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 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 bill.webb@dol.state.ga.us Bill Webb Workforce Information and Analysis Georgia Department of Labor 148 Andrew Young International Boulevard, N.E. 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