Metro Atlanta economic indicators, monthly report, Vol. 4, no. 5 (July 2001)

AT L A N TA

METROPOLITAN
Economic

Indicators

A Monthly Report of Atlanta Labor Market and Economic Trends

July 2001

Volume 4, Issue 5

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 5 July 2001

May 2001 Data Cover art: Mable House, Mableton, 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 / July 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 / July 2001

Georgia Department of Labor

Consumer Price Index for the South

1978 1979 1980 1981 1982 1983
1984

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

1985

105.7

106.4

107.1

107.6

108.3

108.7

3.2

1986

108.9

107.9

108.7

108.7

109.4

109.7

0.9

1987

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

1988

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

1989

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

1990

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

1991

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

1992

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

1993

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

1994

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

1995

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

1996

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

1997

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

1998

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

1999

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

2000

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

2001

169.3

170.2 170.6 171.4 171.7

Source: U.S. Bureau of Labor Statistics

CPI for the South increased 0.2 percent in May

Urban Consumers (CPI-U) for the South, increased 0.2 percent, not seasonally adjusted, to a level of 171.7 (1982-84= 100), for the month of May, 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 3.0 percent.
Over the month, higher costs for transportation were the primary reason for the increase in the index. Energy costs increased 3.7 percent in May, reflecting an increase in the costs for motor fuels. Excluding food and energy, the CPI-U South decreased 0.2 percent in May.
Over the past 12 months, the CPI-U South has increased 3.0 percent compared to a 3.2 percent rise over the 12-month period ending in May 2000. Almost half of the increase over the past year was due to higher housing costs, as

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%

shelter costs rose 2.9 percent, and costs for household fuel and utilities increased 12.3 percent. Increases in costs for transportation also contributed to the increase over the year, up 3.2 percent since a year ago.

Among the major index groups in May, the food and beverages index advanced 0.1 percent, after increasing 0.2 percent in April. Housing costs increased 0.2 percent in May, after recording no change in April. Costs for shelter increased 0.2 percent, reflecting a 0.3 percent increase in costs for both rent of primary residence and owners' equivalent rent of primary residence. Costs for household fuels and utilities increased 0.9 percent, reflecting increasing costs for electricity. The index for apparel decreased 2.1 percent over the month. The transportation index increased 1.4 percent over the month, primarily due to an increase of 6.8 percent in the gasoline index.
The long-term trend of rising medical costs continued in May. The index rose 0.1 percent in May, after rising 0.2 percent in April and 0.5 percent in March. The increase was due to a 0.1 percent increase in the index for medical care services.

Georgia Department of Labor

Metro Atlanta Economic Indicators / July 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 index of economic indicators show mixed results

The Georgia Department of Labor's Index of Leading Economic Indicators for the Atlanta metropolitan area increased 0.1 percent, rising from a revised 148.3 in April to 149.5 in May, after seasonal adjustment. The recent stability in Atlanta's leading index sets the stage for modest but steady growth through the remainder of the year.
The construction sector displayed mixed results for the metropolitan area. During the month of May the value of nonresidential construction projects dropped 35.5 percent, lowering the value of the sector to $295.3 million. As demand softens for office buildings and apartments, many developers are postponing building projects until demand picks up. However, residential construction managed to post a 9.9 percent increase over the previous month.

Recent 12 Months
Leading Coincident
149.7

146.9

144.0

141.1 138.3

1987-88 = 100 J J ASOND J FMAM

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.
Initial unemployment claims increased 7.4 percent in May as continued claims

decreased 8.6 percent. The unemployment rate for the metro area remained at 2.9 percent, unchanged from the previous month.
The Index of Coincident Indicators declined 0.1 percent in May, to a level of 141.9 from a revised 142.6, after seasonal adjustment. The nonagricultural employment sector moved lower during the month, decreasing 0.05 percent. Seven of the eleven nonagricultural employment sectors decreased in May, which contributed in moving the index lower. Wholesale and construction employment decreased 0.5 percent during the month. Retail employment rose 0.9 percent in May from April, extending the increase for the fourth consecutive month. Manufacturing employment remained flat during the month of May as earnings edged upward 3.7 percent and hours worked increased 3.0 percent.

4 Metro Atlanta Economic Indicators / July 2001

Georgia Department of Labor

Data Summary
May 2001 Data

Metro Atlanta Economic Indicators

May 2001 Apr 2001

May 2000

Percent Change Apr 2001
to May 2001

Percent Change May 2000
to May 2001

Nonagricultural Employment

2,231,782

Wholesale Employment

185,081

Retail Employment

410,171

Services Employment

689,743

Manufacturing Employment

219,079

Government Employment

273,081

Construction Employment

117,955

Transp. & Pub. Utilities Employment

196,836

Finance, Insurance & Realty Employment

139,452

Business Services Employment

224,927

Health Services Employment

128,479

Social Services Employment

30,859

Manufacturing Workweek

39.7

Manufacturing Earnings

$569.47

Deflated Manufacturing Earnings

$320.46

Initial Unemployment Claims

12,049

Continued Unemployment Claims

102,500

Total Unemployment Rate (not seasonally adjusted) 2.9%

Insured Unemployment Rate

1.14%

MARTA Passengers

6,578,000

Cobb County Transit Passengers

170,072

Residential Construction (household units)

5,884

Nonresidential Construction (value)

$295,318,000

Deflated Nonresidential Construction

$166,189

Hotel Occupancy

63.8%

Average Hotel Room Rates

$81.32

Deflated Average Hotel Room Rate

$45.76

Average 30-Year Fixed Mortgage Rate

7.22%

Average 15-Year Fixed Mortgage Rate

6.70%

Average One-Year Adjustable Mortgage Rate

5.79%

Georgia Department of Labor

2,232,955 185,920 407,984 690,425 219,049 272,463 118,571 197,014 140,346 226,107 129,080 31,074 38.6 $548.99 $310.34 11,221 112,110 2.9% 1.03%
6,284,000 149,578 5,355
$457,811,000 $258,796 62.1% $78.26 $44.24 7.11% 6.62% 5.83%

2,196,843 177,469 394,837 679,445 221,476 270,120 119,517 191,002 141,935 234,044 125,013 30,671 40.0 $543.21 $316.74 6,848 64,530 3.0% 0.64%
6,671,000 196,736 5,789
$368,432,000 $214,829 64.5% $77.80 $45.37 8.55% 8.27% 7.09%

-0.05 -0.45 0.54 -0.10 0.01 0.23 -0.52 -0.09 -0.64 -0.52 -0.47 -0.69 3.03 3.73 3.26 7.38 -8.57
4.68 13.70 9.87 -35.49 -35.78 3.91 3.44 -

1.59 4.29 3.88 1.52 -1.08 1.10 -1.31 3.05 -1.75 -3.90 2.77 0.61 -0.75 4.83 1.18 75.94 58.84
-1.39 -13.55 1.65 -19.84 -22.64 4.53 0.88 -

Metro Atlanta Economic Indicators / July 2001 5

Nonagricultural Employment
2.28 1999-2000 2000-2001

MILLIONS

2.24

Monthly Data

Seasonally Adjusted

Month 1999-2000 2000-2001 2.20

Jun

2,151,279

2,203,692

Jul

2,135,433

2,203,998

Aug

2,150,307

2,207,756

2.17

Sep

2,161,010

2,210,318

Oct

2,165,110

2,214,096

Nov

2,169,831

2,217,730

Dec

2,181,076

2,219,937

2.13

Jan

2,177,178

2,229,649

Feb

2,180,802

2,223,747

M ar

2,189,717

2,224,161

Apr

2,187,603

2,232,955

2.09

M ay

J

J

A

S

O

N

D

J

F

M

A

M

2,196,843

2,231,782

Wholesale Employment

190.5

1999-2000 2000-2001

THOUSANDS

186.3

Monthly Data
Seasonally Adjusted

182.0

Month 1999-2000 2000-2001

Jun

Jul

Aug

177.8

Sep

Oct

Nov

Dec

173.5

Jan

Feb

M ar

Apr

169.3

M ay

J

J

A

S

O

N

D

J

F

M

A

M

175,287 174,224 174,799 174,397 174,325 173,981 174,925 175,967 176,547 177,023 177,091 177,469

177,948 178,901 178,573 179,126 178,964 178,999 179,803 180,060 180,530 181,774 185,920 185,081

Retail Employment

423.4

1999-2000 2000-2001

412.9

Monthly Data
Seasonally Adjusted

THOUSANDS

402.4

Month 1999-2000 2000-2001

Jun

Jul

Aug

391.9

Sep

Oct

Nov

Dec

381.4

Jan

Feb

M ar

Apr

370.9

M ay

J

J

A

S

O

N

D

J

F

M

A

M

383,693 383,563 385,740 386,061 389,581 392,593 396,156 388,590 390,012 392,847 393,161 394,837

395,986 396,628 395,827 394,649 399,385 402,555 404,998 406,387 403,654 405,595 407,984 410,171

6 Metro Atlanta Economic Indicators / July 2001

Georgia Department of Labor

Services Employment

717.6

1999-2000

2000-2001

701.2

Monthly Data
Seasonally Adjusted

THOUSANDS

684.8

Month 1999-2000 2000-2001

Jun

663,219

685,415

Jul

653,275

685,642

Aug

658,211

683,187

668.3

Sep

662,947

685,468

Oct

665,046

686,496

Nov

667,258

688,714

Dec

670,863

684,848

651.9

Jan

680,244

696,587

Feb

680,489

690,355

M ar

681,174

688,743

Apr

678,175

690,425

635.5

M ay

J

J

A

S

O

N

D

J

F

M

A

M

679,445

689,743

Manufacturing Employment

233.6

1999-2000 2000-2001

THOUSANDS

229.4

Monthly Data
Seasonally Adjusted

225.2

Month 1999-2000 2000-2001

Jun

Jul

Aug

221.1

Sep

Oct

Nov

Dec

216.9

Jan

Feb

M ar

Apr

212.7

M ay

J

J

A

S

O

N

D

J

F

M

A

M

227,441 227,609 226,817 227,338 226,472 226,624 227,585 223,665 223,032 223,415 222,160 221,476

221,564 222,468 223,859 223,287 222,052 221,192 221,188 217,659 219,125 219,237 219,049 219,079

Government Employment

281.6

1999-2000 2000-2001

THOUSANDS

274.7

Monthly Data
Seasonally Adjusted

267.8

Month 1999-2000 2000-2001

Jun

261,220

265,272

Jul

255,290

260,779

Aug

257,531

262,447

260.9

Sep

264,267

267,327

Oct

262,179

268,992

Nov

261,642

268,548

Dec

262,353

269,478

254.0

Jan

261,483

268,056

Feb

263,084

270,653

M ar

263,951

270,687

Apr

265,024

272,463

247.2

M ay

J

J

A

S

O

N

D

J

F

M

A

M

270,120

273,081

Georgia Department of Labor

Metro Atlanta Economic Indicators / July 2001 7

Construction Employment

127.5

1999-2000

2000-2001

THOUSANDS

124.0

Monthly Data
Seasonally Adjusted

Month 1999-2000 2000-2001

120.5

Jun

114,276

120,611

Jul

114,755

122,405

Aug

115,957

123,257

117.0

Sep

116,373

121,707

Oct

115,689

119,390

Nov

116,242

119,024

Dec

115,945

119,007

113.5

Jan

116,353

122,963

Feb

117,198

121,916

M ar

119,330

119,714

Apr

118,994

118,571

110.0

M ay

J

J

A

S

O

N

D

J

F

M

A

M

119,517

117,955

Transportation and Public Utilities Employment

205.1

1999-2000

2000-2001

THOUSANDS

199.6

Monthly Data
Seasonally Adjusted

194.1

Month 1999-2000 2000-2001

Jun

Jul

Aug

188.7

Sep

Oct

Nov

Dec

183.2

Jan

Feb

M ar

Apr

177.7

M ay

J

J

A

S

O

N

D

J

F

M

A

M

184,631 186,698 189,145 189,029 190,166 190,997 191,944 191,495 191,823 192,932 190,479 191,002

191,590 191,813 193,792 194,246 194,161 194,987 195,665 196,061 197,930 198,164 197,014 196,836

Finance, Insurance and Realty Employment

145.3

1999-2000

2000-2001

143.2

Monthly Data
Seasonally Adjusted

THOUSANDS

141.1

Month 1999-2000

2000-2001

Jun

138,283

142,025

Jul

137,477

142,776

139.0

Aug

138,130

142,828

Sep

137,910

142,353

Oct

138,142

141,470

Nov

138,577

141,406

136.9

Dec

138,523

142,389

Jan

138,348

141,110

Feb

138,191

140,125

M ar

138,065

139,794

Apr

141,521

140,346

134.8

M ay

J

J

A

S

O

N

D

J

F

M

A

M

141,935

139,452

8 Metro Atlanta Economic Indicators / July 2001

Georgia Department of Labor

Business Services Employment

245.6

1999-2000

2000-2001

239.3

Monthly Data
Seasonally Adjusted

THOUSANDS

233.0

Month 1999-2000 2000-2001

Jun

225,784

235,722

Jul

221,322

236,804

Aug

223,226

236,422

226.8

Sep

225,776

236,526

Oct

227,358

236,141

Nov

229,291

234,311

Dec

229,053

232,054

220.5

Jan

237,852

237,880

Feb

236,712

230,679

M ar

235,287

227,689

Apr

230,304

226,107

214.2

M ay

J

J

A

S

O

N

D

J

F

M

A

M

234,044

224,927

Health Services Employment

133.1

1999-2000

2000-2001

THOUSANDS

130.4

Monthly Data
Seasonally Adjusted

Month 1999-2000 2000-2001

127.7

Jun

123,004

125,540

Jul

123,693

126,357

Aug

124,488

126,468

125.0

Sep

124,929

127,386

Oct

124,484

126,997

Nov

125,130

128,272

Dec

125,796

127,609

122.3

Jan

125,467

129,051

Feb

125,263

129,412

M ar

125,433

129,375

Apr

125,595

129,080

119.6

M ay

J

J

A

S

O

N

D

J

F

M

A

M

125,013

128,479

Social Services Employment
32.8 1999-2000 2000-2001

THOUSANDS

31.8

Monthly Data

Seasonally Adjusted

Month 1999-2000 2000-2001 30.8

Jun

30,274

30,567

Jul

29,446

30,492

Aug

29,694

30,625

29.8

Sep

29,494

30,500

Oct

30,310

30,485

Nov

30,528

30,524

Dec

30,727

30,448

28.8

Jan

31,018

30,436

Feb

31,167

30,986

M ar

31,473

30,683

Apr

30,567

31,074

27.8

M ay

J

J

A

S

O

N

D

J

F

M

A

M

30,671

30,859

Georgia Department of Labor

Metro Atlanta Economic Indicators / July 2001

9

Manufacturing Workweek

42.5

1999-2000

2000-2001

HOURS

41.5

Monthly Data

Seasonally Adjusted

Month 1999-2000 2000-2001

40.5 Jun

Jul

Aug

39.5

Sep

Oct

Nov

Dec

38.5

Jan

Feb

M ar

Apr

37.5

M ay

J

J

A

S

O

N

D

J

F

M

A

M

41.0

40.1

41.2

39.6

40.7

39.9

40.9

38.7

40.1

39.8

40.6

39.0

40.3

38.7

40.5

39.2

40.2

39.0

40.5

38.9

41.4

38.6

40.0

39.7

Manufacturing Earnings

$590

1999-2000

2000-2001

DOLLARS

$575

Monthly Data
Seasonally Adjusted

$560

Month 1999-2000

2000-2001

Jun

$546.98

$548.05

Jul

546.64

541.56

Aug

540.36

551.20

$545

Sep

556.24

539.19

Oct

534.23

559.95

Nov

550.92

553.62

Dec

554.69

553.32

$530

Jan

551.00

552.94

Feb

544.27

555.30

M ar

553.14

553.29

Apr

571.94

548.99

$515

M ay

543.21

569.47

J

J

A

S

O

N

D

J

F

M

A

M

Deflated Manufacturing Earnings

$345

1999-2000 2000-2001

DOLLARS

$336

Monthly Data
Seasonally Adjusted

$327

Month 1999-2000 2000-2001

Jun

$329.11

$317.16

Jul

327.92

313.40

Aug

323.38

319.35

$317

Sep

331.29

310.41

Oct

317.61

321.81

Nov

327.34

317.99

Dec

329.59

318.00

$308

Jan

326.42

315.79

Feb

320.54

315.87

M ar

323.09

314.01

Apr

333.88

310.34

$299

M ay

J

J

A

S

O

N

D

J

F

M

A

M

316.74

320.46

10 Metro Atlanta Economic Indicators / July 2001

Georgia Department of Labor

Initial Unemployment Claims
15.0 1999-2000 2000-2001

THOUSANDS

12.7

Monthly Data

Seasonally Adjusted

Month 1999-2000 2000-2001

10.3

Jun

5,951

7,454

Jul

6,879

6,851

Aug

6,383

8,054

7.9

Sep

6,245

7,050

Oct

6,372

7,531

Nov

6,283

7,694

Dec

6,349

8,018

5.5

Jan

7,041

11,771

Feb

7,361

10,389

M ar

6,019

10,071

Apr

5,755

11,221

3.2

M ay

J

J

A

S

O

N

D

J

F

M

A

M

6,848

12,049

Continued Unemployment Claims

140.2

1999-2000 2000-2001

THOUSANDS

116.1

Monthly Data
Seasonally Adjusted

Month 1999-2000 2000-2001 92.1

Jun

56,237

51,960

Jul

46,519

60,800

Aug

63,232

60,917

68.0

Sep

51,275

59,395

Oct

51,991

71,422

Nov

62,161

60,067

Dec

52,107

63,229

44.0

Jan

64,099

84,799

Feb

55,856

79,998

M ar

51,222

76,174

Apr

54,121

112,110

19.9

M ay

J

J

A

S

O

N

D

J

F

M

A

M

64,530

102,500

Total Unemployment Rate
4.1 1999-2000 2000-2001

PERCENTAGES

3.7

Monthly Data

Not Seasonally Adjusted

Month 1999-2000 2000-2001

3.2

Jun

3.6 %

3.6 %

Jul

3.5

3.3

Aug

3.2

3.1

2.8

Sep

3.1

3.1

Oct

3.1

2.9

Nov

2.7

2.5

Dec

2.6

2.4

2.3

Jan

2.8

2.4

Feb

3.1

2.7

Mar

3.1

3.1

Apr

2.8

2.9

1.9

May

J

J

A

S

O

N

D

J

F

M

A

M

3.0

2.9

Georgia Department of Labor

Metro Atlanta Economic Indicators / July 2001 11

iInsured Unemployment Rate

1.35

1999-2000 2000-2001

1.16

Monthly Data

Seasonally Adjusted

PERCENTAGES

Month 1999-2000 2000-2001 0.97

Jun

0.61 %

0.65 %

Jul

0.63

0.66

Aug

0.64

0.69

0.77

Sep

0.63

0.69

Oct

0.64

0.67

Nov

0.63

0.69

Dec

0.64

0.77

0.58

Jan

0.70

0.83

Feb

0.64

0.86

M ar

0.63

0.92

Apr

0.63

1.03

0.39

M ay

J

J

A

S

O

N

D

J

F

M

A

M

0.64

1.14

MMARTA Passengers

7.5 1999-2000 2000-2001

MILLIONS

7.1

Monthly Data

Seasonally Adjusted

Month 1999-2000 2000-2001 6.7

Jun

6,194,000

7,068,000

Jul

6,125,000

5,995,000

Aug

6,270,000

6,648,000

6.3

Sep

6,414,000

6,490,000

Oct

6,419,000

6,503,000

Nov

6,671,000

6,459,000

Dec

6,542,000

6,194,000

5.9

Jan

6,476,000

6,799,000

Feb

6,589,000

6,221,000

M ar

6,703,000

6,433,000

Apr

6,263,000

6,284,000

5.5

M ay

J

J

A

S

O

N

D

J

F

M

A

M

6,671,000

6,578,000

Cobb Community Transit Passengers

249.6

1999-2000

2000-2001

205.5

Monthly Data
Seasonally Adjusted

THOUSANDS

161.4

Month 1999-2000 2000-2001

Jun

122,062

126,596

Jul

118,552

126,250

Aug

141,427

137,760

117.2

Sep

135,838

132,960

Oct

126,490

135,407

Nov

120,472

135,877

Dec

140,513

124,577

73.1

Jan

89,020

137,730

Feb

136,507

129,505

M ar

140,823

176,786

Apr

174,709

149,578

29.0

M ay

J

J

A

S

O

N

D

J

F

M

A

M

196,736

170,072

12 Metro Atlanta Economic Indicators / July 2001

Georgia Department of Labor

Residential Construction
7.5 1999-2000 2000-2001

6.6

Monthly Data

Seasonally Adjusted

HOUSEHOLD UNITS ( THOUSANDS )

Month 1999-2000 2000-2001

5.7

Jun

5,920

5,453

Jul

4,991

5,416

Aug

4,812

5,074

4.8

Sep

4,391

4,936

Oct

4,243

4,169

Nov

6,242

5,153

Dec

4,618

4,569

3.9

Jan

5,639

6,236

Feb

5,305

6,386

M ar

5,801

5,197

Apr

6,037

5,355

3.1

M ay

J

J

A

S

O

N

D

J

F

M

A

M

5,789

5,884

Nonresidential Construction

$710

1999-2000 2000-2001

MILLIONS

$587

Monthly Data
Seasonally Adjusted

$464

Month 1999-2000 2000-2001

Jun

$357,596,000 $546,766,000

Jul

370,283,000

277,576,000

Aug

405,393,000

270,611,000

$341

Sep

282,640,000

411,800,000

Oct

262,985,000

359,115,000

Nov

272,326,000

253,203,000

Dec

448,218,000

313,388,000

$218

Jan

306,194,000

348,961,000

Feb

249,729,000

329,048,000

M ar

341,706,000

309,722,000

Apr

559,751,000

457,811,000

$96

M ay

J

J

A

S

O

N

D

J

F

M

A

M

368,432,000

295,318,000

Deflated Nonresidential Construction

$410

1999-2000 2000-2001

$341

Monthly Data
Seasonally Adjusted

MILLIONS

$271

Month 1999-2000 2000-2001

Jun

$215,160,000 $316,416,000

Jul

222,125,000

160,634,000

Aug

242,605,000

156,785,000

$202

Sep

168,338,000

237,075,000

Oct

156,353,000

206,388,000

Nov

161,810,000

145,435,000

Dec

266,321,000

180,108,000

$132

Jan

181,395,000

199,292,000

Feb

147,072,000

187,172,000

M ar

199,595,000

175,779,000

Apr

326,766,000

258,796,000

$63

M ay

J

J

A

S

O

N

D

J

F

M

A

M

214,829,000

166,189,000

Georgia Department of Labor

Metro Atlanta Economic Indicators / July 2001

13

Hotel Occupancy
71.4 1999-2000

2000-2001

68.5

Monthly Data

Seasonally Adjusted

PERCENTAGES

Month 1999-2000 2000-2001

65.5

Jun

66.03 %

67.51 %

Jul

67.14

68.05

Aug

64.31

67.15

62.6

Sep

67.10

67.87

Oct

67.27

64.71

Nov

65.84

65.64

Dec

60.08

61.87

59.7

Jan

66.59

65.81

Feb

65.04

64.80

M ar

64.95

67.35

Apr

63.05

62.14

56.7

M ay

J

J

A

S

O

N

D

J

F

M

A

M

64.49

63.76

Average Hotel Room Rates
$97 1999-2000 2000-2001

DOLLARS

$91

Monthly Data

Seasonally Adjusted

Month 1999-2000 2000-2001 $85

Jun

Jul

Aug

$80

Sep

Oct

Nov

Dec

$74

Jan

Feb

M ar

Apr

$68

M ay

J

J

A

S

O

N

D

J

F

M

A

M

$77.42 74.87 78.25 78.97 80.49 81.39 76.65 90.00 78.99 79.76 81.68 77.80

$79.44 78.54 79.40 81.58 79.20 79.02 76.69 83.74 81.77 81.08 78.26 81.32

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

$54

Monthly Data

Seasonally Adjusted

DOLLARS

Month 1999-2000 2000-2001 $50

Jun

$46.58

$45.97

Jul

44.91

45.45

Aug

46.83

46.00

$47

Sep

47.03

46.96

Oct

47.85

45.52

Nov

48.36

45.39

Dec

45.54

44.07

$43

Jan

53.32

47.82

Feb

46.52

46.51

M ar

Apr

$40

M ay

J

J

A

S

O

N

D

J

F

M

A

M

46.59 47.68 45.37

46.02 44.24 45.76

14 Metro Atlanta Economic Indicators / July 2001

Georgia Department of Labor

Average 30-Year Fixed Mortgage Rate*
9.25 1999-2000 2000-2001

8.67

PERCENTAGES

8.09

7.51

6.93

6.35

J

J

A

S

O

N

D

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

Monthly Data
Not Seasonally Adjusted

Month

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

J

F

M

A

M

* Does not include points

1999-2000
7.56 % 7.68 8.03 7.90 7.86 7.72 8.04 8.19 8.37 8.28 8.12 8.55

2000-2001
8.26 % 8.16 8.04 7.95 7.81 7.79 7.45 7.17 7.13 7.02 7.11 7.22

8.43

PERCENTAGES

7.76

7.09

6.42

5.75

J

J

A

S

O

N

D

J

F

M

A

M

* Does not include points

Average One-Year Adjustable Mortgage Rate*

8.13

1999-2000

2000-2001

Monthly Data
Not Seasonally Adjusted
Month 1999-2000

2000-2001

Jun

7.17 %

8.01 %

Jul

7.23

7.87

Aug

7.55

7.78

Sep

7.48

7.63

Oct

7.45

7.48

Nov

7.35

7.45

Dec

7.65

7.09

Jan

7.78

6.74

Feb

7.96

6.73

M ar

7.87

6.59

Apr

7.78

6.62

M ay

8.27

6.70

7.50

Monthly Data

Not Seasonally Adjusted

PERCENTAGES

Month

1999-2000 2000-2001

6.87

Jun

5.87 %

7.22 %

Jul

5.98

7.26

Aug

6.26

7.35

6.24

Sep

6.30

7.34

Oct

6.36

7.14

Nov

6.30

7.06

Dec

6.51

6.92

5.61

Jan

6.72

6.50

Feb

6.93

6.22

M ar

6.90

6.00

Apr

6.82

5.83

4.98

M ay

J

J

A

S

O

N

D

J

F

M

A

M

7.09

5.79

* Does not include points

Georgia Department of Labor

Metro Atlanta Economic Indicators / July 2001 15

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