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 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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