Metro Atlanta economic indicators, monthly report, Vol. 4, no. 6 (Aug. 2001)

AT L A N TA

METROPOLITAN
Economic

Indicators

A Monthly Report of Atlanta Labor Market and Economic Trends

)KCKIJ

Volume 4, Issue 6

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 6 August 2001

June 2001 Data
Cover art: Hardin Family Farmhouse, Prehistoric Soapstone Quarry, Dekalb County, GA 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 / August 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 / August 2001

Georgia Department of Labor

Consumer Price Index for Atlanta

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

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

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% 3.5%

119.1 124.9 130.8 135.5 138.6

121.7 127.3 132.6 136.2 138.5

3.6% 4.6% 4.2% 2.7% 1.7%

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

4.5% 1.4% 3.3% 3.8% 1.5% 1.4%

161.9 167.4 175.3

164.0 169.8 176.6

164.8 170.9 177.8

165.9 172.1

166.5 171.9

167.0 3.3% 171.9 2.9%

Source: U.S. Bureau of Labor Statistics

Atlanta's CPI increases 0.7 percent

The Consumer Price Index for all Urban Consumers (CPI-U) for Atlanta increased 0.7 percent over the two months ended in June, not seasonally adjusted, to a level of 177.8 (198284=100), as reported by the Bureau of Labor Statistics of the U.S. Department of Labor. For the 12-month period ended in June, the CPI-U for Atlanta increased 3.8 percent.
Over the two months, the all items index reflected higher costs for housing and transportation, offsetting lower costs for apparel and recreation. The two-month increase was the same percentage increase recorded in the March-April period and similar to the 0.8 percent increase recorded in the May-June 2000 pricing period. Over the first six months of this year, the index has risen 3.4 percent compared to a 2.6 percent increase for the same period last year.

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%

Among the special indexes compiled, energy costs reversed their previous two-month decline and advanced 10.1 percent as seasonal increases in electricity costs and higher gasoline costs offset lower costs for utility

natural gas service. Excluding food and energy, the CPI-U for Atlanta has declined 0.1 percent since April 2001.
Housing costs advanced 1.9 percent during May and June, reflecting seasonal increases in shelter and electricity costs. Shelter costs rose 0.5 percent, approximately the average increase recorded for this index each June over the past three years. The fuels and utilities index rose 10.5 percent, which was less than its average at this time of year.
Transportation costs rose 1.4 percent over two months due to higher gasoline costs. The gasoline index increased 6.6 percent as lower costs in May were more than offset by higher gasoline costs in June. Despite the most recent increases, gasoline prices have decreased 0.6 percent over the past year, compared to a 48.0 percent rise recorded for the 12 months ending in June 2000.

Georgia Department of Labor

Metro Atlanta Economic Indicators / August 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

94

95

96

97

98

99

00

01

Atlanta's Leading Economic Indicator moves higher

The Georgia Department of Labor's Index of Leading Economic Indicators for the Atlanta metropolitan area increased 1.2 percent in June, rising from a revised 149.4 in May to 151.3 in June, after seasonal adjustment. This is the third consecutive monthly advance for the leading indicator this year.
The largest contributor to the leading indicator was residential construction, which increased 10.1 percent to 6,482 household units from 5,884 the previous month. The value of nonresidential construction declined 1.57 percent, after posting a double digit decrease the previous month. Initial unemployment claims dropped 10.3 percent in June, after reaching a two year high in May. Manufacturing displayed some improvement as hours worked and weekly earnings increased 0.7 percent and 1.5 percent, respectively.

Recent 12 Months
154.9
Leading , Coincident
151.4

148.0
,

,

,

144.5

,

,

141.1

,

,

,

,

,

,

,

1987-88 = 100

137.6

J

A

S

O

N

D

J

F

M

A

M

J

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

economic conditions.

The Index of Coincident Indicators declined 0.3 percent during the month of June, to a level of 141.7 from a revised 142.2, after seasonal adjustment.
Nonagricultural employment increased 0.2 percent in June, after contracting 0.05 in May. The employment sector was led by health services, which increased 1.02 percent during the month. Manufacturing employment declined 0.32 percent, down 1.35 percent from June's 2000 level. Retail employment decelerated 0.17 percent, after increasing 0.54 in May. Unemployment for the Atlanta metropolitan area increased five-tenths of a percent during the month of June, which was one-tenth of a percent below June's 2000 rate.
Continued growth in the residential construction sector, lower interest rates and tax rebates should add some needed growth to the economy during the second half of the year.

4 Metro Atlanta Economic Indicators / August 2001

Georgia Department of Labor

Data Summary
June 2001 Data

Metro Atlanta Economic Indicators

June 2001 May 2001

June 2000

Percent Percent Change Change

May 2001 June 2000

to

to

June 2001 June 2001

Nonagricultural Employment

2,237,894

Wholesale Employment

184,612

Retail Employment

411,087

Services Employment

692,639

Manufacturing Employment

218,575

Government Employment

270,666

Construction Employment

118,139

Transp. & Pub. Utilities Employment

197,823

Finance, Insurance & Realty Employment

140,649

Business Services Employment

222,041

Health Services Employment

130,191

Social Services Employment

31,062

Manufacturing Workweek

40.0

Manufacturing Earnings

$578.16

Deflated Manufacturing Earnings

$324.81

Initial Unemployment Claims

10,804

Continued Unemployment Claims

100,899

Total Unemployment Rate

3.5%

Insured Unemployment Rate (not seasonally adjusted) 1.24%

MARTA Passengers

6,539,000

Cobb County Transit Passengers

179,771

Residential Construction (household units)

6,482

Nonresidential Construction (value)

$290,681,000

Deflated Nonresidential Construction

$163,304

Hotel Occupancy

65.0%

Average Hotel Room Rates

$82.01

Deflated Average Hotel Room Rate

$46.07

Average 30-Year Fixed Mortgage Rate

7.22%

Average 15-Year Fixed Mortgage Rate

6.77%

Average One-Year Adjustable Mortgage Rate

5.71%

Georgia Department of Labor

2,233,780 184,781 411,778 688,247 219,279 273,977 118,355 197,337 140,052 222,922 128,878 30,859 39.7 $569.47 $320.46 12,049 102,500 3.0% 1.14%
6,578,000 170,072 5,884
$295,318,000 $166,189 63.8% $81.32 $45.76 7.22% 6.70% 5.79%

2,203,692 177,948 395,986 685,415 221,564 265,272 120,611 191,590 142,025 235,722 125,540 30,567 40.1 $548.05 $317.16 7,454 51,960 3.6% 0.65%
7,068,000 126,596 5,453
$546,766,000 $316,416 67.5% $79.44 $45.97 8.26% 8.01% 7.22%

0.18 -0.09 -0.17 0.64 -0.32 -1.21 -0.18 0.25 0.43 -0.39 1.02 0.66 0.67 1.53 1.36 -10.33 -1.56
-0.59 5.70 10.16 -1.57 -1.74 0.84 0.67 -

1.55 3.74 3.81 1.05 -1.35 2.03 -2.05 3.25 -0.97 -5.80 3.70 1.62 -0.26 5.50 2.41 44.94 94.18
-7.48 42.00 18.88 -46.84 -48.39 3.23 0.21 -

Metro Atlanta Economic Indicators / August 2001 5

Nonagricultural Employment
2.28 1999-2000 2000-2001

MILLIONS

2.24

Monthly Data

Seasonally Adjusted

Month 1999-2000 2000-2001 2.20

Jul

2,135,433

2,203,998

Aug

2,150,307

2,207,756

Sep

2,161,010

2,210,318

2.17

Oct

2,165,110

2,214,096

Nov

2,169,831

2,217,730

Dec

2,181,076

2,219,937

Jan

2,177,178

2,229,649

2.13

Feb

2,180,802

2,223,747

M ar

2,189,717

2,224,161

Apr

2,187,603

2,232,955

M ay

2,196,843

2,233,780

2.09

June

J

A

S

O

N

D

J

F

M

A

M

J

2,203,692

2,237,894

Wholesale Employment

191.0

1999-2000 2000-2001

THOUSANDS

186.6

Monthly Data
Seasonally Adjusted

182.3

Month 1999-2000 2000-2001

Jul

Aug

Sep

178.0

Oct

Nov

Dec

Jan

173.6

Feb

M ar

Apr

M ay

169.3

June

J

A

S

O

N

D

J

F

M

A

M

J

174,224 174,799 174,397 174,325 173,981 174,925 175,967 176,547 177,023 177,091 177,469 177,948

178,901 178,573 179,126 178,964 178,999 179,803 180,060 180,530 181,774 185,920 184,781 184,612

Retail Employment

423.4

1999-2000 2000-2001

412.9

Monthly Data
Seasonally Adjusted

THOUSANDS

402.4

Month 1999-2000 2000-2001

Jul

Aug

Sep

391.9

Oct

Nov

Dec

Jan

381.4

Feb

M ar

Apr

M ay

370.9

June

J

A

S

O

N

D

J

F

M

A

M

J

383,563 385,740 386,061 389,581 392,593 396,156 388,590 390,012 392,847 393,161 394,837 395,986

396,628 395,827 394,649 399,385 402,555 404,998 406,387 403,654 405,595 407,984 411,778 411,087

6 Metro Atlanta Economic Indicators / August 2001

Georgia Department of Labor

Services Employment

717.6

1999-2000

2000-2001

700.5

Monthly Data
Seasonally Adjusted

THOUSANDS

683.5

Month 1999-2000 2000-2001

Jul

653,275

685,642

Aug

658,211

683,187

Sep

662,947

685,468

666.4

Oct

665,046

686,496

Nov

667,258

688,714

Dec

670,863

684,848

Jan

680,244

696,587

649.3

Feb

680,489

690,355

M ar

681,174

688,743

Apr

678,175

690,425

M ay

679,445

688,247

632.2

June

J

A

S

O

N

D

J

F

M

A

M

J

685,415

692,639

Manufacturing Employment

232.7

1999-2000 2000-2001

THOUSANDS

228.7

Monthly Data
Seasonally Adjusted

224.7

Month 1999-2000 2000-2001

Jul

Aug

Sep

220.7

Oct

Nov

Dec

Jan

216.7

Feb

M ar

Apr

M ay

212.7

June

J

A

S

O

N

D

J

F

M

A

M

J

227,609 226,817 227,338 226,472 226,624 227,585 223,665 223,032 223,415 222,160 221,476 221,564

222,468 223,859 223,287 222,052 221,192 221,188 217,659 219,125 219,237 219,049 219,279 218,575

Government Employment

281.6

1999-2000

2000-2001

THOUSANDS

274.7

Monthly Data
Seasonally Adjusted

Month 1999-2000 2000-2001

267.8

Jul

255,290

260,779

Aug

257,531

262,447

Sep

264,267

267,327

260.9

Oct

262,179

268,992

Nov

261,642

268,548

Dec

262,353

269,478

Jan

261,483

268,056

254.0

Feb

263,084

270,653

M ar

263,951

270,687

Apr

265,024

272,463

M ay

270,120

273,977

247.2

June

J

A

S

O

N

D

J

F

M

A

M

J

265,272

270,666

Georgia Department of Labor

Metro Atlanta Economic Indicators / August 2001 7

Construction Employment

127.5

1999-2000

2000-2001

124.1

THOUSANDS

120.8

117.4

114.1

110.7

J

A

S

O

N

D

J

F

M

Transportation and Public Utilities Employment

203.2

1999-2000

2000-2001

A

M

Monthly Data
Seasonally Adjusted

Month
Jul Aug Sep Oct Nov Dec Jan Feb M ar Apr M ay June
J

1999-2000
114,755 115,957 116,373 115,689 116,242 115,945 116,353 117,198 119,330 118,994 119,517 120,611

2000-2001
122,405 123,257 121,707 119,390 119,024 119,007 122,963 121,916 119,714 118,571 118,355 118,139

198.8

194.4

THOUSANDS

190.0

185.5

181.1

J

A

S

O

N

D

J

F

M

Finance, Insurance and Realty Employment

145.3

1999-2000

2000-2001

A

M

Monthly Data
Seasonally Adjusted

Month 1999-2000

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

186,698 189,145 189,029 190,166 190,997 191,944 191,495 191,823 192,932 190,479 191,002 191,590

2000-2001
191,813 193,792 194,246 194,161 194,987 195,665 196,061 197,930 198,164 197,014 197,337 197,823

143.3

Monthly Data
Seasonally Adjusted

THOUSANDS

141.2

Month 1999-2000

2000-2001

Jul

137,477

142,776

Aug

138,130

142,828

139.1

Sep

137,910

142,353

Oct

138,142

141,470

Nov

138,577

141,406

Dec

138,523

142,389

137.1

Jan

138,348

141,110

Feb

138,191

140,125

M ar

138,065

139,794

Apr M ay

141,521 141,935

140,346 140,052

135.0

June

J

A

S

O

N

D

J

F

M

A

M

J

142,025

140,649

8 Metro Atlanta Economic Indicators / August 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

Jul

221,322

236,804

Aug

223,226

236,422

Sep

225,776

236,526

226.8

Oct

227,358

236,141

Nov

229,291

234,311

Dec

229,053

232,054

Jan

237,852

237,880

220.5

Feb

236,712

230,679

M ar

235,287

227,689

Apr

230,304

226,107

M ay

234,044

222,922

214.2

June

J

A

S

O

N

D

J

F

M

A

M

J

235,722

222,041

Health Services Employment

133.1

1999-2000

2000-2001

THOUSANDS

130.6

Monthly Data
Seasonally Adjusted

Month 1999-2000 2000-2001

128.1

Jul

123,693

126,357

Aug

124,488

126,468

Sep

124,929

127,386

125.6

Oct

124,484

126,997

Nov

125,130

128,272

Dec

125,796

127,609

Jan

125,467

129,051

123.1

Feb

125,263

129,412

M ar

125,433

129,375

Apr

125,595

129,080

M ay

125,013

128,878

120.6

June

J

A

S

O

N

D

J

F

M

A

M

J

125,540

130,191

Social Services Employment
32.8 1999-2000 2000-2001

THOUSANDS

31.8

Monthly Data

Seasonally Adjusted

Month 1999-2000 2000-2001 30.8

Jul

29,446

30,492

Aug

29,694

30,625

Sep

29,494

30,500

29.8

Oct

30,310

30,485

Nov

30,528

30,524

Dec

30,727

30,448

Jan

31,018

30,436

28.8

Feb

31,167

30,986

M ar

31,473

30,683

Apr

30,567

31,074

M ay

30,671

30,859

27.8

June

J

A

S

O

N

D

J

F

M

A

M

J

30,567

31,062

Georgia Department of Labor

Metro Atlanta Economic Indicators /August 2001

9

Manufacturing Workweek

42.5

1999-2000

2000-2001

HOURS

41.5

Monthly Data

Seasonally Adjusted

Month 1999-2000 2000-2001

40.5

Jul

41.2

39.6

Aug

40.7

39.9

Sep

40.9

38.7

39.5

Oct

40.1

39.8

Nov

40.6

39.0

Dec

40.3

38.7

Jan

40.5

39.2

38.5

Feb

40.2

39.0

M ar

40.5

38.9

Apr

41.4

38.6

M ay

40.0

39.7

37.5

June

J

A

S

O

N

D

J

F

M

A

M

J

40.1

40.0

Manufacturing Earnings

$596

1999-2000 2000-2001

DOLLARS

$580

Monthly Data
Seasonally Adjusted

$564

Month 1999-2000

2000-2001

Jul

$546.64

$541.56

Aug

540.36

551.20

Sep

556.24

539.19

$548

Oct

534.23

559.95

Nov

550.92

553.62

Dec

554.69

553.32

Jan

551.00

552.94

$531

Feb

544.27

555.30

M ar

553.14

553.29

Apr

571.94

548.99

M ay

543.21

569.47

$515

June

J

A

S

O

N

D

J

F

M

A

M

J

548.05

578.16

Deflated Manufacturing Earnings

$345

1999-2000 2000-2001

DOLLARS

$336

Monthly Data
Seasonally Adjusted

$327

Month 1999-2000 2000-2001

Jul

$327.92

$313.40

Aug

323.38

319.35

Sep

331.29

310.41

$317

Oct

317.61

321.81

Nov

327.34

317.99

Dec

329.59

318.00

Jan

326.42

315.79

$308

Feb

320.54

315.87

M ar

323.09

314.01

Apr

333.88

310.34

M ay

316.74

320.46

$299

June

J

A

S

O

N

D

J

F

M

A

M

J

317.16

324.81

10 Metro Atlanta Economic Indicators / August 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

Jul

6,879

6,851

Aug

6,383

8,054

Sep

6,245

7,050

7.9

Oct

6,372

7,531

Nov

6,283

7,694

Dec

6,349

8,018

Jan

7,041

11,771

5.5

Feb

7,361

10,389

M ar

6,019

10,071

Apr

5,755

11,221

M ay

6,848

12,049

3.2

June

J

A

S

O

N

D

J

F

M

A

M

J

7,454

10,804

Continued Unemployment Claims

140.2

1999-2000 2000-2001

THOUSANDS

115.6

Monthly Data
Seasonally Adjusted

Month 1999-2000 2000-2001 91.1

Jul

46,519

60,800

Aug

63,232

60,917

Sep

51,275

59,395

66.6

Oct

51,991

71,422

Nov

62,161

60,067

Dec

52,107

63,229

Jan

64,099

84,799

42.0

Feb

55,856

79,998

M ar

51,222

76,174

Apr

54,121

112,110

M ay

64,530

102,500

17.5

June

J

A

S

O

N

D

J

F

M

A

M

J

51,960

100,899

Total Unemployment Rate
4.1 1999-2000 2000-2001

PERCENTAGES

3.7

Monthly Data

Not Seasonally Adjusted

Month 1999-2000 2000-2001

3.2

Jul

3.5 %

3.3 %

Aug

3.2

3.1

Sep

3.1

3.1

2.8

Oct

3.1

2.9

Nov

2.7

2.5

Dec

2.6

2.4

Jan

2.8

2.7

2.3

Feb

3.1

3.1

Mar

3.1

3.1

Apr

2.8

2.9

May

3.0

3.0

1.9

June

J

A

S

O

N

D

J

F

M

A

M

J

3.6

3.5

Georgia Department of Labor

Metro Atlanta Economic Indicators / August 2001 11

iInsured Unemployment Rate

1.49

1999-2000 2000-2001

1.27

Monthly Data

Seasonally Adjusted

PERCENTAGES

Month 1999-2000 2000-2001 1.05

Jul

0.63 %

0.66 %

Aug

0.64

0.69

Sep

0.63

0.69

0.83

Oct

0.64

0.67

Nov

0.63

0.69

Dec

0.64

0.77

Jan

0.70

0.83

0.61

Feb

0.64

0.86

M ar

0.63

0.92

Apr

0.63

1.03

M ay

0.64

1.14

0.39

June

J

A

S

O

N

D

J

F

M

A

M

J

0.65

1.24

MMARTA Passengers

7.5 1999-2000 2000-2001

MILLIONS

7.1

Monthly Data

Seasonally Adjusted

Month 1999-2000 2000-2001 6.7

Jul

6,125,000

5,995,000

Aug

6,270,000

6,648,000

Sep

6,414,000

6,490,000

6.3

Oct

6,419,000

6,503,000

Nov

6,671,000

6,459,000

Dec

6,542,000

6,194,000

Jan

6,476,000

6,799,000

5.9

Feb

6,589,000

6,221,000

M ar

6,703,000

6,433,000

Apr

6,263,000

6,284,000

M ay

6,671,000

6,578,000

5.5

June

J

A

S

O

N

D

J

F

M

A

M

J

7,068,000

6,539,000

Cobb Community Transit Passengers

249.6

1999-2000

2000-2001

205.5

161.4

THOUSANDS

117.2

73.1

29.0

J

A

S

O

N

D

J

12 Metro Atlanta Economic Indicators / August 2001

F

M

A

M

Monthly Data
Seasonally Adjusted

Month 1999-2000 2000-2001

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

118,552 141,427 135,838 126,490 120,472 140,513
89,020 136,507 140,823 174,709 196,736 126,596

126,250 137,760 132,960 135,407 135,877 124,577 137,730 129,505 176,786 149,578 170,072 179,771

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

Jul

4,991

5,416

Aug

4,812

5,074

Sep

4,391

4,936

4.8

Oct

4,243

4,169

Nov

6,242

5,153

Dec

4,618

4,569

Jan

5,639

6,236

3.9

Feb

5,305

6,386

M ar

5,801

5,197

Apr

6,037

5,355

M ay

5,789

5,884

3.1

June

J

A

S

O

N

D

J

F

M

A

M

J

5,453

6,482

Nonresidential Construction

$710

1999-2000 2000-2001

MILLIONS

$592

Monthly Data
Seasonally Adjusted

$474

Month 1999-2000 2000-2001

Jul

$370,283,000 $277,576,000

Aug

405,393,000

270,611,000

Sep

282,640,000

411,800,000

$356

Oct

262,985,000

359,115,000

Nov

272,326,000

253,203,000

Dec

448,218,000

313,388,000

Jan

306,194,000

348,961,000

$238

Feb

249,729,000

329,048,000

M ar

341,706,000

309,722,000

Apr

559,751,000

457,811,000

M ay

368,432,000

295,318,000

$120

June

J

A

S

O

N

D

J

F

M

A

M

J

546,766,000

290,681,000

Deflated Nonresidential Construction

$410

1999-2000 2000-2001

$341

Monthly Data
Seasonally Adjusted

MILLIONS

$271

Month 1999-2000 2000-2001

Jul

$222,125,000 $160,634,000

Aug

242,605,000

156,785,000

Sep

168,338,000

237,075,000

$202

Oct

156,353,000

206,388,000

Nov

161,810,000

145,435,000

Dec

266,321,000

180,108,000

Jan

181,395,000

199,292,000

$132

Feb

147,072,000

187,172,000

M ar

199,595,000

175,779,000

Apr

326,766,000

258,796,000

M ay

214,829,000

166,189,000

$63

June

J

A

S

O

N

D

J

F

M

A

M

J

316,416,000

163,304,000

Georgia Department of Labor

Metro Atlanta Economic Indicators / August 2001 13

Hotel Occupancy
71.4 1999-2000

2000-2001

68.5

Monthly Data

Seasonally Adjusted

PERCENTAGES

Month 1999-2000 2000-2001

65.5

Jul

67.14 %

68.05 %

Aug

64.31

67.15

Sep

67.10

67.87

62.6

Oct

67.27

64.71

Nov

65.84

65.64

Dec

60.08

61.87

Jan

66.59

65.81

59.7

Feb

65.04

64.80

M ar

64.95

67.35

Apr

63.05

62.14

M ay

64.49

63.76

56.7

June

J

A

S

O

N

D

J

F

M

A

M

J

67.51

64.97

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

DOLLARS

$91

Monthly Data

Seasonally Adjusted

Month 1999-2000 2000-2001 $85

Jul

Aug

Sep

$80

Oct

Nov

Dec

Jan

$74

Feb

M ar

Apr

M ay

$68

June

J

A

S

O

N

D

J

F

M

A

M

J

$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 82.01

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

$54

Monthly Data

Seasonally Adjusted

DOLLARS

Month 1999-2000 2000-2001 $50

Jul

$44.91

$45.45

Aug

46.83

46.00

Sep

47.03

46.96

$47

Oct

47.85

45.52

Nov

48.36

45.39

Dec

45.54

44.07

Jan

53.32

47.82

$43

Feb

46.52

46.51

M ar

46.59

46.02

Apr

M ay

$40

June

J

A

S

O

N

D

J

F

M

A

M

J

47.68 45.37 45.97

44.24 45.76 46.07

14 Metro Atlanta Economic Indicators / August 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

A

S

O

N

D

J

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

Monthly Data
Not Seasonally Adjusted

Month

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

F

M

A

M

J

* Does not include points

1999-2000
7.68 % 8.03 7.90 7.86 7.72 8.04 8.19 8.37 8.28 8.12 8.55 8.26

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

8.43

PERCENTAGES

7.76

7.09

6.42

5.75

J

A

S

O

N

D

J

F

M

A

M

J

* 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

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

June

8.01

6.77

7.50

Monthly Data

Not Seasonally Adjusted

PERCENTAGES

Month

1999-2000 2000-2001

6.87

Jul

5.98 %

7.26 %

Aug

6.26

7.35

Sep

6.30

7.34

6.24

Oct

6.36

7.14

Nov

6.30

7.06

Dec

6.51

6.92

Jan

6.72

6.50

5.61

Feb

6.93

6.22

M ar

6.90

6.00

Apr

6.82

5.83

M ay

7.09

5.79

4.98

June

J

A

S

O

N

D

J

F

M

A

M

J

7.22

5.71

* Does not include points

Georgia Department of Labor

Metro Atlanta Economic Indicators / August 2001 15

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