Metro Atlanta economic indicators, monthly report, Vol. 4, no. 8 (Oct. 2001)

AT L A N TA

METROPOLITAN
Economic

Indicators

A Monthly Report of Atlanta Labor Market and Economic Trends

October 2001

Volume 4, Issue 8

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 8 October 2001

August 2001 Data Cover art: Gwinnett County Courthouse, 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 / October 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 / October 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

165.9 172.1 176.9

166.5 171.9

167.0 3.3% 171.9 2.9%

Source: U.S. Bureau of Labor Statistics

Atlanta's CPI Declines in August

The Consumer Price Index for all Urban Consumers (CPI-U) for Atlanta declined 0.5 percent over the two months ended in August, not seasonally adjusted, to a level of 176.9 (1982-84=100), as reported by the Bureau of Labor Statistics of the U.S. Department of Labor. For the 12-month period ended in August, the CPI-U for Atlanta increased 2.8 percent.
Over the two months, the all items index reflected lower costs for housing , apparel and transportation. The twomonth decline was the first decrease registered by the all items index in the current calendar year, which had steadily risen over the first six months of 2001.
Housing costs showed a slight decline, dropping 0.1 percent over the most recent two months, after advancing 1.9 percent during May and June. The drop was due to lower costs for fuel and utilities and offset a 0.7 percent rise in

Following is the formula for figur-

ing Consumer Price Index changes

from one point in time to another.

Index point change

CPI Less previous index Equals index point change

112.5 108.5
4.0

Percentage change

Index point difference

4.0

Divide by the previous index 108.5

Equals

0.037

Results multiplied by 100 0.037x100

Equals percent change

3.7%

the cost for shelter. Overall, housing costs have risen 4.1 percent since August 2000.
The apparel index recorded a 3.6 percent decline over the past two months, after dropping 7.7 percent in the May-

June period. Since April 2001, the index has dropped over 11 percent compared to a 6.5 percent drop for the same period in 2000. Since August 2000, the index has decreased 8.6 percent.
Transportation costs dropped 3.2 percent after rising 1.4 percent in the previous pricing period. Lower gasoline costs contributed to the transportation index's fall, as gasoline costs decreased 13.7 percent over the two months. With the most recent decline, the gasoline index has fallen 11.1 percent since August 2000, while the overall transportation index has declined 0.4 percent. Other indexes reported include the medical care index that declined 0.4 percent in July-August after advancing 0.3 percent in the May-June pricing period. Consumers' costs for medical care in the Atlanta area now stand 3.8 percent higher than they were in August 2000.

Georgia Department of Labor

Metro Atlanta Economic Indicators / October 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 Economic Indicators Show Signs of Uncertainty

The Georgia Department of Labor's Index of Leading Economic Indicators for the Atlanta metropolitan area increased 0.3 percent in August from a revised 150.0 in July to 150.4 in August, after seasonal adjustment.
The construction sector contracted during the month of August. Nonresidential construction declined 18.8 percent to 314.4 million, after posting 386.9 million during the month of July. Permits for residential construction slipped 5.3 percent during the current reporting period. Initial unemployment claims increased for the second month, climbing 7.8 percent to 12,786 from 11,858 in July. Continued unemployment claims increased only 1.8 percent after jumping 22.3 percent the previous month.
The Index of Coincident Indicators declined 2.0 percent in August, to a level of 137.82 from a revised 140.65, after seasonal adjustment.

Recent 12 Months
57.4 Leading Coincident
52.4
47.3
42.3
37.3
1987-88 = 100 32.2
SOND J FMAMJ J A
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.

Nonagricultural employment remained sluggish, dipping 0.2 percent in August, after decreasing 0.6 percent the previous month. Of the eleven employment sectors tracked, only four managed to post gains during the month. The retail employment sector slipped 0.9 percent in August as government employment increased 2.4 percent.
Weekly manufacturing hours and earnings expanded 2.3 and 0.9 percent respectively, during the month of August. Unemployment in the metropolitan area increased one-tenth of a percentage point to 3.5 percent. Overall, the performance of this month's economic indicators shows a twist of economic uncertainty. The leading indicator has displayed sluggish growth for the past few months while the coincident indicator has contracted. This type of weak economic activity pushes the possibility of an economic rebound further into the future.

4 Metro Atlanta Economic Indicators / October 2001

Georgia Department of Labor

Data Summary
August 2001 Data

Metro Atlanta Economic Indicator

Aug 2001

Jul 2001

Aug 2000

Percent Change Jul 2001
to Aug 2001

Percent Change Aug 2000
to Aug 2001

Nonagricultural Employment

2,211,989

Wholesale Employment

181,955

Retail Employment

406,589

Services Employment

678,326

Manufacturing Employment

216,391

Government Employment

271,751

Construction Employment

116,603

Transp. & Pub. Utilities Employment

197,620

Finance, Insurance & Realty Employment

139,645

Business Services Employment

211,822

Health Services Employment

132,739

Social Services Employment

31,651

Manufacturing Workweek

39.5

Manufacturing Earnings

$563.77

Deflated Manufacturing Earnings

$317.62

Initial Unemployment Claims

12,786

Continued Unemployment Claims

125,602

Total Unemployment Rate (not seasonally adjusted) 3.5%

Insured Unemployment Rate

1.46%

MARTA Passengers

6,168,000

Cobb County Transit Passengers

191,556

Residential Construction (household units)

5,196

Nonresidential Construction (value)

$314,383,000

Deflated Nonresidential Construction

$177,117

Hotel Occupancy

63.9%

Average Hotel Room Rates

$80.45

Deflated Average Hotel Room Rate

$45.32

Average 30-Year Fixed Mortgage Rate

7.01%

Average 15-Year Fixed Mortgage Rate

6.53%

Average One-Year Adjustable Mortgage Rate

5.57%

Georgia Department of Labor

2,218,291 182,986 410,488 681,899 217,784 265,423 120,301 197,014 139,697 216,496 132,720 31,425 38.6 $558.69 $314.75 11,858 123,380 3.4% 1.34%
5,457,000 175,748 5,487
$386,935,000 $217,992 60.8% $75.20 $42.36 7.18% 6.73% 5.67%

2,207,756 178,573 395,827 683,187 223,859 262,447 123,257 193,792 142,828 236,422 126,468 30,625 39.9 $551.20 $319.35 8,054 60,917 3.1% 0.69%
6,648,000 137,760 5,074
$270,611,000 $156,785 67.2% $79.40 $46.00 8.04% 7.78% 7.35%

-0.28 -0.56 -0.95 -0.52 -0.64 2.38 -3.07 0.31 -0.04 -2.16 0.01 0.72 2.33 0.91 0.91 7.82 1.80
13.03 9.00 -5.29 -18.75 -18.75 6.98 6.98 -

0.19 1.89 2.72 -0.71 -3.34 3.54 -5.40 1.98 -2.23 -10.41 4.96 3.35 -0.99 2.28 -0.54 58.75 106.19
-7.22 39.05 2.41 16.18 12.97 1.32 -1.48 -

Metro Atlanta Economic Indicators / October 2001 5

Nonagricultural Employment
2.27 1999-2000 2000-2001

MILLIONS

2.24

Monthly Data

Seasonally Adjusted

Month 1999-2000 2000-2001 2.21

Sep

2,161,010

2,210,318

Oct

2,165,110

2,214,096

Nov

2,169,831

2,217,730

2.18

Dec

2,181,076

2,219,937

Jan

2,177,178

2,229,649

Feb

2,180,802

2,223,747

M ar

2,189,717

2,224,161

2.15

Apr M ay

2,187,603 2,196,843

2,232,955 2,233,780

Jun

2,203,692

2,232,903

Jul

2,203,998

2,218,291

2.12

Aug

S

O

N

D

J

F

M

A

M

J

J

A

2,207,756

2,211,989

Wholesale Employment

191.0

1999-2000 2000-2001

THOUSANDS

186.6

Monthly Data
Seasonally Adjusted

182.3

Month 1999-2000 2000-2001

Sep

Oct

Nov

178.0

Dec

Jan

Feb

M ar

173.6

Apr

M ay

Jun

Jul

169.3

Aug

S

O

N

D

J

F

M

A

M

J

J

A

174,397 174,325 173,981 174,925 175,967 176,547 177,023 177,091 177,469 177,948 178,901 178,573

179,126 178,964 178,999 179,803 180,060 180,530 181,774 185,920 184,781 185,309 182,986 181,955

Retail Employment

423.4

1999-2000 2000-2001

413.5

Monthly Data
Seasonally Adjusted

THOUSANDS

403.6

Month 1999-2000 2000-2001

Sep

Oct

Nov

393.8

Dec

Jan

Feb

M ar

383.9

Apr

M ay

Jun

Jul

374.0

Aug

S

O

N

D

J

F

M

A

M

J

J

A

386,061 389,581 392,593 396,156 388,590 390,012 392,847 393,161 394,837 395,986 396,628 395,827

394,649 399,385 402,555 404,998 406,387 403,654 405,595 407,984 411,778 411,087 410,488 406,589

6 Metro Atlanta Economic Indicators / October 2001

Georgia Department of Labor

Services Employment

714.5

1999-2000

2000-2001

700.7

Monthly Data
Seasonally Adjusted

THOUSANDS

686.8

Month 1999-2000 2000-2001

Sep

662,947

685,468

Oct

665,046

686,496

Nov

667,258

688,714

673.0

Dec

670,863

684,848

Jan

680,244

696,587

Feb

680,489

690,355

M ar

681,174

688,743

659.1

Apr M ay

678,175 679,445

690,425 688,247

Jun

685,415

684,696

Jul

685,642

681,899

645.3

Aug

S

O

N

D

J

F

M

A

M

J

J

A

683,187

678,326

Manufacturing Employment

232.7

1999-2000 2000-2001

THOUSANDS

228.5

Monthly Data
Seasonally Adjusted

224.2

Month 1999-2000 2000-2001

Sep

Oct

Nov

220.0

Dec

Jan

Feb

M ar

215.8

Apr

M ay

Jun

Jul

211.5

Aug

S

O

N

D

J

F

M

A

M

J

J

A

227,338 226,472 226,624 227,585 223,665 223,032 223,415 222,160 221,476 221,564 222,468 223,859

223,287 222,052 221,192 221,188 217,659 219,125 219,237 219,049 219,279 218,476 217,784 216,391

Government Employment

280.4

1999-2000

2000-2001

THOUSANDS

275.1

Monthly Data
Seasonally Adjusted

Month 1999-2000 2000-2001

269.9

Sep

264,267

267,327

Oct

262,179

268,992

Nov

261,642

268,548

264.6

Dec

262,353

269,478

Jan

261,483

268,056

Feb

263,084

270,653

M ar

263,951

270,687

259.3

Apr M ay

265,024 270,120

272,463 273,977

Jun

265,272

272,274

Jul

260,779

265,423

254.0

Aug

S

O

N

D

J

F

M

A

M

J

J

A

262,447

271,751

Georgia Department of Labor

Metro Atlanta Economic Indicators / October 2001 7

Construction Employment

126.5

1999-2000

2000-2001

THOUSANDS

123.8

Monthly Data
Seasonally Adjusted

Month 1999-2000 2000-2001

121.0

Sep

116,373

121,707

Oct

115,689

119,390

Nov

116,242

119,024

118.2

Dec

115,945

119,007

Jan

116,353

122,963

Feb

117,198

121,916

M ar

119,330

119,714

115.4

Apr M ay

118,994 119,517

118,571 118,355

Jun

120,611

118,534

Jul

122,405

120,301

112.6

Aug

S

O

N

D

J

F

M

A

M

J

J

A

123,257

116,603

Transportation and Public Utilities Employment

202.5

1999-2000

2000-2001

THOUSANDS

198.9

Monthly Data
Seasonally Adjusted

195.3

Month 1999-2000 2000-2001

Sep

Oct

Nov

191.7

Dec

Jan

Feb

M ar

188.1

Apr

M ay

Jun

Jul

184.6

Aug

S

O

N

D

J

F

M

A

M

J

J

A

189,029 190,166 190,997 191,944 191,495 191,823 192,932 190,479 191,002 191,590 191,813 193,792

194,246 194,161 194,987 195,665 196,061 197,930 198,164 197,014 197,337 198,223 197,014 197,620

Finance, Insurance and Realty Employment

145.3

1999-2000

2000-2001

143.4

Monthly Data
Seasonally Adjusted

THOUSANDS

141.4

Month 1999-2000

2000-2001

Sep

137,910

142,353

Oct

138,142

141,470

139.4

Nov

138,577

141,406

Dec

138,523

142,389

Jan

138,348

141,110

Feb

138,191

140,125

137.4

M ar Apr M ay

138,065 141,521 141,935

139,794 140,346 140,052

Jun

142,025

140,649

Jul

142,776

139,697

135.4

Aug

S

O

N

D

J

F

M

A

M

J

J

A

142,828

139,645

8 Metro Atlanta Economic Indicators / October 2001

Georgia Department of Labor

Business Services Employment

249.3

1999-2000

2000-2001

239.6

Monthly Data
Seasonally Adjusted

THOUSANDS

230.0

Month 1999-2000 2000-2001

Sep

225,776

236,526

Oct

227,358

236,141

Nov

229,291

234,311

220.3

Dec

229,053

232,054

Jan

237,852

237,880

Feb

236,712

230,679

M ar

235,287

227,689

210.6

Apr M ay

230,304 234,044

226,107 222,922

Jun

235,722

218,957

Jul

236,804

216,496

201.0

Aug

S

O

N

D

J

F

M

A

M

J

J

A

236,422

211,822

Health Services Employment

136.4

1999-2000

2000-2001

THOUSANDS

133.3

Monthly Data
Seasonally Adjusted

Month 1999-2000 2000-2001

130.1

Sep

124,929

127,386

Oct

124,484

126,997

Nov

125,130

128,272

127.0

Dec

125,796

127,609

Jan

125,467

129,051

Feb

125,263

129,412

M ar

125,433

129,375

123.8

Apr M ay

125,595 125,013

129,080 128,878

Jun

125,540

130,191

Jul

126,357

132,720

120.6

Aug

S

O

N

D

J

F

M

A

M

J

J

A

126,468

132,739

Social Services Employment
32.8 1999-2000 2000-2001

THOUSANDS

31.8

Monthly Data

Seasonally Adjusted

Month 1999-2000 2000-2001 30.8

Sep

29,494

30,500

Oct

30,310

30,485

Nov

30,528

30,524

29.8

Dec

30,727

30,448

Jan

31,018

30,436

Feb

31,167

30,986

M ar

31,473

30,683

28.8

Apr M ay

30,567 30,671

31,074 30,859

Jun

30,567

30,764

Jul

30,492

31,425

27.8

Aug

S

O

N

D

J

F

M

A

M

J

J

A

30,625

31,651

Georgia Department of Labor

Metro Atlanta Economic Indicators / October 2001

9

Manufacturing Workweek

42.7

1999-2000

2000-2001

HOURS

41.6

Monthly Data

Seasonally Adjusted

Month 1999-2000 2000-2001

40.6

Sep

40.9

38.7

Oct

40.1

39.8

Nov

40.6

39.0

39.5

Dec

40.3

38.7

Jan

40.5

39.2

Feb

40.2

39.0

M ar

40.5

38.9

38.5

Apr

41.4

38.6

M ay

40.0

39.7

Jun

40.1

40.2

Jul

39.6

38.6

37.4

Aug

S

O

N

D

J

F

M

A

M

J

J

A

39.9

39.5

Manufacturing Earnings

$603

1999-2000 2000-2001

DOLLARS

$585

Monthly Data
Seasonally Adjusted

$568

Month 1999-2000

2000-2001

Sep

$556.24

$539.19

Oct

534.23

559.95

Nov

550.92

553.62

$550

Dec

554.69

553.32

Jan

551.00

552.94

Feb

544.27

555.30

M ar

553.14

553.29

$533

Apr M ay

571.94 543.21

548.99 569.47

Jun

548.05

583.48

Jul

541.56

558.69

$515

Aug

S

O

N

D

J

F

M

A

M

J

J

A

551.20

563.77

Deflated Manufacturing Earnings

$345

1999-2000 2000-2001

DOLLARS

$336

Monthly Data
Seasonally Adjusted

$327

Month 1999-2000 2000-2001

Sep

$331.29

$310.41

Oct

317.61

321.81

Nov

327.34

317.99

$317

Dec

329.59

318.00

Jan

326.42

315.79

Feb

320.54

315.87

M ar

323.09

314.01

$308

Apr M ay

333.88 316.74

310.34 320.46

Jun

317.16

327.80

Jul

313.40

314.75

$299

Aug

S

O

N

D

J

F

M

A

M

J

J

A

319.35

317.62

10 Metro Atlanta Economic Indicators / October 2001

Georgia Department of Labor

Initial Unemployment Claims
15.5 1999-2000 2000-2001

THOUSANDS

13.0

Monthly Data

Seasonally Adjusted

Month 1999-2000 2000-2001

10.6

Sep

6,245

7,050

Oct

6,372

7,531

Nov

6,283

7,694

8.1

Dec

6,349

8,018

Jan

7,041

11,771

Feb

7,361

10,389

M ar

6,019

10,071

5.6

Apr

5,755

11,221

M ay

6,848

12,049

Jun

7,454

10,804

Jul

6,851

11,858

3.2

Aug

S

O

N

D

J

F

M

A

M

J

J

A

8,054

12,786

Continued Unemployment Claims

158.0

1999-2000 2000-2001

THOUSANDS

129.9

Monthly Data
Seasonally Adjusted

101.8

Month 1999-2000 2000-2001

Sep

51,275

59,395

Oct

51,991

71,422

Nov

62,161

60,067

73.7

Dec

52,107

63,229

Jan

64,099

84,799

Feb

55,856

79,998

M ar

51,222

76,174

45.6

Apr M ay

54,121 64,530

112,110 102,500

Jun

51,960

100,899

Jul

60,800

123,380

17.5

Aug

S

O

N

D

J

F

M

A

M

J

J

A

60,917

125,602

Total Unemployment Rate
4.1 1999-2000 2000-2001

PERCENTAGES

3.7

Monthly Data

Not Seasonally Adjusted

Month 1999-2000 2000-2001

3.2

Sep

3.1 %

3.1 %

Oct

3.1

2.9

Nov

2.7

2.5

2.8

Dec

2.6

2.4

Jan

2.8

2.7

Feb

3.1

3.1

Mar

3.1

3.1

2.3

Apr

2.8

2.9

May

3.0

3.0

Jun

3.6

3.5

Jul

3.3

3.4

1.9

Aug

S

O

N

D

J

F

M

A

M

J

J

A

3.1

3.5

Georgia Department of Labor

Metro Atlanta Economic Indicators / October 2001 11

iInsured Unemployment Rate

1.77

1999-2000 2000-2001

1.48

Monthly Data

Seasonally Adjusted

PERCENTAGES

Month 1999-2000 2000-2001 1.20

Sep

0.63 %

0.69 %

Oct

0.64

0.67

Nov

0.63

0.69

0.91

Dec

0.64

0.77

Jan

0.70

0.83

Feb

0.64

0.86

M ar

0.63

0.92

0.63

Apr M ay

0.63

1.03

0.64

1.14

Jun

0.65

1.24

Jul

0.66

1.34

0.34

Aug

S

O

N

D

J

F

M

A

M

J

J

A

0.69

1.46

MMARTA Passengers

7.8 1999-2000 2000-2001

MILLIONS

7.2

Monthly Data

Seasonally Adjusted

Month 1999-2000 2000-2001

6.6

Sep

6,414,000

6,490,000

Oct

6,419,000

6,503,000

Nov

6,671,000

6,459,000

6.0

Dec

6,542,000

6,194,000

Jan

6,476,000

6,799,000

Feb

6,589,000

6,221,000

M ar

6,703,000

6,433,000

5.4

Apr M ay

6,263,000 6,671,000

6,284,000 6,578,000

Jun

7,068,000

6,539,000

Jul

5,995,000

5,457,000

Aug 4.8

S

O

N

D

J

F

M

A

M

J

J

A

6,648,000

6,168,000

Cobb Community Transit Passengers

249.6

1999-2000

2000-2001

205.5

Monthly Data
Seasonally Adjusted

THOUSANDS

161.4

Month 1999-2000 2000-2001

Sep

135,838

132,960

Oct

126,490

135,407

Nov

120,472

135,877

117.2

Dec

140,513

124,577

Jan

89,020

137,730

Feb

136,507

129,505

M ar

140,823

176,786

73.1

Apr M ay

174,709 196,736

149,578 170,072

Jun

126,596

179,771

Jul

126,250

175,748

29.0

Aug

S

O

N

D

J

F

M

A

M

J

J

A

137,760

191,556

12 Metro Atlanta Economic Indicators / October 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

Sep

4,391

4,936

Oct

4,243

4,169

Nov

6,242

5,153

4.8

Dec

4,618

4,569

Jan

5,639

6,236

Feb

5,305

6,386

M ar

5,801

5,197

3.9

Apr

6,037

5,355

M ay

5,789

5,884

Jun

5,453

6,482

Jul

5,416

5,487

3.1

Aug

S

O

N

D

J

F

M

A

M

J

J

A

5,074

5,196

Nonresidential Construction

$710

1999-2000 2000-2001

MILLIONS

$592

Monthly Data
Seasonally Adjusted

$474

Month 1999-2000 2000-2001

Sep

$282,640,000 $411,800,000

Oct

262,985,000

359,115,000

Nov

272,326,000

253,203,000

$356

Dec

448,218,000

313,388,000

Jan

306,194,000

348,961,000

Feb

249,729,000

329,048,000

M ar

341,706,000

309,722,000

$238

Apr M ay

559,751,000 368,432,000

457,811,000 295,318,000

Jun

546,766,000

290,681,000

Jul

277,576,000

386,935,000

$120

Aug

S

O

N

D

J

F

M

A

M

J

J

A

270,611,000

314,383,000

Deflated Nonresidential Construction

$410

1999-2000 2000-2001

$341

Monthly Data
Seasonally Adjusted

MILLIONS

$271

Month 1999-2000 2000-2001

Sep

$168,338,000 $237,075,000

Oct

156,353,000

206,388,000

Nov

161,810,000

145,435,000

$202

Dec

266,321,000

180,108,000

Jan

181,395,000

199,292,000

Feb

147,072,000

187,172,000

M ar

199,595,000

175,779,000

$132

Apr M ay

326,766,000 214,829,000

258,796,000 166,189,000

Jun

316,416,000

163,304,000

Jul

160,634,000

217,992,000

$63

Aug

S

O

N

D

J

F

M

A

M

J

J

A

156,785,000

177,117,000

Georgia Department of Labor

Metro Atlanta Economic Indicators / October 2001 13

Hotel Occupancy
71.4 1999-2000

2000-2001

68.5

Monthly Data

Seasonally Adjusted

PERCENTAGES

Month 1999-2000 2000-2001

65.5

Sep

67.10 %

67.87 %

Oct

67.27

64.71

Nov

65.84

65.64

62.6

Dec

60.08

61.87

Jan

66.59

65.81

Feb

65.04

64.80

M ar

64.95

67.35

59.7

Apr M ay

63.05 64.49

62.14 63.76

Jun

67.51

64.97

Jul

68.05

60.79

56.7

Aug

S

O

N

D

J

F

M

A

M

J

J

A

67.15

63.85

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

DOLLARS

$91

Monthly Data

Seasonally Adjusted

Month 1999-2000 2000-2001 $85

Sep

Oct

Nov

$80

Dec

Jan

Feb

M ar

$74

Apr

M ay

Jun

Jul

$68

Aug

S

O

N

D

J

F

M

A

M

J

J

A

$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 75.20 80.45

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

$54

Monthly Data

Seasonally Adjusted

DOLLARS

Month 1999-2000 2000-2001 $50

Sep

Oct

Nov

$46

Dec

Jan

Feb

M ar

$42

Apr

M ay

Jun

Jul

$38

Aug

S

O

N

D

J

F

M

A

M

J

J

A

$47.03 47.85 48.36 45.54 53.32 46.52 46.59 47.68 45.37 45.97 45.45 46.00

$46.96 45.52 45.39 44.07 47.82 46.51 46.02 44.24 45.76 46.07 42.36 45.32

14 Metro Atlanta Economic Indicators / October 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

S

O

N

D

J

F

M

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

Monthly Data
Not Seasonally Adjusted

Month

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

A

M

J

J

A

* Does not include points

1999-2000
7.90 % 7.86 7.72 8.04 8.19 8.37 8.28 8.12 8.55 8.26 8.16 8.04

2000-2001
7.95 % 7.81 7.79 7.45 7.17 7.13 7.02 7.11 7.22 7.22 7.18 7.01

8.43

PERCENTAGES

7.76

7.09

6.42

5.75

S

O

N

D

J

F

M

A

M

J

J

A

* 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

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

Jun

8.01

6.77

Jul

7.87

6.73

Aug

7.78

6.53

7.46

Monthly Data

Not Seasonally Adjusted

PERCENTAGES

Month

1999-2000 2000-2001

6.79

Sep

6.30 %

7.34 %

Oct

6.36

7.14

Nov

6.30

7.06

6.12

Dec

6.51

6.92

Jan

6.72

6.50

Feb

6.93

6.22

M ar

6.90

6.00

5.46

Apr

6.82

5.83

M ay

7.09

5.79

Jun

7.22

5.71

Jul

7.26

5.67

4.79

Aug

S

O

N

D

J

F

M

A

M

J

J

A

7.35

5.57

* Does not include points

Georgia Department of Labor

Metro Atlanta Economic Indicators / October 2001 15

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