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 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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