Metro Atlanta economic indicators, monthly report, Vol. 4, no. 9 (Nov. 2001)

AT L A N TA

METROPOLITAN
Economic

Indicators

A Monthly Report of Atlanta Labor Market and Economic Trends

November 2001

Volume 4, Issue 9

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 9 November 2001

September 2001 Data
Cover art: Walton County Courthouse 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 / November 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 / November 2001

Georgia Department of Labor

Consumer Price Index for the South

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
110.2 114.1 118.9 124.6 131.4 134.4 138.4 142.5 146.7 151.1 155.7 157.6 159.9 164.0 169.3

Feb 62.4 68.9 78.5 87.8 95.1 98.0 102.4 105.7 108.9 110.7 114.4 119.2 125.4 131.7 134.9 139.1 142.9 147.4 151.5 156.1 157.8 160.0 164.7 170.2

Mar
111.1 114.8 119.8 126.0 131.9 135.5 139.7 143.6 148.0 152.4 156.5 158.2 160.6 166.4 170.6

Apr 63.5 70.3 80.6 89.0 94.7 98.8
103.1

May

Jun 64.9 72.2 82.2 90.4 97.0 99.6
103.6

Jul

Aug

Sep

Oct

Nov

Dec

Rate

65.9

66.8

67.7

9.9

73.6

75.0

76.3

12.7

82.7

84.2

85.8

12.5

91.9

93.0

94.3

9.9

97.6

98.0

97.8

3.7

100.2

101.2

101.3

3.6

104.3

105.1

105.3

3.9

106.4

107.1

107.6

108.3

108.7

3.2

107.9

108.7

108.7

109.4

109.7

0.9

111.5 111.8 112.2 112.6 112.9 113.5 113.8 114.1 114.0

3.9

115.4 115.6 116.1 116.6 117.0 117.7 118.2 118.3 118.5

3.9

120.8 121.3 121.7 122.0 122.1 122.5 123.0 123.2 123.4

4.1

126.1 126.5 127.3 127.8 128.7 129.7 130.7 130.9 130.9

6.1

132.1 132.5 132.8 133.0 133.3 133.8 134.1 134.4 134.3

2.6

135.9 136.2 136.7 136.8 137.0 137.3 137.8 138.1 137.9

2.7

140.2 140.7 140.8 140.9 141.5 141.6 142.2 142.3 142.2

3.1

143.8 144.3 144.7 145.0 145.5 145.8 145.9 146.0 146.1

2.7

148.4 148.8 149.1 149.2 149.7 149.8 150.5 150.4 150.3

2.9

153.2 153.5 154.0 154.0 154.1 154.5 154.9 155.1 155.1

3.2

156.7 156.6 157.0 157.0 157.1 157.5 157.8 157.8 157.3

1.4

158.5 158.8 159.1 159.3 159.5 159.5 159.8 159.6 159.6

1.5

161.5 161.6 161.7 162.2 162.6 163.2 163.6 163.5 163.6

2.5

166.6 166.6 167.4 167.9 168.0 168.5 168.5 168.6 168.4

2.9

171.4 171.7 172.2 171.6 171.5 172.2

Source: U.S. Bureau of Labor Statistics

CPI for the South

The Consumer Price Index (CPI-U) for All Urban Consumers for the South increased 0.4 percent in September, not seasonally adjusted, to a level of 172.2 (1982-84=100), according to data released by the U.S. Department of Labor's Bureau of Labor Statistics. For the 12-month period ending in September, the CPI-U, South increased 2.2 percent.
Over the month, higher costs for gasoline accounted for much of the increase. Energy costs increased 2.4 percent in September, also reflecting an increase in the costs for motor fuel. The increase in the energy index comes after a 2.7 percent decline in August and a 5.1 percent decline in July. Excluding food and energy, the CPIU, South rose 0.2 percent over the month.

Although housing costs were down over the month, they remain the largest part of the increase over the past year, as shelter costs rose 2.6 percent and costs for household fuels and utilities increased 5.1 percent since September 2000. After decreasing 0.1 percent in August, the housing index declined another 0.4 percent in September. Shelter costs declined 0.4 percent, after increasing 0.2 percent in August. The fuels and utilities index decreased 0.7 percent during the month of September.
The index for apparel increased 4.2 percent over the month, the largest onemonth increase since March 1990. Despite the latest increase, the index has decreased 0.7 percent so far this year compared to a 1.6 percent decrease for the same period a year ago. After declining 2.5 percent in July, and

another 0.9 percent in August, the transportation index increased 1.3 percent in September, despite a decline in costs for new and used motor vehicles. The increase in the transportation index resulted from a 6.9 percent increase in the costs for motor fuel. Costs for gasoline, which had been declining since June, increased 7.0 percent in September. Including the most recent monthly increase, the index for gasoline remains 5.5 percent below the level recorded in September 2000.
Medical care costs rose 0.1 percent in September to a level 3.5 percent higher than a year ago. The increase in medical care commodities pushed the index higher. The September increase was the smallest monthly increase recorded for the medical care index since May 2001.

Georgia Department of Labor

Metro Atlanta Economic Indicators / November 2001 3

value (in millions)

$2,000 $1,500 $1,000
$500 $-

Non-Residential Construction Data

Cobb

DeKalb

Fulton

Gwinnett

* Value of construction for the four major counties in Metro Atlanta

Value-2000

Value-2001

Data Provided by Dodge MarketTrack
Commercial Construction Slows in the Metro Area

Over the past two quarters, the availability of commercial office space has increased, causing construction activity to decline. Employment in the construction sector has also declined as the demand for new commercial development evaporated. Some companies have decided to delay new projects and expansions until the economy rebounds. Residential construction has performed much better by benefiting from low mortgage rates, which have made homes more affordable. However, it will be difficult for the sector to maintain sales momentum if plant closings and layoff announcements continue. Total construction in the metro area reached 39,215 projects (year-todate), which is 1.6 percent above the number of projects last year at this time. The value of construction projects (year-to- date) have dropped 12 percent to $9.2 million compared

to $10.4 million for the same period last year. For the month of September total building construction (which includes residential and non-residential projects) in the metro area reached 3,459 projects which amounted to $796 million, 20.1 percent below the value of construction projects produced last September. The non-residential construction sector accounted for 138 projects, with a total value of $316.2 million during the month of September, 33 percent below the value posted in September 2000. Cobb, DeKalb, Fulton, and Gwinnett Counties accounted for 75 percent of the projects during the month for a combined total of $208.8 million.
During the year, DeKalb was the only county of the four able to surpass the level achieved last year in commercial construction. Throughout the course of this year commercial construction has declined in Fulton County; the number of projects posted is down 50 percent

and the value of projects are down 48 percent compared to the same time period last year. Residential construction accounted for 3,321 projects, which totaled $480 million during the month of September. Cobb, DeKalb, Fulton, and Gwinnett Counties accounted for 48 percent of the residential projects in metro Atlanta with a combined value of $278.6 million during the month .
Gwinnett County has managed to stay on track and dodge the construction slump, thus far, by exceeding the number and value of residential projects achieved last September. Fulton County has also been able to exceed the number of projects posted this time last year. However, the cumulative value of residential projects have dropped 24 percent when compared to the same time period last year. The demand for higherpriced homes has declined as consumers scale back and the future of the economy becomes uncertain.

4 Metro Atlanta Economic Indicators / November 2001

Georgia Department of Labor

Data Summary
September 2001 Data

Metro Atlanta Economic Indicators

Sep 2001 Aug 2001

Sep 2000

Percent Change Aug 2001
to Sep 2001

Percent Change Sep 2000
to Sep 2001

Nonagricultural Employment

2,204,499

Wholesale Employment

185,338

Retail Employment

406,916

Services Employment

675,706

Manufacturing Employment

215,319

Government Employment

272,482

Construction Employment

113,192

Transp. & Pub. Utilities Employment

195,658

Finance, Insurance & Realty Employment

137,477

Business Services Employment

210,606

Health Services Employment

131,407

Social Services Employment

31,404

Manufacturing Workweek

38.9

Manufacturing Earnings

$550.26

Deflated Manufacturing Earnings

$308.61

Initial Unemployment Claims

12,396

Continued Unemployment Claims

130,577

Total Unemployment Rate ( not seasonally adjusted ) 3.7%

Insured Unemployment Rate

1.71%

MARTA Passengers

5,915,000

Cobb County Transit Passengers

173,999

Residential Construction (household units)

4,779

Nonresidential Construction (value)

$346,553,000

Deflated Nonresidential Construction

$194,365

Hotel Occupancy

51.7%

Average Hotel Room Rates

$71.55

Deflated Average Hotel Room Rate

$40.13

Average 30-Year Fixed Mortgage Rate

6.82%

Average 15-Year Fixed Mortgage Rate

6.35%

Average One-Year Adjustable Mortgage Rate

5.38%

Georgia Department of Labor

2,213,989 184,248 407,290 677,929 216,092 271,444 116,603 197,820 139,346 211,822 132,540 31,854 39.9 $567.50 $319.72 12,786 125,602 3.5% 1.46%
6,168,000 191,556 5,196
$314,383,000 $177,117 63.9% $80.45 $45.32 7.01% 6.53% 5.57%

2,210,318 179,126 394,649 685,468 223,287 267,327 121,707 194,246 142,353 236,526 127,386 30,500 38.7 $539.19 $310.41 7,050 59,395 3.1% 0.69%
6,490,000 132,960 4,936
$411,800,000 $237,075 67.9% $81.58 $46.96 7.95% 7.78% 7.34%

-0.43 0.59 -0.09 -0.33 -0.36 0.38 -2.92 -1.09 -1.34 -0.57 -0.85 -1.42 -2.68 -3.04 -3.47 -3.05 3.96
-4.10 -9.17 -8.03 10.23 9.74 -11.05 -11.45 -

-0.26 3.47 3.11 -1.42 -3.57 1.93 -7.00 0.73 -3.43 -10.96 3.16 2.96 0.54 2.05 -0.58 75.83 119.85
-8.86 30.87 -3.19 -15.84 -18.02 -12.29 -14.55 -

Metro Atlanta Economic Indicators / November 2001 5

Nonagricultural Employment
2.27 1999-2000 2000-2001

MILLIONS

2.24

Monthly Data

Seasonally Adjusted

Month 1999-2000 2000-2001 2.21

Oct

2,165,110

2,214,096

Nov

2,169,831

2,217,730

Dec

2,181,076

2,219,937

2.19

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

2.16

M ay Jun

2,196,843 2,203,692

2,233,780 2,232,903

Jul

2,203,998

2,218,291

Aug

2,207,756

2,213,989

2.13

Sep

O

N

D

J

F

M

A

M

J

J

A

S

2,210,318

2,204,499

Wholesale Employment

191.0

1999-2000 2000-2001

THOUSANDS

186.6

Monthly Data
Seasonally Adjusted

182.3

Month 1999-2000 2000-2001

Oct

Nov

Dec

178.0

Jan

Feb

M ar

Apr

173.6

M ay

Jun

Jul

Aug

169.3

Sep

O

N

D

J

F

M

A

M

J

J

A

S

174,325 173,981 174,925 175,967 176,547 177,023 177,091 177,469 177,948 178,901 178,573 179,126

178,964 178,999 179,803 180,060 180,530 181,774 185,920 184,781 185,309 182,986 184,248 185,338

Retail Employment

423.4

1999-2000 2000-2001

414.1

Monthly Data
Seasonally Adjusted

THOUSANDS

404.8

Month 1999-2000 2000-2001

Oct

Nov

Dec

395.6

Jan

Feb

M ar

Apr

386.3

M ay

Jun

Jul

Aug

377.0

Sep

O

N

D

J

F

M

A

M

J

J

A

S

389,581 392,593 396,156 388,590 390,012 392,847 393,161 394,837 395,986 396,628 395,827 394,649

399,385 402,555 404,998 406,387 403,654 405,595 407,984 411,778 411,087 410,488 407,290 406,916

6 Metro Atlanta Economic Indicators / November 2001

Georgia Department of Labor

Services Employment

714.7

1999-2000

2000-2001

701.4

Monthly Data
Seasonally Adjusted

THOUSANDS

688.1

Month 1999-2000 2000-2001

Oct

665,046

686,496

Nov

667,258

688,714

Dec

670,863

684,848

674.7

Jan

680,244

696,587

Feb

680,489

690,355

M ar

681,174

688,743

Apr

678,175

690,425

661.4

M ay Jun

679,445 685,415

688,247 684,696

Jul

685,642

681,899

Aug

683,187

677,929

648.1

Sep

O

N

D

J

F

M

A

M

J

J

A

S

685,468

675,706

Manufacturing Employment

232.7

1999-2000 2000-2001

THOUSANDS

228.2

Monthly Data
Seasonally Adjusted

223.7

Month 1999-2000 2000-2001

Oct

Nov

Dec

219.2

Jan

Feb

M ar

Apr

214.7

M ay

Jun

Jul

Aug

210.2

Sep

O

N

D

J

F

M

A

M

J

J

A

S

226,472 226,624 227,585 223,665 223,032 223,415 222,160 221,476 221,564 222,468 223,859 223,287

222,052 221,192 221,188 217,659 219,125 219,237 219,049 219,279 218,476 217,784 216,092 215,319

Government Employment

280.4

1999-2000

2000-2001

THOUSANDS

275.1

Monthly Data
Seasonally Adjusted

269.9

Month 1999-2000 2000-2001

Oct

262,179

268,992

Nov

261,642

268,548

Dec

262,353

269,478

264.6

Jan

261,483

268,056

Feb

263,084

270,653

M ar

263,951

270,687

Apr

265,024

272,463

259.3

M ay Jun

270,120 265,272

273,977 272,274

Jul

260,779

265,423

Aug

262,447

271,444

254.0

Sep

O

N

D

J

F

M

A

M

J

J

A

S

267,327

272,482

Georgia Department of Labor

Metro Atlanta Economic Indicators / November 2001 7

Construction Employment

127.2

1999-2000

2000-2001

THOUSANDS

123.6

Monthly Data
Seasonally Adjusted

Month 1999-2000 2000-2001

120.0

Oct

115,689

119,390

Nov

116,242

119,024

Dec

115,945

119,007

116.3

Jan

116,353

122,963

Feb

117,198

121,916

M ar

119,330

119,714

Apr

118,994

118,571

112.7

M ay Jun

119,517 120,611

118,355 118,534

Jul

122,405

120,301

Aug

123,257

116,603

109.1

Sep

O

N

D

J

F

M

A

M

J

J

A

S

121,707

113,192

Transportation and Public Utilities Employment

202.5

1999-2000

2000-2001

THOUSANDS

199.2

Monthly Data
Seasonally Adjusted

195.9

Month 1999-2000 2000-2001

Oct

Nov

Dec

192.6

Jan

Feb

M ar

Apr

189.3

M ay

Jun

Jul

Aug

186.0

Sep

O

N

D

J

F

M

A

M

J

J

A

S

190,166 190,997 191,944 191,495 191,823 192,932 190,479 191,002 191,590 191,813 193,792 194,246

194,161 194,987 195,665 196,061 197,930 198,164 197,014 197,337 198,223 197,014 197,820 195,658

Finance, Insurance and Realty Employment

145.3

1999-2000

2000-2001

143.3

Monthly Data
Seasonally Adjusted

THOUSANDS

141.2

Month 1999-2000

2000-2001

Oct

138,142

141,470

Nov

138,577

141,406

139.2

Dec

138,523

142,389

Jan

138,348

141,110

Feb

138,191

140,125

M ar

138,065

139,794

137.1

Apr M ay Jun

141,521 141,935 142,025

140,346 140,052 140,649

Jul

142,776

139,697

Aug

142,828

139,346

135.0

Sep

O

N

D

J

F

M

A

M

J

J

A

S

142,353

137,477

8 Metro Atlanta Economic Indicators / November 2001

Georgia Department of Labor

Business Services Employment

249.2

1999-2000

2000-2001

239.2

Monthly Data
Seasonally Adjusted

THOUSANDS

229.1

Month Oct

1999-2000
227,358

2000-2001
236,141

Nov

229,291

234,311

Dec

229,053

232,054

219.1

Jan

237,852

237,880

Feb

236,712

230,679

M ar

235,287

227,689

Apr

230,304

226,107

209.1

M ay Jun

234,044 235,722

222,922 218,957

Jul

236,804

216,496

Aug

236,422

211,822

199.1

Sep

O

N

D

J

F

M

A

M

J

J

A

S

236,526

210,606

Health Services Employment

136.4

1999-2000

2000-2001

THOUSANDS

133.3

Monthly Data
Seasonally Adjusted

Month 1999-2000 2000-2001

130.1

Oct

124,484

126,997

Nov

125,130

128,272

Dec

125,796

127,609

127.0

Jan

125,467

129,051

Feb

125,263

129,412

M ar

125,433

129,375

Apr

125,595

129,080

123.8

M ay Jun

125,013 125,540

128,878 130,191

Jul

126,357

132,720

Aug

126,468

132,540

120.6

Sep

O

N

D

J

F

M

A

M

J

J

A

S

127,386

131,407

Social Services Employment
33.2 1999-2000 2000-2001

THOUSANDS

Monthly Data

32.2

Seasonally Adjusted

Month 1999-2000 2000-2001

Oct

31.2

Nov

Dec

Jan

Feb

M ar

30.2

Apr

M ay

Jun

Jul

Aug

29.2

Sep

O

N

D

J

F

M

A

M

J

J

A

S

30,310 30,528 30,727 31,018 31,167 31,473 30,567 30,671 30,567 30,492 30,625 30,500

30,485 30,524 30,448 30,436 30,986 30,683 31,074 30,859 30,764 31,425 31,854 31,404

Georgia Department of Labor

Metro Atlanta Economic Indicators / November 2001 9

Manufacturing Workweek

43.3

1999-2000

2000-2001

HOURS

Monthly Data

41.6

Seasonally Adjusted

Month 1999-2000 2000-2001

Oct

40.0

Nov

Dec

Jan

Feb

M ar

38.3

Apr

M ay

Jun

Jul

Aug

36.7

Sep

O

N

D

J

F

M

A

M

J

J

A

S

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

40.1

40.2

39.6

38.6

39.9

39.9

38.7

38.9

Manufacturing Earnings

$603

1999-2000 2000-2001

DOLLARS

$585

Monthly Data
Seasonally Adjusted

$568

Month 1999-2000

2000-2001

Oct

$534.23

$559.95

Nov

550.92

553.62

Dec

554.69

553.32

$550

Jan

551.00

552.94

Feb

544.27

555.30

M ar

553.14

553.29

Apr

571.94

548.99

$533

M ay Jun

543.21 548.05

569.47 583.48

Jul

541.56

558.69

Aug

551.20

567.50

$515

Sep

539.19

550.26

O

N

D

J

F

M

A

M

J

J

A

S

Deflated Manufacturing Earnings

$346

1999-2000 2000-2001

DOLLARS

$336

Monthly Data
Seasonally Adjusted

$326

Month 1999-2000 2000-2001

Oct

$317.61

$321.81

Nov

327.34

317.99

Dec

329.59

318.00

$316

Jan

326.42

315.79

Feb

320.54

315.87

M ar

323.09

314.01

Apr

333.88

310.34

$306

M ay Jun

316.74 317.16

320.46 327.80

Jul

313.40

314.75

Aug

319.35

319.72

$296

Sep

O

N

D

J

F

M

A

M

J

J

A

S

310.41

308.61

10 Metro Atlanta Economic Indicators / November 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

Oct

6,372

7,531

Nov

6,283

7,694

Dec

6,349

8,018

8.1

Jan

7,041

11,771

Feb

7,361

10,389

M ar

6,019

10,071

Apr

5,755

11,221

5.6

M ay

6,848

12,049

Jun

7,454

10,804

Jul

6,851

11,858

Aug

8,054

12,786

3.2

Sep

O

N

D

J

F

M

A

M

J

J

A

S

7,050

12,396

Continued Unemployment Claims

163.6

1999-2000 2000-2001

THOUSANDS

134.4

Monthly Data
Seasonally Adjusted

105.2

Month 1999-2000 2000-2001

Oct

51,991

71,422

Nov

62,161

60,067

Dec

52,107

63,229

76.0

Jan

64,099

84,799

Feb

55,856

79,998

M ar

51,222

76,174

Apr

54,121

112,110

46.7

M ay Jun

64,530 51,960

102,500 100,899

Jul

60,800

123,380

Aug

60,917

125,602

17.5

Sep

O

N

D

J

F

M

A

M

J

J

A

S

59,395

130,577

Total Unemployment Rate
4.2 1999-2000 2000-2001

PERCENTAGES

3.8

Monthly Data

Not Seasonally Adjusted

Month 1999-2000 2000-2001

3.3

Oct

3.1 %

2.9 %

Nov

2.7

2.5

Dec

2.6

2.4

2.8

Jan

2.8

2.7

Feb

3.1

3.1

Mar

3.1

3.1

Apr

2.8

2.9

2.4

May

3.0

3.0

Jun

3.6

3.5

Jul

3.3

3.4

Aug

3.1

3.5

1.9

Sep

O

N

D

J

F

M

A

M

J

J

A

S

3.1

3.7

Georgia Department of Labor

Metro Atlanta Economic Indicators / November 2001 11

iInsured Unemployment Rate

2.21

1999-2000 2000-2001

1.79

Monthly Data

Seasonally Adjusted

PERCENTAGES

Month 1999-2000 2000-2001 1.38

Oct

0.64 %

0.67 %

Nov

0.63

0.69

Dec

0.64

0.77

0.96

Jan

0.70

0.83

Feb

0.64

0.86

M ar

0.63

0.92

Apr

0.63

1.03

0.55

M ay Jun

0.64

1.14

0.65

1.24

Jul

0.66

1.34

Aug

0.69

1.46

0.13

Sep

O

N

D

J

F

M

A

M

J

J

A

S

0.69

1.71

MMARTA Passengers

7.8 1999-2000 2000-2001

MILLIONS

7.2

Monthly Data

Seasonally Adjusted

Month 1999-2000 2000-2001 6.6

Oct

6,419,000

6,503,000

Nov

6,671,000

6,459,000

Dec

6,542,000

6,194,000

6.0

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

5.4

M ay

6,671,000

6,578,000

Jun

7,068,000

6,539,000

Jul

5,995,000

5,457,000

Aug

6,648,000

6,168,000

4.8

Sep

O

N

D

J

F

M

A

M

J

J

A

S

6,490,000

5,915,000

Cobb Community Transit Passengers

249.6

1999-2000 2000-2001

205.5

Monthly Data
Seasonally Adjusted

THOUSANDS

161.4

Month 1999-2000 2000-2001

Oct

126,490

135,407

Nov

120,472

135,877

Dec

140,513

124,577

117.2

Jan

89,020

137,730

Feb

136,507

129,505

M ar

140,823

176,786

Apr

174,709

149,578

73.1

M ay Jun

196,736 126,596

170,072 179,771

Jul

126,250

175,748

Aug

137,760

191,556

29.0

Sep

O

N

D

J

F

M

A

M

J

J

A

S

132,960

173,999

12 Metro Atlanta Economic Indicators / November 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

Oct

4,243

4,169

Nov

6,242

5,153

Dec

4,618

4,569

4.8

Jan

5,639

6,236

Feb

5,305

6,386

M ar

5,801

5,197

Apr

6,037

5,355

3.9

M ay

5,789

5,884

Jun

5,453

6,482

Jul

5,416

5,487

Aug

5,074

5,196

3.1

Sep

O

N

D

J

F

M

A

M

J

J

A

S

4,936

4,779

Nonresidential Construction

$710

1999-2000 2000-2001

MILLIONS

$592

Monthly Data
Seasonally Adjusted

$474

Month 1999-2000 2000-2001

Oct

$262,985,000 $359,115,000

Nov

272,326,000

253,203,000

Dec

448,218,000

313,388,000

$356

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

$238

M ay Jun

368,432,000 546,766,000

295,318,000 290,681,000

Jul

277,576,000

386,935,000

Aug

270,611,000

314,383,000

$120

Sep

O

N

D

J

F

M

A

M

J

J

A

S

411,800,000

346,553,000

Deflated Nonresidential Construction

$410

1999-2000 2000-2001

$341

Monthly Data
Seasonally Adjusted

MILLIONS

$271

Month 1999-2000 2000-2001

Oct

$156,353,000 $206,388,000

Nov

161,810,000

145,435,000

Dec

266,321,000

180,108,000

$202

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

$132

M ay Jun

214,829,000 316,416,000

166,189,000 163,304,000

Jul

160,634,000

217,992,000

Aug

156,785,000

177,117,000

$63

Sep

O

N

D

J

F

M

A

M

J

J

A

S

237,075,000

194,365,000

Georgia Department of Labor

Metro Atlanta Economic Indicators / November 2001 13

Hotel Occupancy
76.4 1999-2000

2000-2001

69.9

Monthly Data

Seasonally Adjusted

PERCENTAGES

Month 1999-2000 2000-2001

63.3

Oct

67.27 %

64.71 %

Nov

65.84

65.64

Dec

60.08

61.87

56.7

Jan

66.59

65.81

Feb

65.04

64.80

M ar

64.95

67.35

Apr

63.05

62.14

50.2

M ay Jun

64.49 67.51

63.76 64.97

Jul

68.05

60.79

Aug

67.15

63.85

43.6

Sep

O

N

D

J

F

M

A

M

J

J

A

S

67.87

51.74

Average Hotel Room Rates

$98 1999-2000 2000-2001

DOLLARS

$91

Monthly Data

Seasonally Adjusted

Month 1999-2000 2000-2001 $85

Oct

Nov

Dec

$78

Jan

Feb

M ar

Apr

$71

M ay

Jun

Jul

Aug

$64

Sep

O

N

D

J

F

M

A

M

J

J

A

S

$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 71.55

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

$54

Monthly Data

Seasonally Adjusted

DOLLARS

Month 1999-2000 2000-2001 $49

Oct

Nov

Dec

$45

Jan

Feb

M ar

Apr

$40

M ay

Jun

Jul

Aug

$35

Sep

O

N

D

J

F

M

A

M

J

J

A

S

$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 40.13

14 Metro Atlanta Economic Indicators / November 2001

Georgia Department of Labor

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

8.62

PERCENTAGES

8.00

7.37

6.75

6.12

O

N

D

J

F

M

A

Average 15-Year Fixed Mortgage Rate*
9.09 1999-2000 2000-2001

Monthly Data
Not Seasonally Adjusted

Month

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

M

J

J

A

S

* Does not include points

1999-2000
7.86 % 7.72 8.04 8.19 8.37 8.28 8.12 8.55 8.26 8.16 8.04 7.95

2000-2001
7.81 % 7.79 7.45 7.17 7.13 7.02 7.11 7.22 7.22 7.18 7.01 6.82

8.38

PERCENTAGES

7.67

6.96

6.26

5.55

O

N

D

J

F

M

A

M

J

J

A

S

* 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

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

Sep

7.78

6.35

7.42

Monthly Data

Not Seasonally Adjusted

PERCENTAGES

Month

1999-2000 2000-2001

6.71

Oct

6.36 %

7.14 %

Nov

6.30

7.06

Dec

6.51

6.92

6.00

Jan

6.72

6.50

Feb

6.93

6.22

M ar

6.90

6.00

Apr

6.82

5.83

5.30

M ay

7.09

5.79

Jun

7.22

5.71

Jul

7.26

5.67

Aug

7.35

5.57

4.59

Sep

O

N

D

J

F

M

A

M

J

J

A

S

7.34

5.38

* Does not include points

Georgia Department of Labor

Metro Atlanta Economic Indicators / November 2001 15

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