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 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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