Metro Atlanta economic indicators, monthly report, Vol. 4, no. 12 (Feb. 2002)

AT L A N TA

METROPOLITAN
Economic

Indicators

A Monthly Report of Atlanta Labor Market and Economic Trends

.A>HK=HO

Volume 4, Issue 12

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 12 February 2002

December 2001 Data
Cover art: Birthplace of Martin Luther King Jr., 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 / .ebruary 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 / .ebruary 2002

Georgia Department of Labor

Consumer Price Index for Atlanta

YEAR

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

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

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% 3.8%

119.1 124.9 130.8 135.5 138.6

121.7 127.3 132.6 136.2 138.5

3.3% 4.7% 4.4% 3.2% 1.9%

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

3.5% 2.3% 2.9% 3.4% 1.9% 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

174.8 1.7%

Source: U.S. Bureau of Labor Statistics

The CPI for Atlanta Declines 1.1 Percent

The Consumer Price Index for all Urban Consumers (CPI-U) for Atlanta declined 1.1 percent over the two months ending in December, not seasonally adjusted, to a level of 174.8 (198284=100), as reported by the Bureau of Labor Statistics of the U.S. Department of Labor. For the 12-month period ending in December, the CPI-U for Atlanta increased 1.7 percent.
Over the two months, the all items index reflected lower costs for apparel and transportation. After rising 3.4 percent over the first six months of the year, the all items index has declined 1.7 percent since June. The 1.7 percent increase for calendar year 2001 compares to a 2.9 percent increase for calendar year 2000.
Among the special indexes compiled, energy costs declined 11.0 percent over the past two months due to declines in gasoline costs. Excluding food and

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%

energy, the CPI-U for Atlanta dropped 0.4 percent over the past two months.
Housing costs registered a slight 0.1 percent decrease, despite a 0.2 percent increase in the cost of shelter. Fuels and utilities costs declined 0.3 percent, reflecting lower costs for electricity. Costs for utility natural gas service rose

1.9 percent over the past two months. For the calendar year, electricity costs rose 0.8 percent, while utility natural gas service declined by 0.8 percent. Overall, electricity costs rose 3.9 percent over the year, while costs for utility natural gas service declined 11.8 percent.
Transportation costs decreased 3.7 percent over the past two months, reflecting lower costs for gasoline. Gasoline costs have decreased 25.6 percent over the past two months and have declined 29.9 percent since December 2000. For calendar year 2001, transportation costs in the Atlanta area decreased 3.3 percent.
The medical index declined 1.5 percent in December after rising 0.8 percent in the September-October pricing period. With the most recent decrease, consumers' costs for medical care in the Atlanta area are now 2.0 percent higher than they were last December.

Georgia Department of Labor

Metro Atlanta Economic Indicators / .ebruary 2002 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

Note: All indicators are seasonally adjusted

Atlanta's Coincident Economic Indicator Continues to Decline

The Georgia Department of Labor's Index of Leading Economic Indicators for the Atlanta metropolitan area increased 0.3 percent in December to 151.8 from a revised 151.4 in November, after seasonal adjustment.
Initial jobless claims closed out the year on a positive note, dropping 21.6 percent, while continued unemployment claims increased 18.9 percent. Residential construction slipped slightly in December, down 7.6 percent. However, the housing sector has performed rather well, despite the slowing economy. Nonresidential construction continues to struggle as the value of construction dropped 60.8 percent in December. Over the last year, the market has been flooded with excess office space, due to business closings and corporate downsizing.

The Index of Coincident Indicators dropped 2.3 percent in December, to a level of 127.8 from a revised 130.9, after seasonal adjustment.
Nonagricultural employment remained weak as the year ended, employment contracted 0.5 percent in December. Retail employment also declined, down 0.5 percent. Business services which is a closely watched sector for employment expansions was down 0.7 percent during the month. Transportation and public utilities was the hardest hit sector this month, down 2.6 percent, adding to the 2.3 percent decline in November. Unemployment in the metro area increased to 4.2 percent, well above last year's rate at this time.
The band width separation of the two economic indicators has increased significantly in the past year. The chart above displays the trajectory of the two indexes over the past eight years.

Notice how the two indicators moved in tandem in the late 1990's, when the economy was in expansion mode.
The Coincident Economic Indicator, which measures current conditions peaked in the middle of 1996, fueled by the economic expansion of the 96 Olympics. However, over the past year the (CEI) index has declined rapidly, displaying the turn of events that have stifled the economic prosperity enjoyed in the past decade.
The v-shaped curvature of the Leading Economic Indicator (LEI) in the last quarter of 2001 captured the state of the economy after the terrorist attacks on September 11th.
The economy in the metro area may seem to be in a dismal state as the year comes to an end; nevertheless, all of the fundamentals that led the nation in job growth in the 90's are still in place for an economic recovery in 2002.

4 Metro Atlanta Economic Indicators / .ebruary 2002

Georgia Department of Labor

Data Summary
December 2001 Data

Metro Atlanta Economic Indicator

Dec 2001

Nov 2001

Dec 2000

Percent Change Nov 2001
to Dec 2001

Percent Change Dec 2000
to Dec 2001

Nonagricultural Employment

2,159,551

Wholesale Employment

182,044

Retail Employment

398,141

Services Employment

659,860

Manufacturing Employment

212,152

Government Employment

273,734

Construction Employment

110,150

Transp. & Pub. Utilities Employment

183,250

Finance, Insurance & Realty Employment

137,900

Business Services Employment

199,623

Health Services Employment

132,575

Social Services Employment

31,152

Manufacturing Workweek

39.4

Manufacturing Earnings

$569.54

Deflated Manufacturing Earnings

$322.32

Initial Unemployment Claims

13,462

Continued Unemployment Claims

194,975

Total Unemployment Rate (not seasonally adjusted) 4.2%

Insured Unemployment Rate

1.97%

MARTA Passengers

5,815,000

Cobb County Transit Passengers

172,713

Residential Construction (household units)

4,369

Nonresidential Construction (value)

$169,723,000

Deflated Nonresidential Construction

$96,051

Hotel Occupancy

56.1%

Average Hotel Room Rates

$74.22

Deflated Average Hotel Room Rate

$42.00

Average 30-Year Fixed Mortgage Rate

7.17%

Average 15-Year Fixed Mortgage Rate

6.65%

Average One-Year Adjustable Mortgage Rate

5.26%

Georgia Department of Labor

2,171,102 182,903 400,317 661,201 212,549 272,944 112,176 188,314 138,117 201,086 131,790 31,609 39.3 $564.70 $318.32 17,184 163,904 3.9% 1.98%
5,870,000 191,473 4,730
$434,011,000 $244,651 56.8% $74.36 $41.92 6.72% 6.24% 5.05%

2,219,937 179,803 404,998 684,848 221,188 269,478 119,007 195,665 142,389 232,054 127,609 30,448 38.7 $553.32 $318.00 8,018 63,229 2.4% 0.77%
6,194,000 124,577 4,569
$313,388,000 $180,108 61.9% $76.69 $44.07 7.45% 7.09% 6.92%

-0.53 -0.47 -0.54 -0.20 -0.19 0.29 -1.81 -2.69 -0.16 -0.73 0.60 -1.45 0.23 0.86 1.26 -21.66 18.96
-0.94 -9.80 -7.63 -60.89 -60.74 -0.19 0.21 -

-2.72 1.25 -1.69 -3.65 -4.08 1.58 -7.44 -6.35 -3.15 -13.98 3.89 2.31 2.00 2.93 1.36 67.89 208.37
-6.12 38.64 -4.36 -45.84 -46.67 -3.22 -4.70 -

Metro Atlanta Economic Indicators / .ebruary 2002 5

Nonagricultural Employment
2.27 2000 2001

MILLIONS

2.24

Monthly Data

Seasonally Adjusted

Month

2 000

2.21

Jan

2,177,178

Feb

2,180,802

M ar

2,189,717

2.18

Apr

2,187,603

M ay

2,196,843

Jun

2,203,692

Jul

2,203,998

2.16

Aug

2,207,756

Sep

2,210,318

Oct

2,214,096

Nov

2,217,730

2.13

Dec

J

F

M

A

M

J

J

A

S

O

N

D

2,219,937

Wholesale Employment

191.0

2000 2001

2001
2,229,649 2,223,747 2,224,161 2,232,955 2,233,780 2,232,903 2,218,291 2,213,989 2,203,500 2,191,238 2,171,102 2,159,551

THOUSANDS

187.0

Monthly Data
Seasonally Adjusted

183.0

Month

Jan

Feb

M ar

179.0

Apr

M ay

Jun

Jul

175.0

Aug

Sep

Oct

Nov

171.0

Dec

J

F

M

A

M

J

J

A

S

O

N

D

2000
175,967 176,547 177,023 177,091 177,469 177,948 178,901 178,573 179,126 178,964 178,999 179,803

Retail Employment

423.4

2000 2001

2001
180,060 180,530 181,774 185,920 184,781 185,309 182,986 184,248 184,838 185,079 182,903 182,044

414.1

Monthly Data
Seasonally Adjusted

THOUSANDS

404.8

Month

Jan

Feb

M ar

395.6

Apr

M ay

Jun

Jul

386.3

Aug

Sep

Oct

Nov

377.0

Dec

J

F

M

A

M

J

J

A

S

O

N

D

2000
388,590 390,012 392,847 393,161 394,837 395,986 396,628 395,827 394,649 399,385 402,555 404,998

2001
406,387 403,654 405,595 407,984 411,778 411,087 410,488 407,290 405,813 403,089 400,317 398,141

6 Metro Atlanta Economic Indicators / .ebruary 2002

Georgia Department of Labor

Services Employment

712.1

2000 2001

698.8

Monthly Data
Seasonally Adjusted

THOUSANDS

685.6

Month

Jan

Feb

M ar

672.3

Apr

M ay

Jun

Jul

659.1

Aug

Sep

Oct

Nov

645.8

Dec

J

F

M

A

M

J

J

A

S

O

N

D

2000
680,244 680,489 681,174 678,175 679,445 685,415 685,642 683,187 685,468 686,496 688,714 684,848

Manufacturing Employment

229.5

2000 2001

2001
696,587 690,355 688,743 690,425 688,247 684,696 681,899 677,929 672,717 669,519 661,201 659,860

THOUSANDS

224.9

Monthly Data
Seasonally Adjusted

220.3

Month

Jan

Feb

M ar

215.7

Apr

M ay

Jun

Jul

211.0

Aug

Sep

Oct

Nov

206.4

Dec

J

F

M

A

M

J

J

A

S

O

N

D

2000
223,665 223,032 223,415 222,160 221,476 221,564 222,468 223,859 223,287 222,052 221,192 221,188

Government Employment

280.4

2000 2001

2001
217,659 219,125 219,237 219,049 219,279 218,476 217,784 216,092 216,917 215,004 212,549 212,152

THOUSANDS

275.1

Monthly Data
Seasonally Adjusted

Month

269.9

Jan

Feb

M ar

264.6

Apr

M ay

Jun

Jul

259.3

Aug

Sep

Oct

Nov

254.0

Dec

J

F

M

A

M

J

J

A

S

O

N

D

2000
261,483 263,084 263,951 265,024 270,120 265,272 260,779 262,447 267,327 268,992 268,548 269,478

2001
268,056 270,653 270,687 272,463 273,977 272,274 265,423 271,444 272,986 272,101 272,944 273,734

Georgia Department of Labor

Metro Atlanta Economic Indicators / .ebruary 2002 7

Construction Employment

128.7

2000 2001

THOUSANDS

123.8

Monthly Data
Seasonally Adjusted

Month

118.9 Jan

Feb

M ar

114.0

Apr

M ay

Jun

Jul

109.1

Aug

Sep

Oct

Nov

104.3

Dec

J

F

M

A

M

J

J

A

S

O

N

D

Transportation and Public Utilities Employment

207.0

2000 2001

2000
116,353 117,198 119,330 118,994 119,517 120,611 122,405 123,257 121,707 119,390 119,024 119,007

2001
122,963 121,916 119,714 118,571 118,355 118,534 120,301 116,603 112,796 111,497 112,176 110,150

THOUSANDS

198.5

Monthly Data
Seasonally Adjusted

Month

2000

Jan

190.0

Feb

M ar

Apr

M ay

Jun

181.5

Jul

Aug

Sep

Oct

Nov

173.0

Dec

J

F

M

A

M

J

J

A

S

O

N

D

191,495 191,823 192,932 190,479 191,002 191,590 191,813 193,792 194,246 194,161 194,987 195,665

Finance, Insurance and Realty Employment

145.0

2000 2001

2001
196,061 197,930 198,164 197,014 197,337 198,223 197,014 197,820 195,858 193,266 188,314 183,250

143.1

Monthly Data
Seasonally Adjusted

THOUSANDS

141.3

Month

Jan

Feb

M ar

139.5

Apr

M ay

Jun

Jul

137.7

Aug

Sep

Oct

Nov

135.9

Dec

J

F

M

A

M

J

J

A

S

O

N

D

2000
138,348 138,191 138,065 141,521 141,935 142,025 142,776 142,828 142,353 141,470 141,406 142,389

2001
141,110 140,125 139,794 140,346 140,052 140,649 139,697 139,346 138,976 138,981 138,117 137,900

8 Metro Atlanta Economic Indicators / .ebruary 2002

Georgia Department of Labor

Business Services Employment

249.6

2000 2001

205.5

Monthly Data
Seasonally Adjusted

THOUSANDS

161.4

Month Jan

Feb

M ar

117.2

Apr

M ay

Jun

Jul

73.1

Aug

Sep

Oct

Nov

29.0

Dec

J

F

M

A

M

J

J

A

S

O

N

D

2000
237,852 236,712 235,287 230,304 234,044 235,722 236,804 236,422 236,526 236,141 234,311 232,054

Health Services Employment

136.5

2000 2001

THOUSANDS

133.4

Monthly Data
Seasonally Adjusted

Month

130.4

Jan

Feb

M ar

127.4

Apr

M ay

Jun

Jul

124.3

Aug

Sep

Oct

Nov

121.3

Dec

J

F

M

A

M

J

J

A

S

O

N

D

2000
125,467 125,263 125,433 125,595 125,013 125,540 126,357 126,468 127,386 126,997 128,272 127,609

Social Services Employment
33.2 2000 2001

2001
237,880 230,679 227,689 226,107 222,922 218,957 216,496 211,822 209,321 207,080 201,086 199,623
2001
129,051 129,412 129,375 129,080 128,878 130,191 132,720 132,540 131,706 133,188 131,790 132,575

THOUSANDS

Monthly Data

32.2

Seasonally Adjusted

Month

2000

Jan

31.2

Feb

M ar

Apr

M ay

Jun

30.2

Jul

Aug

Sep

Oct

Nov

29.2

Dec

J

F

M

A

M

J

J

A

S

O

N

D

31,018 31,167 31,473 30,567 30,671 30,567 30,492 30,625 30,500 30,485 30,524 30,448

2001
30,436 30,986 30,683 31,074 30,859 30,764 31,425 31,854 31,404 30,967 31,609 31,152

Georgia Department of Labor

Metro Atlanta Economic Indicators / .ebruary 2002 9

Manufacturing Workweek
43.3 2000 2001

HOURS

Monthly Data

41.6

Seasonally Adjusted

Month

Jan

40.0

Feb

M ar

Apr

M ay

Jun

38.3

Jul

Aug

Sep

Oct

Nov

36.7

Dec

J

F

M

A

M

J

J

A

S

O

N

D

2000
40.5 40.2 40.5 41.4 40.0 40.1 39.6 39.9 38.7 39.8 39.0 38.7

Manufacturing Earnings

$603

2000 2001

2001
39.2 39.0 38.9 38.6 39.7 40.2 38.6 39.9 39.0 38.9 39.3 39.4

DOLLARS

$585

Monthly Data
Seasonally Adjusted

$568

Month

Jan

Feb

M ar

$550

Apr

M ay

Jun

Jul

$533

Aug

Sep

Oct

Nov

$515

Dec

J

F

M

A

M

J

J

A

S

O

N

D

2000
$551.00 544.27 553.14 571.94 543.21 548.05 541.56 551.20 539.19 559.95 553.62 553.32

Deflated Manufacturing Earnings

$348

2000 2001

2001
$552.94 555.30 553.29 548.99 569.47 583.48 558.69 567.50 536.36 562.07 564.70 569.54

DOLLARS

$336

Monthly Data
Seasonally Adjusted

$324

Month

Jan

Feb

M ar

$312

Apr

M ay

Jun

Jul

$300

Aug

Sep

Oct

Nov

$288

Dec

J

F

M

A

M

J

J

A

S

O

N

D

2000
$326.42 320.54 323.09 333.88 316.74 317.16 313.40 319.35 310.41 321.81 317.99 318.00

2001
$315.79 315.87 314.01 310.34 320.46 327.80 314.75 319.72 300.82 316.30 318.32 322.32

10 Metro Atlanta Economic Indicators / .ebruary 2002

Georgia Department of Labor

Initial Unemployment Claims
25.1 2000 2001

THOUSANDS

20.2

Monthly Data

Seasonally Adjusted

Month

15.3 Jan

Feb

M ar

10.4

Apr

M ay

Jun

Jul

5.5

Aug

Sep

Oct

Nov

0.6

Dec

J

F

M

A

M

J

J

A

S

O

N

D

2000
7,041 7,361 6,019 5,755 6,848 7,454 6,851 8,054 7,050 7,531 7,694 8,018

Continued Unemployment Claims

256.9

2000 2001

2001
11,771 10,389 10,071 11,221 12,049 10,804 11,858 12,786 12,396 19,157 17,184 13,462

THOUSANDS

205.6

Monthly Data
Seasonally Adjusted

154.3

Month

Jan

Feb

M ar

103.0

Apr

M ay

Jun

Jul

51.8

Aug

Sep

Oct

Nov

0.5

Dec

J

F

M

A

M

J

J

A

S

O

N

D

2000
64,099 55,856 51,222 54,121 64,530 51,960 60,800 60,917 59,395 71,422 60,067 63,229

Total Unemployment Rate
5.0 2000 2001

2001
84,799 79,998 76,174 112,110 102,500 100,899 123,380 125,602 130,577 185,761 163,904 194,975

4.3

Monthly Data

Not Seasonally Adjusted

PERCENTAGES

Month

3.6 Jan

Feb

Mar

3.0

Apr

May

Jun

Jul

2.3

Aug

Sep

Oct

Nov

1.7

Dec

J

F

M

A

M

J

J

A

S

O

N

D

2000
2.8 % 3.1 3.1 2.8 3.0 3.6 3.3 3.1 3.1 2.9 2.5 2.4

2001
2.7 % 3.1 3.1 2.9 3.0 3.5 3.4 3.5 3.7 3.9 3.9 4.2

Georgia Department of Labor

Metro Atlanta Economic Indicators / .ebruary 2002 11

iInsured Unemployment Rate

2.55

2000 2001

2.04

Monthly Data

Seasonally Adjusted

PERCENTAGES

Month 1.54

Jan

Feb

M ar

1.04

Apr

M ay

Jun

Jul

0.53

Aug

Sep

Oct

Nov

0.03

Dec

J

F

M

A

M

J

J

A

S

O

N

D

MMARTA Passengers

2000
0.70 % 0.64 0.63 0.63 0.64 0.65 0.66 0.69 0.69 0.67 0.69 0.77

7.8 2000 2001

2001
0.83 % 0.86 0.92 1.03 1.14 1.24 1.34 1.46 1.71 1.72 1.98 1.97

MILLIONS

7.2

Monthly Data

Seasonally Adjusted

6.6

6.0

5.4

4.8

J

F

M

A

M

J

Month

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

J

A

S

O

N

D

2000
6,476,000 6,589,000 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

Cobb Community Transit Passengers

249.6

2000 2001

2001
6,799,000 6,221,000 6,433,000 6,284,000 6,578,000 6,539,000 5,457,000 6,168,000 5,915,000 5,982,000 5,870,000 5,815,000

205.5

Monthly Data
Seasonally Adjusted

THOUSANDS

161.4

Month

Jan

Feb

M ar

117.2

Apr

M ay

Jun

Jul

73.1

Aug

Sep

Oct

Nov

29.0

Dec

J

F

M

A

M

J

J

A

S

O

N

D

2000
89,020 136,507 140,823 174,709 196,736 126,596 126,250 137,760 132,960 135,407 135,877 124,577

2001
137,730 129,505 176,786 149,578 170,072 179,771 175,748 191,556 173,999 182,121 191,473 172,713

12 Metro Atlanta Economic Indicators / .ebruary 2002

Georgia Department of Labor

Residential Construction
7.5 2000 2001

6.6

Monthly Data

Seasonally Adjusted

HOUSEHOLD UNITS ( THOUSANDS )

Month

5.7

Jan

Feb

M ar

4.8

Apr

M ay

Jun

Jul

3.9

Aug

Sep

Oct

Nov

3.1

Dec

J

F

M

A

M

J

J

A

S

O

N

D

2000
5,639 5,305 5,801 6,037 5,789 5,453 5,416 5,074 4,936 4,169 5,153 4,569

Nonresidential Construction

$710

2000 2001

2001
6,236 6,386 5,197 5,355 5,884 6,482 5,487 5,196 4,779 4,790 4,730 4,369

MILLIONS

$570

Monthly Data
Seasonally Adjusted

$430

Month

2000

2001

Jan

$306,194,000 $348,961,000

Feb

249,729,000

329,048,000

M ar

341,706,000

309,722,000

$290

Apr

559,751,000

457,811,000

M ay

368,432,000

295,318,000

Jun

546,766,000

290,681,000

Jul

277,576,000

386,935,000

$150

Aug

270,611,000

314,383,000

Sep

411,800,000

346,553,000

Oct

359,115,000

351,160,000

Nov

253,203,000

434,011,000

$10

Dec

J

F

M

A

M

J

J

A

S

O

N

D

313,388,000

169,723,000

Deflated Nonresidential Construction

$426

2000 2001

$342

Monthly Data
Seasonally Adjusted

MILLIONS

$258

Month

2000

2001

Jan

$181,395,000 $199,292,000

Feb

147,072,000

187,172,000

M ar

199,595,000

175,779,000

$174

Apr

326,766,000

258,796,000

M ay

214,829,000

166,189,000

Jun

316,416,000

163,304,000

Jul

160,634,000

217,992,000

$90

Aug

156,785,000

177,117,000

Sep

237,075,000

194,365,000

Oct

206,388,000

197,614,000

Nov

145,435,000

244,651,000

$6

Dec

J

F

M

A

M

J

J

A

S

O

N

D

180,108,000

96,051,000

Georgia Department of Labor

Metro Atlanta Economic Indicators / .ebruary 2002 13

Hotel Occupancy
76.4 2000 2001

69.9

Monthly Data

Seasonally Adjusted

PERCENTAGES

Month 63.3
Jan

Feb

M ar

56.7

Apr

M ay

Jun

Jul

50.2

Aug

Sep

Oct

Nov

43.6

Dec

J

F

M

A

M

J

J

A

S

O

N

D

2000
66.59 % 65.04 64.95 63.05 64.49 67.51 68.05 67.15 67.87 64.71 65.64 61.87

Average Hotel Room Rates
$98 2000 2001

2001
65.81 % 64.80 67.35 62.14 63.76 64.97 60.79 63.85 51.74 57.20 56.77 56.14

DOLLARS

$91

Monthly Data

Seasonally Adjusted

Month $85

Jan

Feb

M ar

$78

Apr

M ay

Jun

Jul

$71

Aug

Sep

Oct

Nov

$64

Dec

J

F

M

A

M

J

J

A

S

O

N

D

2000
$90.00 78.99 79.76 81.68 77.80 79.44 78.54 79.40 81.58 79.20 79.02 76.69

Deflated Average Hotel Room Rates
$58 2000 2001

2001
$83.74 81.77 81.08 78.26 81.32 82.01 75.20 80.45 71.55 77.77 74.36 74.22

$54

Monthly Data

Seasonally Adjusted

DOLLARS

Month $49

Jan

Feb

M ar

$44

Apr

M ay

Jun

Jul

$39

Aug

Sep

Oct

Nov

$35

Dec

J

F

M

A

M

J

J

A

S

O

N

D

2000
$53.32 46.52 46.59 47.68 45.37 45.97 45.45 46.00 46.96 45.52 45.39 44.07

2001
$47.82 46.51 46.02 44.24 45.76 46.07 42.36 45.32 40.13 43.76 41.92 42.00

14 Metro Atlanta Economic Indicators / .ebruary 2002

Georgia Department of Labor

Average 30-Year Fixed Mortgage Rate*
9.38 2000 2001

8.65

PERCENTAGES

7.92

7.19

6.46

5.73

J

F

M

A

M

J

J

Average 15-Year Fixed Mortgage Rate*
9.10 2000 2001

Monthly Data
Not Seasonally Adjusted

Month

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

A

S

O

N

D

* Does not include points

2000
8.19 % 8.37 8.28 8.12 8.55 8.26 8.16 8.04 7.95 7.81 7.79 7.45

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

8.33

PERCENTAGES

7.57

6.80

6.04

5.27

J

F

M

A

M

J

J

A

S

O

N

D

* Does not include points

Average One-Year Adjustable Mortgage Rate*

8.45 2000 2001

Monthly Data
Not Seasonally Adjusted

Month

2000

Jan

7.78 %

Feb

7.96

M ar

7.87

Apr

7.78

M ay

8.27

Jun

8.01

Jul

7.87

Aug

7.78

Sep

7.63

Oct

7.48

Nov

7.45

Dec

7.09

2001
6.74 % 6.73 6.59 6.62 6.70 6.77 6.73 6.53 6.35 6.15 6.24 6.65

7.55

Monthly Data

Not Seasonally Adjusted

PERCENTAGES

Month

6.66

Jan

Feb

M ar

5.77

Apr

M ay

Jun

Jul

4.88

Aug

Sep

Oct

Nov

3.99

Dec

J

F

M

A

M

J

J

A

S

O

N

D

* Does not include points

2000
6.72 % 6.93 6.90 6.82 7.09 7.22 7.26 7.35 7.34 7.14 7.06 6.92

2001
6.50 % 6.22 6.00 5.83 5.79 5.71 5.67 5.57 5.38 5.05 5.05 5.26

Georgia Department of Labor

Metro Atlanta Economic Indicators / .ebruary 2002 15

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