AT L A N TA METROPOLITAN Economic Indicators A Monthly Report of Atlanta Labor Market and Economic Trends May 2001 Volume 4, Issue 3 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 3 May 2001 March 2001 Data Cover art: Bulloch Hall, Historic Roswell, circa 1840 by Carol Hendley Foster, Roswell, 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 / May 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 / May 2001 Georgia Department of Labor Consumer Price Index for the South 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 Jan 110.2 114.1 118.9 124.6 131.4 134.4 138.4 142.5 146.7 151.1 155.7 157.6 159.9 164.0 169.3 Feb 62.4 68.9 78.5 87.8 95.1 98.0 102.4 105.7 108.9 110.7 114.4 119.2 125.4 131.7 134.9 139.1 142.9 147.4 151.5 156.1 157.8 160.0 164.7 170.2 Mar 111.1 114.8 119.8 126.0 131.9 135.5 139.7 143.6 148.0 152.4 156.5 158.2 160.6 166.4 170.6 Apr 63.5 70.3 80.6 89.0 94.7 98.8 103.1 106.4 107.9 111.5 115.4 120.8 126.1 132.1 135.9 140.2 143.8 148.4 153.2 156.7 158.5 161.5 166.6 May 111.8 115.6 121.3 126.5 132.5 136.2 140.7 144.3 148.8 153.5 156.6 158.8 161.6 166.6 Jun 64.9 72.2 82.2 90.4 97.0 99.6 103.6 107.1 108.7 112.2 116.1 121.7 127.3 132.8 136.7 140.8 144.7 149.1 154.0 157.0 159.1 161.7 167.4 Jul 112.6 116.6 122.0 127.8 133.0 136.8 140.9 145.0 149.2 154.0 157.0 159.3 162.2 167.9 Aug 65.9 73.6 82.7 91.9 97.6 100.2 104.3 107.6 108.7 112.9 117.0 122.1 128.7 133.3 137.0 141.5 145.5 149.7 154.1 157.1 159.5 162.6 168.0 Sep 113.5 117.7 122.5 129.7 133.8 137.3 141.6 145.8 149.8 154.5 157.5 159.5 163.2 168.5 Oct 66.8 75.0 84.2 93.0 98.0 101.2 105.1 108.3 109.4 113.8 118.2 123.0 130.7 134.1 137.8 142.2 145.9 150.5 154.9 157.8 159.8 163.6 168.5 Nov 114.1 118.3 123.2 130.9 134.4 138.1 142.3 146.0 150.4 155.1 157.8 159.6 163.5 168.6 Dec 67.7 76.3 85.8 94.3 97.8 101.3 105.3 108.7 109.7 114.0 118.5 123.4 130.9 134.3 137.9 142.2 146.1 150.3 155.1 157.3 159.6 163.6 168.4 Rate 9.9 12.7 12.5 9.9 3.7 3.6 3.9 3.2 0.9 3.9 3.9 4.1 6.1 2.6 2.7 3.1 2.7 2.9 3.2 1.4 1.5 2.5 2.9 Source: U.S. Bureau of Labor Statistics CPI South increased 0.2 percent during March Urban Consumers (CPI-U) for the South, increased 0.2 percent, not seasonally adjusted, to a level of 170.6 (1982-84= 100), for the month of March, according to data released by the U.S. Department of Labor's Bureau of Labor Statistics. For the 12-month period ending in March, the CPI-U for the South increased 2.5 percent. Over the month, higher costs for housing and apparel were the primary reasons for the increase in the index. These increases were partially offset by a drop in the cost of transportation. Energy costs decreased 1.7 percent in March, as the costs for motor fuels and household fuel and utilities declined. The drop compared to increases of 2.3 and 1.2 percent in January and February, respectively. Following is the formula for figur- ing Consumer Price Index changes from one point in time to another. Index point change CPI 112.5 Less previous index 108.5 Equals index point change 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% Housing costs rose 0.4 percent in March. Higher costs for shelter (0.6 percent) contributed to the increase. Fuel and utilities costs decreased 0.2 percent over the month, as higher costs for electricity were more than offset by lower costs for utility natural gas. The index for apparel increased 3.3 percent over the month, which is typical of this index to record its largest gains this time of year. The transportation index declined 0.8 percent over the month. Lower costs for gasoline, combined with lower costs for new vehicles, brought the index to a level equal to a year ago. The long-term trend of rising medical costs continued in March. The index rose 0.5 percent, after rising 0.6 percent in January and 0.4 percent in February. The majority of the increase was due to a 0.5 percent increase in the index for medical services. The remaining component is medical care commodities, which rose 0.6 percent in March. Georgia Department of Labor Metro Atlanta Economic Indicators / May 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 93 94 95 96 97 98 99 00 01 Atlanta's Leading Index decreased slightly in March The Georgia Department of Labor's Index of Leading Economic Indicators for the Atlanta Metropolitan Area decreased 0.1 percent in March, to a level of 147.5 from a revised 148.9, after seasonal adjustment. The average index for the first quarter of 2001 was 147.9, a .03 percent increase over the first quarter's average of 2000 which was 144.3. Productivity softened during the month of March. The value of construction spending on nonresidential projects fell for a second consecutive month, to a level of $309,7 million. Nonagricultural employment also decreased 0.02 percent in March, after seasonal adjustment. Residential construction and construction employment decreased 18.62 and 1.79 percent, respectively ( compared to February's Recent 12 Months Leading Coincident 149.7 146.9 144.0 141.1 138.3 1987-88 = 100 AM J J ASOND J FM 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 conditions. data ) which contributed to moving the index lower. However, other employment sectors remained stable during the month of March. The Index of Coincident Indicators also declined slightly 0.01 percent in March, to a level of 141.64 from a revised 142.55. For the first quarter of 2001 the coincident index registered a three month average of 142.85, which is 0.2 percent below 2000 first quarter's average of 145.18. The unemployment rate for Metropolitan Atlanta was 3.1% for the month of March, matching February's rate. Initial unemployment claims decreased in March. However, claims remain above the previous year's level for the same time period. Thus far any softening in the economy has not translated into higher unemployment rates for Metropolitan Atlanta. 4 Metro Atlanta Economic Indicators / May 2001 Georgia Department of Labor Data Summary March 2001 Data Metro Atlanta Economic Indicators Mar 2001 Feb 2001 Mar 2000 Percent Change Feb 2001 to Mar 2001 Percent Change Mar 2000 to Mar 2001 Nonagricultural Employment 2,223,069 Wholesale Employment 181,642 Retail Employment 405,855 Services Employment 688,706 Manufacturing Employment 219,105 Government Employment 270,924 Construction Employment 119,732 Transp. & Pub. Utilities Employment 197,964 Finance, Insurance & Realty Employment 139,440 Business Services Employment 228,024 Health Services Employment 129,756 Social Services Employment 30,723 Manufacturing Workweek 38.7 Manufacturing Earnings $550.43 Deflated Manufacturing Earnings $313.10 Initial Unemployment Claims 10,071 Continued Unemployment Claims 76,174 Total Unemployment Rate (Not seasonally adjusted) 3.1% Insured Unemployment Rate 0.92% MARTA Passengers 6,433,000 Cobb County Transit Passengers 176,786 Residential Construction (household units) 5,197 Nonresidential Construction (value) $309,722,000 Deflated Nonresidential Construction $176,179 Hotel Occupancy 67.2% Average Hotel Room Rates $81.21 Deflated Average Hotel Room Rate $46.20 Average 30-Year Fixed Mortgage Rate 7.11% Average 15-Year Fixed Mortgage Rate 6.62% Average One-Year Adjustable Mortgage Rate 5.83% 2,223,623 180,488 403,598 690,495 219,349 270,176 121,920 197,934 140,012 230,476 129,562 30,966 38.9 $554.88 $316.90 10,389 79,998 3.1% 0.86% 6,221,000 129,505 6,386 $329,048,000 $187,920 64.8% $81.24 $46.40 7.17% 6.74% 6.50% 2,216,669 179,379 402,572 687,639 227,781 272,236 118,338 189,925 137,927 230,473 127,809 31,211 40.5 $554.03 $326.47 6,019 51,222 3.1% 0.63% 6,703,000 140,823 5,801 $341,706,000 $201,359 64.8% $79.89 $47.08 8.37% 7.96% 6.93% -0.02 0.64 0.56 -0.26 -0.11 0.28 -1.79 0.02 -0.41 -1.06 0.15 -0.78 -0.67 -0.80 -1.20 -3.06 -4.78 3.41 36.51 -18.62 -5.87 -6.25 -0.03 -0.43 - 0.29 1.26 0.82 0.16 -3.81 -0.48 1.18 4.23 1.10 -1.06 1.52 -1.56 -4.45 -0.65 -4.10 67.32 48.71 -4.03 25.54 -10.41 -9.36 -12.51 1.66 -1.87 - Georgia Department of Labor Metro Atlanta Economic Indicators / May 2001 5 Nonagricultural Employment 2.3 1999-2000 2000-2001 MILLIONS 2.2 Monthly Data Seasonally Adjusted Month 1999-2000 2000-2001 2.2 Apr 2,124,054 2,225,822 M ay 2,138,190 2,233,091 Jun 2,150,595 2,230,950 2.2 Jul 2,151,919 2,234,401 Aug 2,166,270 2,233,789 Sep 2,173,027 2,237,468 Oct 2,187,028 2,234,007 2.1 Nov 2,194,366 2,236,144 Dec 2,204,018 2,220,052 Jan 2,200,690 2,229,916 Feb 2,200,799 2,223,623 2.1 M ar A M J J A S O N D J F M 2,216,669 2,223,069 Wholesale Employment 1999-2000 2000-2001 THOUSANDS 183.4 Monthly Data Seasonally Adjusted 180.5 Month 1999-2000 2000-2001 Apr M ay Jun 177.6 Jul Aug Sep Oct 174.8 Nov Dec Jan Feb 171.9 M ar A M J J A S O N D J F M 175,323 176,188 176,661 178,710 178,842 179,220 179,258 179,651 179,387 178,203 177,702 179,379 180,470 179,722 181,436 182,491 181,897 182,540 181,711 181,782 179,446 180,091 180,488 181,642 Retail Employment 425.7 1999-2000 2000-2001 413.1 Monthly Data Seasonally Adjusted THOUSANDS 400.4 Month 1999-2000 2000-2001 Apr M ay Jun 387.8 Jul Aug Sep Oct 375.1 Nov Dec Jan Feb 362.5 M ar A M J J A S O N D J F M 377,665 382,503 385,143 385,924 390,628 391,775 396,027 398,386 404,068 401,211 400,399 402,572 405,683 405,722 405,222 406,310 404,834 404,387 409,441 409,133 405,593 406,364 403,598 405,855 6 Metro Atlanta Economic Indicators / May 2001 Georgia Department of Labor Services Employment 717.6 1999-2000 2000-2001 700.5 Monthly Data Seasonally Adjusted THOUSANDS 683.4 Month 1999-2000 2000-2001 Apr 653,400 692,837 M ay 656,718 692,025 Jun 663,866 694,036 666.3 Jul 665,382 696,955 Aug 672,449 695,790 Sep 672,074 697,213 Oct 678,286 694,387 649.2 Nov 680,198 696,167 Dec 682,415 684,244 Jan 680,728 696,826 Feb 683,200 690,495 632.1 M ar A M J J A S O N D J F M 687,639 688,706 Manufacturing Employment 233.6 1999-2000 2000-2001 THOUSANDS 229.4 Monthly Data Seasonally Adjusted 225.2 Month 1999-2000 2000-2001 Apr M ay Jun 221.1 Jul Aug Sep Oct 216.9 Nov Dec Jan Feb 212.7 M ar A M J J A S O N D J F M 226,820 227,324 227,668 225,189 226,572 226,329 226,540 227,163 226,747 228,775 227,841 227,781 228,063 228,271 228,533 227,601 227,791 228,193 227,675 227,212 220,616 217,770 219,349 219,105 Government Employment 287.6 1999-2000 2000-2001 THOUSANDS 279.5 Monthly Data Seasonally Adjusted 271.4 Month 1999-2000 2000-2001 Apr 259,213 273,289 M ay 259,192 277,849 Jun 258,057 269,742 263.3 Jul 257,336 266,338 Aug 256,695 267,707 Sep 262,650 269,868 Oct 264,446 267,835 255.2 Nov 265,767 267,240 Dec 267,748 269,848 Jan 267,786 268,177 Feb 269,701 270,176 247.2 M ar A M J J A S O N D J F M 272,236 270,924 Georgia Department of Labor Metro Atlanta Economic Indicators / May 2001 7 Construction Employment 127.5 1999-2000 2000-2001 THOUSANDS 123.6 Monthly Data Seasonally Adjusted Month 1999-2000 2000-2001 119.7 Apr 112,673 117,776 M ay 113,735 119,199 Jun 114,648 118,516 115.8 Jul 115,634 120,514 Aug 115,750 121,557 Sep 116,178 120,225 Oct 117,037 117,899 112.0 Nov 117,242 117,628 Dec 117,102 119,081 Jan 117,065 122,950 Feb 116,387 121,920 108.1 M ar A M J J A S O N D J F M 118,338 119,732 Transportation and Public Utilities Employment 205.2 1999-2000 2000-2001 THOUSANDS 199.3 Monthly Data Seasonally Adjusted 193.3 Month 1999-2000 2000-2001 Apr M ay Jun 187.3 Jul Aug Sep Oct 181.4 Nov Dec Jan Feb 175.4 M ar A M J J A S O N D J F M 182,620 183,242 183,229 182,915 185,641 185,833 186,387 186,327 186,429 187,387 187,599 189,925 189,480 190,304 191,488 191,320 192,893 194,043 193,873 194,806 195,608 196,073 197,934 197,964 Finance, Insurance and Realty Employment 145.8 1999-2000 2000-2001 143.4 Monthly Data Seasonally Adjusted THOUSANDS 141.0 Month 1999-2000 2000-2001 Apr M ay 136,472 137,223 138,073 137,947 138.5 Jun 137,994 138,116 Jul 137,453 139,656 Aug 137,036 139,226 Sep 137,316 138,833 136.1 Oct 137,054 138,219 Nov 137,141 138,396 Dec 137,288 143,019 Jan 138,481 141,026 Feb 137,703 140,012 133.7 M ar A M J J A S O N D J F M 137,927 139,440 8 Metro Atlanta Economic Indicators / May 2001 Georgia Department of Labor Business Services Employment 244.5 1999-2000 2000-2001 238.9 Monthly Data Seasonally Adjusted THOUSANDS 233.3 Month 1999-2000 2000-2001 Apr 223,132 232,792 M ay 223,538 230,707 Jun 225,996 228,652 227.7 Jul 225,886 230,302 Aug 230,287 230,796 Sep 230,231 232,261 Oct 232,383 227,089 222.0 Nov 235,406 225,826 Dec 234,764 233,224 Jan 229,307 237,429 Feb 229,547 230,476 216.4 M ar A M J J A S O N D J F M 230,473 228,024 Health Services Employment 136.4 1999-2000 2000-2001 THOUSANDS 133.0 Monthly Data Seasonally Adjusted Month 1999-2000 2000-2001 129.5 Apr 123,164 128,347 M ay 123,195 128,939 Jun 123,732 128,976 126.0 Jul 124,137 129,684 Aug 124,770 129,935 Sep 124,875 130,936 Oct 126,333 131,110 122.5 Nov 125,698 132,361 Dec 125,899 126,949 Jan 127,090 129,064 Feb 127,706 129,562 119.0 M ar A M J J A S O N D J F M 127,809 129,756 Social Services Employment 34.1 1999-2000 2000-2001 THOUSANDS 32.7 Monthly Data Seasonally Adjusted Month 1999-2000 2000-2001 31.2 Apr 28,605 31,617 M ay 29,044 32,118 Jun 29,091 32,272 29.8 Jul 29,035 32,228 Aug 29,282 32,245 Sep 29,721 32,129 Oct 30,602 32,262 28.3 Nov 30,590 32,168 Dec 30,782 30,394 Jan 30,449 30,473 Feb 31,044 30,966 26.8 M ar A M J J A S O N D J F M 31,211 30,723 Georgia Department of Labor Metro Atlanta Economic Indicators / May 2001 9 Manufacturing Workweek 1999-2000 2000-2001 HOURS 41.6 Monthly Data Seasonally Adjusted Month 1999-2000 2000-2001 40.6 Apr 41.0 41.4 M ay 41.2 40.1 Jun 41.0 40.1 39.6 Jul 41.2 39.6 Aug 40.7 39.9 Sep 40.9 38.7 Oct 40.2 39.8 38.5 Nov 40.6 39.0 Dec 40.4 38.7 Jan 40.5 39.2 Feb 40.1 38.9 37.5 M ar A M J J A S O N D J F M 40.5 38.7 Manufacturing Earnings $590 1999-2000 2000-2001 DOLLARS $575 Monthly Data Seasonally Adjusted $560 Month 1999-2000 2000-2001 Apr $541.99 $571.12 M ay 544.30 542.62 Jun 546.67 547.70 $545 Jul 546.23 541.13 Aug 539.92 550.67 Sep 555.89 539.07 Oct 534.19 560.07 $530 Nov 553.49 556.08 Dec 554.94 553.59 Jan 550.38 552.34 Feb 544.01 554.88 $515 M ar 554.03 550.43 A M J J A S O N D J F M Deflated Manufacturing Earnings 1999-2000 2000-2001 DOLLARS $335 Monthly Data Seasonally Adjusted $327 Month 1999-2000 2000-2001 Apr M ay Jun $319 Jul Aug Sep Oct $310 Nov Dec Jan Feb $302 M ar A M J J A S O N D J F M $328.48 327.50 328.92 328.66 323.89 332.67 318.16 329.07 329.73 327.02 322.47 326.47 $333.79 316.95 319.73 314.06 319.05 311.96 322.43 319.59 317.97 317.44 316.90 313.10 10 Metro Atlanta Economic Indicators / May 2001 Georgia Department of Labor Initial Unemployment Claims 1999-2000 2000-2001 THOUSANDS 12.1 Monthly Data Seasonally Adjusted Month 1999-2000 2000-2001 9.8 Apr 6,328 5,755 M ay 5,703 6,848 Jun 5,951 7,454 7.6 Jul 6,879 6,851 Aug 6,383 8,054 Sep 6,245 7,050 Oct 6,372 7,531 5.4 Nov 6,283 7,694 Dec 6,349 8,018 Jan 7,041 11,771 Feb 7,361 10,389 3.2 M ar A M J J A S O N D J F M 6,019 10,071 Continued Unemployment Claims 101.9 1999-2000 2000-2001 THOUSANDS 87.2 Monthly Data Seasonally Adjusted Month 1999-2000 2000-2001 72.6 Apr 51,703 54,121 M ay 48,430 64,530 Jun 56,237 51,960 58.0 Jul 46,519 60,800 Aug 63,232 60,917 Sep 51,275 59,395 Oct 51,991 71,422 43.4 Nov 62,161 60,067 Dec 52,107 63,229 Jan 64,099 84,799 Feb 55,856 79,998 28.7 M ar A M J J A S O N D J F M 51,222 76,174 Total Unemployment Rate 1999-2000 2000-2001 PERCENTAGES 3.7 Monthly Data Not Seasonally Adjusted 3.2 Month 1999-2000 2000-2001 Apr May Jun 2.8 Jul Aug Sep Oct 2.3 Nov Dec Jan Feb 1.9 Mar A M J J A S O N D J F M 2.8 % 2.9 3.5 3.4 3.2 3.2 3.2 2.9 3.0 2.8 3.1 3.1 2.8 % 3.0 3.6 3.3 3.1 3.1 2.9 2.5 2.4 2.7 3.1 3.1 Georgia Department of Labor Metro Atlanta Economic Indicators / May 2001 11 iInsured Unemployment Rate 1999-2000 2000-2001 0.94 Monthly Data Seasonally Adjusted PERCENTAGES 0.83 Month 1999-2000 2000-2001 Apr M ay Jun 0.71 Jul Aug Sep Oct 0.60 Nov Dec Jan Feb 0.48 M ar A M J J A S O N D J F M 0.62 % 0.61 0.61 0.63 0.64 0.63 0.64 0.63 0.64 0.70 0.64 0.63 0.63 % 0.64 0.65 0.66 0.69 0.69 0.67 0.69 0.77 0.83 0.86 0.92 MMARTA Passengers 7.5 1999-2000 2000-2001 MILLIONS 7.1 Monthly Data Seasonally Adjusted Month 1999-2000 2000-2001 6.7 Apr 6,289,000 6,263,000 M ay 6,189,000 6,671,000 Jun 6,194,000 7,068,000 6.3 Jul 6,125,000 5,995,000 Aug 6,270,000 6,648,000 Sep 6,414,000 6,490,000 Oct 6,419,000 6,503,000 5.9 Nov 6,671,000 6,459,000 Dec 6,542,000 6,194,000 Jan 6,476,000 6,799,000 Feb 6,589,000 6,221,000 5.5 M ar A M J J A S O N D J F M 6,703,000 6,433,000 Cobb Community Transit Passengers 249.6 1999-2000 2000-2001 205.5 Monthly Data Seasonally Adjusted THOUSANDS 161.4 Month 1999-2000 2000-2001 Apr 118,615 174,709 M ay 109,473 196,736 Jun 122,062 126,596 117.2 Jul 118,552 126,250 Aug 141,427 137,760 Sep 135,838 132,960 Oct 126,490 135,407 73.1 Nov 120,472 135,877 Dec 140,513 124,577 Jan 89,020 137,730 Feb 136,507 129,505 29.0 M ar A M J J A S O N D J F M 140,823 176,786 12 Metro Atlanta Economic Indicators / May 2001 Georgia Department of Labor Residential Construction 7.5 1999-2000 2000-2001 6.5 Monthly Data Seasonally Adjusted HOUSEHOLD UNITS ( THOUSANDS ) Month 1999-2000 2000-2001 5.6 Apr 4,984 6,037 M ay 3,917 5,789 Jun 5,920 5,453 4.7 Jul 4,991 5,416 Aug 4,812 5,074 Sep 4,391 4,936 Oct 4,243 4,169 3.8 Nov 6,242 5,153 Dec 4,618 4,569 Jan 5,639 6,236 Feb 5,305 6,386 2.9 M ar A M J J A S O N D J F M 5,801 5,197 Nonresidential Construction $710 1999-2000 2000-2001 MILLIONS $587 Monthly Data Seasonally Adjusted $464 Month 1999-2000 2000-2001 Apr $333,517,000 $559,751,000 M ay 344,342,000 368,432,000 Jun 357,596,000 546,766,000 $341 Jul 370,283,000 277,576,000 Aug 405,393,000 270,611,000 Sep 282,640,000 411,800,000 Oct 262,985,000 359,115,000 $218 Nov 272,326,000 253,203,000 Dec 448,218,000 313,388,000 Jan 306,194,000 348,961,000 Feb 249,729,000 329,048,000 $96 M ar A M J J A S O N D J F M 341,706,000 309,722,000 Deflated Nonresidential Construction 1999-2000 2000-2001 $341 Monthly Data Seasonally Adjusted MILLIONS $271 Month 1999-2000 2000-2001 Apr $202,132,000 $327,148,000 M ay 207,185,000 215,206,000 $202 Jun 215,160,000 319,186,000 Jul 222,794,000 161,100,000 Aug 243,187,000 156,785,000 Sep 169,144,000 238,310,000 Oct 156,632,000 206,744,000 $132 Nov 161,906,000 145,519,000 Dec 266,321,000 180,005,000 Jan 181,933,000 200,552,000 Feb 148,031,000 187,920,000 $63 M ar A M J J A S O N D J F M 201,359,000 176,179,000 Georgia Department of Labor Metro Atlanta Economic Indicators / May 2001 13 Hotel Occupancy 71.4 1999-2000 2000-2001 68.5 Monthly Data Seasonally Adjusted PERCENTAGES Month 1999-2000 2000-2001 65.5 Apr 67.65 % 63.50 % M ay 67.43 64.38 Jun 65.95 67.42 62.6 Jul 67.10 67.97 Aug 64.21 67.05 Sep 67.01 67.78 Oct 67.15 64.59 59.7 Nov 65.72 65.51 Dec 60.26 62.09 Jan 66.84 66.06 Feb 65.07 64.83 56.7 M ar A M J J A S O N D J F M 64.78 67.17 Average Hotel Room Rates 1999-2000 2000-2001 DOLLARS $91 Monthly Data Seasonally Adjusted Month 1999-2000 2000-2001 $85 Apr M ay Jun $80 Jul Aug Sep Oct $74 Nov Dec Jan Feb $68 M ar A M J J A S O N D J F M $77.66 79.30 77.47 74.93 78.30 79.07 80.59 81.51 76.33 90.00 78.53 79.89 $81.76 77.88 79.51 78.61 79.46 81.68 79.31 79.14 76.32 83.74 81.24 81.21 Deflated Average Hotel Room Rates $58 1999-2000 2000-2001 $54 Monthly Data Seasonally Adjusted DOLLARS Month 1999-2000 2000-2001 $50 Apr M ay $47.07 47.71 $47.79 45.49 Jun 46.61 46.42 $47 Jul 45.08 45.62 Aug 46.97 46.04 Sep 47.32 47.27 Oct 48.00 45.66 $43 Nov 48.46 45.49 Dec 45.35 43.83 Jan Feb $40 M ar A M J J A S O N D J F M 53.47 46.55 47.08 48.12 46.40 46.20 14 Metro Atlanta Economic Indicators / May 2001 Georgia Department of Labor Average 30-Year Fixed Mortgage Rate* 9.37 1999-2000 2000-2001 8.72 PERCENTAGES 8.06 7.41 6.76 6.10 A M J J A S O Average 15-Year Fixed Mortgage Rate* 9.10 1999-2000 2000-2001 Monthly Data Not Seasonally Adjusted Month Apr M ay Jun Jul Aug Sep Oct Nov Dec Jan Feb M ar N D J F M * Does not include points 1999-2000 7.00 % 6.89 7.09 7.56 7.68 8.03 7.90 7.86 7.72 8.04 8.19 8.37 2000-2001 8.28 % 8.12 8.55 8.26 8.16 8.04 7.95 7.81 7.79 7.45 7.17 7.11 8.40 PERCENTAGES 7.70 7.01 6.31 5.61 A M J J A S O N D J F M * Does not include points Average One-Year Adjustable Mortgage Rate* 8.24 1999-2000 2000-2001 Monthly Data Not Seasonally Adjusted Month 1999-2000 2000-2001 Apr 6.58 % 7.87 % M ay 6.47 7.78 Jun 6.69 8.27 Jul 7.17 8.01 Aug 7.23 7.87 Sep 7.55 7.78 Oct 7.48 7.63 Nov 7.45 7.48 Dec 7.35 7.45 Jan 7.65 7.09 Feb 7.78 6.74 M ar 7.96 6.62 7.50 Monthly Data Not Seasonally Adjusted PERCENTAGES Month 1999-2000 2000-2001 6.76 Apr 5.44 % 6.90 % M ay 5.52 6.82 Jun 5.59 6.64 6.03 Jul 5.87 7.22 Aug 5.98 7.26 Sep 5.73 7.35 Oct 6.30 7.34 5.29 Nov 6.36 7.14 Dec 6.30 7.06 Jan 6.51 6.92 Feb 6.72 6.50 4.55 M ar A M J J A S O N D J F M 6.93 5.83 * Does not include points Georgia Department of Labor Metro Atlanta Economic Indicators / May 2001 15 To receive a free subscription to this publication, please complete and mail this form Mail to: If you prefer, you may e-mail your request to 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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