139.1 139.7 140.2 140.7 140.8 140.9 141.5 141.6 142.2 142.3 142.2

3.1

142.5

142.9 143.6 143.8 144.3 144.7 145.0 145.5 145.8 145.9 146.0 146.1

2.7

146.7

147.4 148.0 148.4 148.8 149.1 149.2 149.7 149.8 150.5 150.4 150.3

2.9

151.1

151.5 152.4 153.2 153.5 154.0 154.0 154.1 154.5 154.9 155.1 155.1

3.2

155.7

156.1 156.5 156.7 156.6 157.0 157.0 157.1 157.5 157.8 157.8 157.3

1.4

157.6

157.8 158.2 158.5 158.8 159.1 159.3 159.5 159.5 159.8 159.6 159.6

1.5

159.9

160.0 160.6 161.5 161.6 161.7 162.2 162.6 163.2 163.6 163.5 163.6

2.5

164.0

164.7 166.4 166.6 166.6 167.4 167.9 168.0 168.5 168.5 168.6 168.4

2.9

169.3

170.2 170.6 171.4 171.7 172.2 171.6 171.5 172.2 171.7 171.0

Source: U.S. Bureau of Labor Statistics

Inflation Remains in Check in the South

The Consumer Price Index for all Urban Consumers (CPI-U) for the South fell 0.4 percent in November, not seasonally adjusted, to a level of 171.0 (1982-84=100), as reported by the Bureau of Labor Statistics of the U.S. Department of Labor. For the 12month period ending in November, the CPI-U, South increased 1.4 percent.
The decline of the index in November was the largest one-month decline since the index began monthly publication in 1987, and was largely due to lower costs for energy. Energy costs decreased 6.4 percent in November, reflecting declining costs for both motor fuels and household fuels. Excluding food and energy, the CPI-U, South rose 0.1 percent over the month.
Year to date, the CPI-U, South has increased 1.5 percent, a little more than half the 2.9 percent increase recorded

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%

in all of 2000. Excluding food and energy, the CPI-U, South has risen 2.4 percent so far this year, compared to a 2.3 percent increase in all of 2000.
Although housing costs were down over the month, they remained the

largest portion of the increase over the past year. After decreasing 0.5 percent in October, the housing index declined another 0.2 percent in November. The costs for electricity declined 4.2 percent over the month. Costs for utility natural gas service increased 5.7 percent in November, but remained 6.4 percent lower than the level recorded a year ago.
The transportation index decreased 1.8 percent in November. Gasoline costs, the largest component of the motor fuels index, have declined 20.3 percent so far this year and have dropped 22.7 percent below the level recorded in November 2000.
Costs for medical care continued to rise in November. The index rose 0.3 percent higher than a year ago. The index for medical care commodities increased 0.2 percent over the month, while the index for medical care services rose 0.3 percent.

Georgia Department of Labor

Metro Atlanta Economic Indicators / January 2002 3

Consumer unit percent distribution of expenditures, U.S. average, South region and selected Southern metro areas, 1998-99

item
Vehicles Percent homeowner Avg. annual expenditure Total (percent) Food Alcholic beverages Housing Apparel and services transpotation Health care Entertainment Personal care products & services Reading Education Tobacco products & smoking supplies Misc. Cash contributions Personal insurance and pensions

U.S Average
1.9 65 $36,251 100.0 13.6 0.9 32.7 4.7 18.8 5.3 5.1 1.1
0.4 1.7 0.8
2.4 3.2 9.4

South
1.9 67 $33,135 100.0 13.7 0.8 31.1 4.9 20.3 5.9 4.8 1.2

Washington D.C
1.9 64 $46,801 100.0 11.4 0.9 35.0 4.9 17.5 4.7 4.8 1.4

Baltimore
1.7 66 $39,782 100.0 13.0 0.9 33.9 4.2 16.0 4.0 5.3 1.2

Atlanta
2 68 $38,727 100.0 11.5 0.6 35.5 4.4 20.8 4.7 4.4 0.9

0.4

0.5

0.3

0.5

1.3

1.8

1.7

1.4

0.9

0.5

0.6

0.5

2.3

2.2

5.3

1.9

3.4

2.9

2.8

3.8

9.2

11.4

10.9

9.1

Miami
1.6 64 $38,099 100.0 12.6 0.8 36.7 4.6 19.5 3.9 4.7 1.1
0.2 1.1 0.5
1.6 2.8 10.0

Tampa
1.7 70 $32,928 100.0 14.4 1.2 33.5 4.0 18.2 7.0 4.5 0.9
0.4 1.2 0.9
2.1 2.5 9.2

DallasFt.Worth
1.9 59 $44,224 100.0 14.7 0.7 29.9 5.6 17.7 4.9 4.5 1.2
0.4 1.2 0.7
1.8 5.1 11.6

Houston
1.9 56 $43,038 100.0 13.1 1.0 30.5 4.5 22.2 4.5 4.3 1.2
0.3 1.1 0.8
2.2 3.2 11.1

Source: Consumer Expenditure Survey

Consumer Spending Patterns in Atlanta, Georgia

The average consumer (unit) in the Atlanta metropolitan area spent $38,727 per year in 1998-99, 6.8 percent more than the national average. Atlanta area households spent 18.2 percent more on transportation and 16 percent more for housing than did households nationwide. The typical Atlanta household spent a slightly larger share of its total budget for housing, transportation and food (67.8 percent) than the average U.S. household (65.1). The percentage of Atlanta's budget spent on these three categories was among the highest when compared to six other metropolitan areas in the South. On average, spending on housing accounted for 35.5 percent of total household expenditures in the Atlanta area. Nationally, households spent 32.7 percent on housing in the 1998-99 period. The majority of housing

expenditures in Atlanta (59.2) went for shelter. Utilities, fuels and services accounted for another 22.2 percent of the total housing expenditures. Atlanta's expenditures for utilities, fuels and public services, at $3,054, were the highest in the nation. The rate of home ownership in Atlanta, at 68 percent, was one of the highest among the selected areas in the South. Nationally, 65 percent of all households owned their own home. Transportation was the second largest expenditure category in the Atlanta area, accounting for 20.8 percent of a household's budget, compared to 18.8 percent for the nation. Of the $8,058 annual expenditure on transportation in Atlanta, 95.7 percent was spent buying and maintaining private vehicles. The remaining 4.3 percent was spent on public transportation. The average number of vehicles per household in Atlanta was 2.0,

not much different than the national average of 1.9 vehicles. Atlanta households spent 11.5 percent of their budget on food. All other metropolitan areas in the South spent well over 12 percent of their budgets on food. Atlanta households spent 53.7 percent of their food budget on food prepared and eaten at home. The remaining 46.3 percent was spent on food prepared away from home. An average U.S. household allocated only 42.1 percent of their food budget for food prepared away from home.
The Consumer Expenditure Survey (CES), which provided the data contained in this article was obtained from the Bureau of Labor Statistics (BLS). The CES survey which is conducted on an ongoing basis by the BLS is the only national survey that provides both complete data on household expenditures and the demographic characteristics of those households.

4 Metro Atlanta Economic Indicators / January 2002

Georgia Department of Labor

Data Summary
November 2001 Data

Metro Atlanta Economic Indicator

Nov 2001

Oct 2001

Nov 2000

Percent Change Oct 2001
to Nov 2001

Percent Change Nov 2000
to Nov 2001

Nonagricultural Employment

2,170,108

Wholesale Employment

183,699

Retail Employment

401,397

Services Employment

660,003

Manufacturing Employment

211,951

Government Employment

271,059

Construction Employment

112,374

Transp. & Pub. Utilities Employment

188,713

Finance, Insurance & Realty Employment

137,917

Business Services Employment

199,893

Health Services Employment

131,590

Social Services Employment

31,609

Manufacturing Workweek

39.0

Manufacturing Earnings

$557.87

Deflated Manufacturing Earnings

$314.47

Initial Unemployment Claims

17,184

Continued Unemployment Claims

163,904

Total Unemployment Rate ( not seasonally adjusted ) 3.9%

Insured Unemployment Rate

1.98%

MARTA Passengers

5,870,000

Cobb County Transit Passengers

191,473

Residential Construction (household units)

4,730

Nonresidential Construction (value)

$434,011,000

Deflated Nonresidential Construction

$244,651

Hotel Occupancy

56.8%

Average Hotel Room Rates

$74.36

Deflated Average Hotel Room Rate

$41.92

Average 30-Year Fixed Mortgage Rate

6.72%

Average 15-Year Fixed Mortgage Rate

6.24%

Average One-Year Adjustable Mortgage Rate

5.05%

Georgia Department of Labor

2,191,238 185,079 403,089 669,519 215,004 272,101 111,497 193,266 138,981 207,080 133,188 30,967 38.9 $562.07 $316.30 19,157 185,761 3.9% 1.72%
5,982,000 182,121 4,790
$351,160,000 $197,614 57.2% $77.77 $43.76 6.62% 6.15% 5.05%

2,217,730 178,999 402,555 688,714 221,192 268,548 119,024 194,987 141,406 234,311 128,272 30,524 39.0 $553.62 $317.99 7,694 60,067 2.5% 0.69%
6,459,000 135,877 5,153
$253,203,000 $145,435 65.6% $79.02 $45.39 7.79% 7.45% 7.06%

-0.96 -0.75 -0.42 -1.42 -1.42 -0.38 0.79 -2.36 -0.77 -3.47 -1.20 2.07 0.24 -0.75 -0.58 -10.30 -11.77
-1.87 5.14 -1.24 23.59 23.80 -4.38 -4.22 -

-2.15 2.63 -0.29 -4.17 -4.18 0.94 -5.59 -3.22 -2.47 -14.69 2.59 3.55 -0.01 0.77 -1.11 123.35 172.87
-9.12 40.92 -8.20 71.41 68.22 -5.90 -7.65 -

Metro Atlanta Economic Indicators / January 2002 5

Nonagricultural Employment
2.26 1999-2000 2000-2001

MILLIONS

2.24

Monthly Data

Seasonally Adjusted

Month 1999-2000 2000-2001 2.21

Dec

2,181,076

2,219,937

Jan

2,177,178

2,229,649

Feb

2,180,802

2,223,747

2.19

M ar

2,189,717

2,224,161

Apr

2,187,603

2,232,955

M ay

2,196,843

2,233,780

Jun

2,203,692

2,232,903

2.16

Jul

2,203,998

2,218,291

Aug

2,207,756

2,213,989

Sep

2,210,318

2,203,500

Oct

2,214,096

2,191,238

2.14

Nov

D

J

F

M

A

M

J

J

A

S

O

N

2,217,730

2,170,108

Wholesale Employment

191.0

1999-2000 2000-2001

THOUSANDS

186.6

Monthly Data
Seasonally Adjusted

182.3

Month 1999-2000 2000-2001

Dec

Jan

Feb

178.0

M ar

Apr

M ay

Jun

173.6

Jul

Aug

Sep

Oct

169.3

Nov

D

J

F

M

A

M

J

J

A

S

O

N

174,925 175,967 176,547 177,023 177,091 177,469 177,948 178,901 178,573 179,126 178,964 178,999

179,803 180,060 180,530 181,774 185,920 184,781 185,309 182,986 184,248 184,838 185,079 183,699

Retail Employment

423.4

1999-2000 2000-2001

414.1

Monthly Data
Seasonally Adjusted

THOUSANDS

404.8

Month 1999-2000 2000-2001

Dec

Jan

Feb

395.6

M ar

Apr

M ay

Jun

386.3

Jul

Aug

Sep

Oct

377.0

Nov

D

J

F

M

A

M

J

J

A

S

O

N

396,156 388,590 390,012 392,847 393,161 394,837 395,986 396,628 395,827 394,649 399,385 402,555

404,998 406,387 403,654 405,595 407,984 411,778 411,087 410,488 407,290 405,813 403,089 401,397

6 Metro Atlanta Economic Indicators / January 2002

Georgia Department of Labor

Services Employment

712.1

1999-2000

2000-2001

698.8

Monthly Data
Seasonally Adjusted

THOUSANDS

685.6

Month 1999-2000 2000-2001

Dec

670,863

684,848

Jan

680,244

696,587

Feb

680,489

690,355

672.3

M ar

681,174

688,743

Apr

678,175

690,425

M ay

679,445

688,247

Jun

685,415

684,696

659.1

Jul

685,642

681,899

Aug

683,187

677,929

Sep

685,468

672,717

Oct

686,496

669,519

645.8

Nov

D

J

F

M

A

M

J

J

A

S

O

N

688,714

660,003

Manufacturing Employment

233.8

1999-2000 2000-2001

THOUSANDS

228.2

Monthly Data
Seasonally Adjusted

222.5

Month 1999-2000 2000-2001

Dec

Jan

Feb

216.8

M ar

Apr

M ay

Jun

211.2

Jul

Aug

Sep

Oct

205.5

Nov

D

J

F

M

A

M

J

J

A

S

O

N

227,585 223,665 223,032 223,415 222,160 221,476 221,564 222,468 223,859 223,287 222,052 221,192

221,188 217,659 219,125 219,237 219,049 219,279 218,476 217,784 216,092 216,917 215,004 211,951

Government Employment

280.4

1999-2000

2000-2001

THOUSANDS

275.1

Monthly Data
Seasonally Adjusted

Month 1999-2000 2000-2001

269.9

Dec

262,353

269,478

Jan

261,483

268,056

Feb

263,084

270,653

264.6

M ar

263,951

270,687

Apr

265,024

272,463

M ay

270,120

273,977

Jun

265,272

272,274

259.3

Jul

260,779

265,423

Aug

262,447

271,444

Sep

267,327

272,986

Oct

268,992

272,101

254.0

Nov

D

J

F

M

A

M

J

J

A

S

O

N

268,548

271,059

Georgia Department of Labor

Metro Atlanta Economic Indicators / January 2002 7

Construction Employment

128.7

1999-2000

2000-2001

THOUSANDS

124.1

Monthly Data
Seasonally Adjusted

Month 1999-2000 2000-2001

119.6

Dec

115,945

119,007

Jan

116,353

122,963

Feb

117,198

121,916

115.1

M ar

119,330

119,714

Apr

118,994

118,571

M ay

119,517

118,355

Jun

120,611

118,534

110.6

Jul

122,405

120,301

Aug

123,257

116,603

Sep

121,707

112,796

Oct

119,390

111,497

106.1

Nov

D

J

F

M

A

M

J

J

A

S

O

N

119,024

112,374

Transportation and Public Utilities Employment

202.5

1999-2000

2000-2001

THOUSANDS

198.9

Monthly Data
Seasonally Adjusted

195.2

Month 1999-2000 2000-2001

Dec

Jan

Feb

191.6

M ar

Apr

M ay

Jun

188.0

Jul

Aug

Sep

Oct

184.4

Nov

D

J

F

M

A

M

J

J

A

S

O

N

191,944 191,495 191,823 192,932 190,479 191,002 191,590 191,813 193,792 194,246 194,161 194,987

195,665 196,061 197,930 198,164 197,014 197,337 198,223 197,014 197,820 195,858 193,266 188,713

Finance, Insurance and Realty Employment

145.0

1999-2000

2000-2001

143.1

Monthly Data
Seasonally Adjusted

THOUSANDS

141.3

Month 1999-2000

2000-2001

Dec

138,523

142,389

Jan

138,348

141,110

139.5

Feb

138,191

140,125

M ar

138,065

139,794

Apr M ay

141,521 141,935

140,346 140,052

137.7

Jun

142,025

140,649

Jul

142,776

139,697

Aug

142,828

139,346

Sep

142,353

138,976

Oct

141,470

138,981

135.9

Nov

D

J

F

M

A

M

J

J

A

S

O

N

141,406

137,917

8 Metro Atlanta Economic Indicators / January 2002

Georgia Department of Labor

Business Services Employment

251.8

1999-2000

2000-2001

238.7

Monthly Data
Seasonally Adjusted

THOUSANDS

225.5

Month 1999-2000 2000-2001

Dec

229,053

232,054

Jan

237,852

237,880

Feb

236,712

230,679

212.4

M ar

235,287

227,689

Apr

230,304

226,107

M ay

234,044

222,922

Jun

235,722

218,957

199.2

Jul

236,804

216,496

Aug

236,422

211,822

Sep

236,526

209,321

Oct

236,141

207,080

186.1

Nov

D

J

F

M

A

M

J

J

A

S

O

N

234,311

199,893

Health Services Employment

136.5

1999-2000

2000-2001

THOUSANDS

133.4

Monthly Data
Seasonally Adjusted

Month 1999-2000 2000-2001

130.4

Dec

125,796

127,609

Jan

125,467

129,051

Feb

125,263

129,412

127.3

M ar

125,433

129,375

Apr

125,595

129,080

M ay

125,013

128,878

Jun

125,540

130,191

124.3

Jul

126,357

132,720

Aug

126,468

132,540

Sep

127,386

131,706

Oct

126,997

133,188

121.3

Nov

D

J

F

M

A

M

J

J

A

S

O

N

128,272

131,590

Social Services Employment
33.2 1999-2000 2000-2001

THOUSANDS

Monthly Data

32.2

Seasonally Adjusted

Month 1999-2000 2000-2001

Dec

31.2

Jan

Feb

M ar

Apr

M ay

30.2

Jun

Jul

Aug

Sep

Oct

29.2

Nov

D

J

F

M

A

M

J

J

A

S

O

N

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 31,609

Georgia Department of Labor

Metro Atlanta Economic Indicators / January 2002

9

Manufacturing Workweek

43.3

1999-2000

2000-2001

HOURS

Monthly Data

41.6

Seasonally Adjusted

Month 1999-2000 2000-2001

Dec

40.0

Jan

Feb

M ar

Apr

M ay

38.3

Jun

Jul

Aug

Sep

Oct

36.7

Nov

D

J

F

M

A

M

J

J

A

S

O

N

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

38.9

39.0

39.0

Manufacturing Earnings

$603

1999-2000 2000-2001

DOLLARS

$585

Monthly Data
Seasonally Adjusted

$568

Month 1999-2000

2000-2001

Dec

$554.69

$553.32

Jan

551.00

552.94

Feb

544.27

555.30

$550

M ar

553.14

553.29

Apr

571.94

548.99

M ay

543.21

569.47

Jun

548.05

583.48

$533

Jul

541.56

558.69

Aug

551.20

567.50

Sep

539.19

536.36

Oct

559.95

562.07

$515

Nov

D

J

F

M

A

M

J

J

A

S

O

N

553.62

557.87

Deflated Manufacturing Earnings

$348

1999-2000 2000-2001

DOLLARS

$336

Monthly Data
Seasonally Adjusted

$324

Month 1999-2000 2000-2001

Dec

$329.59

$318.00

Jan

326.42

315.79

Feb

320.54

315.87

$312

M ar

323.09

314.01

Apr

333.88

310.34

M ay

316.74

320.46

Jun

317.16

327.80

$300

Jul

313.40

314.75

Aug

319.35

319.72

Sep

310.41

300.82

Oct

321.81

316.30

$288

Nov

D

J

F

M

A

M

J

J

A

S

O

N

317.99

314.47

10 Metro Atlanta Economic Indicators / January 2002

Georgia Department of Labor

Initial Unemployment Claims
25.1 1999-2000 2000-2001

THOUSANDS

20.2

Monthly Data

Seasonally Adjusted

Month 1999-2000 2000-2001

15.3

Dec

6,349

8,018

Jan

7,041

11,771

Feb

7,361

10,389

10.4

M ar

6,019

10,071

Apr

5,755

11,221

M ay

6,848

12,049

Jun

7,454

10,804

5.5

Jul

6,851

11,858

Aug

8,054

12,786

Sep

7,050

12,396

Oct

7,531

19,157

0.6

Nov

D

J

F

M

A

M

J

J

A

S

O

N

7,694

17,184

Continued Unemployment Claims

237.5

1999-2000 2000-2001

THOUSANDS

190.1

Monthly Data
Seasonally Adjusted

142.7

Month 1999-2000 2000-2001

Dec

52,107

63,229

Jan

64,099

84,799

Feb

55,856

79,998

95.3

M ar

51,222

76,174

Apr

54,121

112,110

M ay

64,530

102,500

Jun

51,960

100,899

47.9

Jul

60,800

123,380

Aug

60,917

125,602

Sep

59,395

130,577

Oct

71,422

185,761

0.5

Nov

D

J

F

M

A

M

J

J

A

S

O

N

60,067

163,904

Total Unemployment Rate
4.5 1999-2000 2000-2001

PERCENTAGES

4.0

Monthly Data

Not Seasonally Adjusted

Month 1999-2000 2000-2001

3.4

Dec

2.6 %

2.4 %

Jan

2.8

2.7

Feb

3.1

3.1

2.9

Mar

3.1

3.1

Apr

2.8

2.9

May

3.0

3.0

Jun

3.6

3.5

2.3

Jul

3.3

3.4

Aug

3.1

3.5

Sep

3.1

3.7

Oct

2.9

3.9

1.8

Nov

D

J

F

M

A

M

J

J

A

S

O

N

2.5

3.9

Georgia Department of Labor

Metro Atlanta Economic Indicators / January 2002 11

iInsured Unemployment Rate

2.55

1999-2000 2000-2001

2.04

Monthly Data

Seasonally Adjusted

PERCENTAGES

Month 1999-2000 2000-2001 1.54

Dec

0.64 %

0.77 %

Jan

0.70

0.83

Feb

0.64

0.86

1.04

M ar

0.63

0.92

Apr

0.63

1.03

M ay

0.64

1.14

Jun

0.65

1.24

0.53

Jul

0.66

1.34

Aug

0.69

1.46

Sep

0.69

1.71

Oct

0.67

1.72

0.03

Nov

D

J

F

M

A

M

J

J

A

S

O

N

0.69

1.98

MMARTA Passengers

7.8 1999-2000 2000-2001

MILLIONS

7.2

Monthly Data

Seasonally Adjusted

Month 1999-2000 2000-2001

6.6

Dec

6,542,000

6,194,000

Jan

6,476,000

6,799,000

Feb

6,589,000

6,221,000

6.0

M ar

6,703,000

6,433,000

Apr

6,263,000

6,284,000

M ay

6,671,000

6,578,000

Jun

7,068,000

6,539,000

5.4

Jul

5,995,000

5,457,000

Aug

6,648,000

6,168,000

Sep

6,490,000

5,915,000

Oct

6,503,000

5,982,000

Nov 4.8

D

J

F

M

A

M

J

J

A

S

O

N

6,459,000

5,870,000

Cobb Community Transit Passengers

249.6

1999-2000 2000-2001

205.5

Monthly Data
Seasonally Adjusted

THOUSANDS

161.4

Month 1999-2000 2000-2001

Dec

140,513

124,577

Jan

89,020

137,730

Feb

136,507

129,505

117.2

M ar

140,823

176,786

Apr

174,709

149,578

M ay

196,736

170,072

Jun

126,596

179,771

73.1

Jul

126,250

175,748

Aug

137,760

191,556

Sep

132,960

173,999

Oct

135,407

182,121

29.0

Nov

D

J

F

M

A

M

J

J

A

S

O

N

135,877

191,473

12 Metro Atlanta Economic Indicators / January 2002

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

Dec

4,618

4,569

Jan

5,639

6,236

Feb

5,305

6,386

4.8

M ar

5,801

5,197

Apr

6,037

5,355

M ay

5,789

5,884

Jun

5,453

6,482

3.9

Jul

5,416

5,487

Aug

5,074

5,196

Sep

4,936

4,779

Oct

4,169

4,790

3.1

Nov

D

J

F

M

A

M

J

J

A

S

O

N

5,153

4,730

Nonresidential Construction

$710

1999-2000 2000-2001

MILLIONS

$592

Monthly Data
Seasonally Adjusted

$474

Month 1999-2000 2000-2001

Dec

$448,218,000 $313,388,000

Jan

306,194,000

348,961,000

Feb

249,729,000

329,048,000

$356

M ar

341,706,000

309,722,000

Apr

559,751,000

457,811,000

M ay

368,432,000

295,318,000

Jun

546,766,000

290,681,000

$238

Jul

277,576,000

386,935,000

Aug

270,611,000

314,383,000

Sep

411,800,000

346,553,000

Oct

359,115,000

351,160,000

$120

Nov

D

J

F

M

A

M

J

J

A

S

O

N

253,203,000

434,011,000

Deflated Nonresidential Construction

$410

1999-2000 2000-2001

$341

Monthly Data
Seasonally Adjusted

MILLIONS

$271

Month 1999-2000 2000-2001

Dec

$266,321,000 $180,108,000

Jan

181,395,000

199,292,000

Feb

147,072,000

187,172,000

$202

M ar

199,595,000

175,779,000

Apr

326,766,000

258,796,000

M ay

214,829,000

166,189,000

Jun

316,416,000

163,304,000

$132

Jul

160,634,000

217,992,000

Aug

156,785,000

177,117,000

Sep

237,075,000

194,365,000

Oct

206,388,000

197,614,000

$63

Nov

D

J

F

M

A

M

J

J

A

S

O

N

145,435,000

244,651,000

Georgia Department of Labor

Metro Atlanta Economic Indicators / January 2002 13

Hotel Occupancy
76.4 1999-2000

2000-2001

69.9

Monthly Data

Seasonally Adjusted

PERCENTAGES

Month 1999-2000 2000-2001

63.3

Dec

60.08 %

61.87 %

Jan

66.59

65.81

Feb

65.04

64.80

56.7

M ar

64.95

67.35

Apr

63.05

62.14

M ay

64.49

63.76

Jun

67.51

64.97

50.2

Jul

68.05

60.79

Aug

67.15

63.85

Sep

67.87

51.74

Oct

64.71

57.20

43.6

Nov

D

J

F

M

A

M

J

J

A

S

O

N

65.64

56.77

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

DOLLARS

$91

Monthly Data

Seasonally Adjusted

Month 1999-2000 2000-2001 $85

Dec

Jan

Feb

$78

M ar

Apr

M ay

Jun

$71

Jul

Aug

Sep

Oct

$64

Nov

D

J

F

M

A

M

J

J

A

S

O

N

$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 74.36

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

$54

Monthly Data

Seasonally Adjusted

DOLLARS

Month 1999-2000 2000-2001 $49

Dec

Jan

Feb

$44

M ar

Apr

M ay

Jun

$39

Jul

Aug

Sep

Oct

$35

Nov

D

J

F

M

A

M

J

J

A

S

O

N

$45.54 53.32 46.52 46.59 47.68 45.37 45.97 45.45 46.00 46.96 45.52 45.39

$44.07 47.82 46.51 46.02 44.24 45.76 46.07 42.36 45.32 40.13 43.76 41.92

14 Metro Atlanta Economic Indicators / January 2002

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

D

J

F

M

A

M

J

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

Monthly Data
Not Seasonally Adjusted

Month

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

J

A

S

O

N

* Does not include points

1999-2000
8.04 % 8.19 8.37 8.28 8.12 8.55 8.26 8.16 8.04 7.95 7.81 7.79

2000-2001
7.45 % 7.17 7.13 7.02 7.11 7.22 7.22 7.18 7.01 6.82 6.62 6.72

8.33

PERCENTAGES

7.57

6.80

6.04

5.27

D

J

F

M

A

M

J

J

A

S

O

N

* 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

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

Nov

7.45

6.24

7.46

Monthly Data

Not Seasonally Adjusted

PERCENTAGES

Month

1999-2000 2000-2001

6.64

Dec

6.51 %

6.92 %

Jan

6.72

6.50

Feb

6.93

6.22

5.81

M ar

6.90

6.00

Apr

6.82

5.83

M ay

7.09

5.79

Jun

7.22

5.71

4.99

Jul

7.26

5.67

Aug

7.35

5.57

Sep

7.34

5.38

Oct

7.14

5.05

4.16

Nov

D

J

F

M

A

M

J

J

A

S

O

N

7.06

5.05

* Does not include points

Georgia Department of Labor

Metro Atlanta Economic Indicators / January 2002 15

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