Metro Atlanta economic indicators, monthly report, Vol. 5, no. 1 (Mar. 2002)

ATL ANTA

METROPOLITAN
Economic Indicators

A Monthly Report of Atlanta Labor Market and Economic Trends

March 2002

Volume 5, Issue 1

Georgia Department of Labor
Michael L. Thurmond Commissioner

Metro Rockdale

Pickens Bartow Cherokee Forsyth

Cobb Paulding

Gwinnett Barrow

Carroll

Douglas Fulton DeKalb
Clayton

Walton Newton

Fayette
Coweta

Henry

Spalding

Atlanta
Economic
Indicators
Monthly Report Volume 5, Issue 1 March 2002

January 2002 Data
Cover art: Herndon Home, Atlanta, Georgia 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 30303-1751. The telephone number is (404) 656-3177.

Georgia Department of Labor
Michael L. Thurmond, Commissioner
An Equal Opportunity Employer/Programs Auxiliary Aids and Services Available Upon Request to Individuals With Disabilities

Georgia Department of Labor

Metro Atlanta Economic Indicators / March 2002 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.
Please note: Annually, employment estimates are adjusted to a count of all employees in a geographical area (known as benchmarking). Revisions to 2001, 2000 and 1999 nonfarm jobs have been completed. These newly bechmarked series are reflected in the current January data.
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 30303-1751. 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

2 Metro Atlanta Economic Indicators / March 2002

Georgia Department of Labor

Consumer Price Index for the South

1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995

Jan
110.2 114.1 118.9 124.6 131.4 134.4 138.4 142.5 146.7

Feb 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

Mar
111.1 114.8 119.8 126.0 131.9 135.5 139.7 143.6 148.0

Apr 80.6 89.0 94.7 98.8 103.1 106.4 107.9 111.5 115.4 120.8 126.1 132.1 135.9 140.2 143.8 148.4

May
111.8 115.6 121.3 126.5 132.5 136.2 140.7 144.3 148.8

Jun 82.2 90.4 97.0 99.6 103.6 107.1 108.7 112.2 116.1 121.7 127.3 132.8 136.7 140.8 144.7 149.1

Jul
112.6 116.6 122.0 127.8 133.0 136.8 140.9 145.0 149.2

Aug 82.7 91.9 97.6 100.2 104.3 107.6 108.7 112.9 117.0 122.1 128.7 133.3 137.0 141.5 145.5 149.7

Sep
113.5 117.7 122.5 129.7 133.8 137.3 141.6 145.8 149.8

Oct 84.2 93.0 98.0 101.2 105.1 108.3 109.4 113.8 118.2 123.0 130.7 134.1 137.8 142.2 145.9 150.5

Nov
114.1 118.3 123.2 130.9 134.4 138.1 142.3 146.0 150.4

Dec 85.8 94.3 97.8 101.3 105.3 108.7 109.7 114.0 118.5 123.4 130.9 134.3 137.9 142.2 146.1 150.3

Rate 12.5 9.9 3.7 3.6 3.9 3.2 0.9 3.9 3.9 4.1 6.1 2.6 2.7 3.1 2.7 2.9

1996

151.1 151.5 152.4 153.2 153.5 154.0 154.0 154.1 154.5 154.9 155.1 155.1

3.2

1997

155.7 156.1 156.5 156.7 156.6 157.0 157.0 157.1 157.5 157.8 157.8 157.3

1.4

1998

157.6 157.8 158.2 158.5 158.8 159.1 159.3 159.5 159.5 159.8 159.6 159.6

1.5

1999

159.9 160.0 160.6 161.5 161.6 161.7 162.2 162.6 163.2 163.6 163.5 163.6

2.5

2000

164.0 164.7 166.4 166.6 166.6 167.4 167.9 168.0 168.5 168.5 168.6 168.4

2.9

2001

169.3 170.2 170.6 171.4 171.7 172.2 171.6 171.5 172.2 171.7 171.0 170.3

1.1

2002

170.6

Source: U.S. Bureau of Labor Statistics

The CPI for the South Increases in January

The Consumer Price Index for All Urban Consumers (CPI-U) for the South increased 0.2 percent in January, not seasonally adjusted, to a level of 170.6 (1982-84=100), as reported by the Bureau of Labor Statistics of the U.S. Department of Labor. Over the past 12 months, the CPI-U, South has increased 0.8 percent, the smallest 12-month increase since the index began in 1967.
January's increase is the first increase in three months. Higher costs for food and beverages, housing, and transportation were partially offset by lower costs for apparel. After three months of decline, energy costs increased 0.3 percent in January, reflecting increasing costs for motor fuels. Excluding food and energy, the CPI-U, South rose 0.1 percent over the month.
Over the year, higher costs for housing and food and beverages were partially offset by lower costs for apparel and

Following is the formula for figuring

Consumer Price Index changes from one point in time to another.
Index point change

CPI

112.5

Less previous index

108.5

Equals index point change

4.0

Percentage change

January. Shelter costs increased 0.5 percent, while costs for fuels and utilities decreased 1.5 percent, with electricity costs dropping 2.5 percent over the month. Costs for utility natural gas service increased 0.4 percent in January, but remained 25.4 percent lower than the level recorded a year ago.
The transportation index increased 0.4

Index point difference

4.0 percent in January. Gasoline costs, the

Divide by the previous index 108.5 largest component of the motor fuels index,

Equals

0.037 recorded a 3.7 percent increase over the

Results multiplied by 100 0.037x100

Equals percent change

3.7%

month, but remain 22.4 percent below the level recorded a year ago. Over the past

12 months, the transportation index has

transportation. Energy costs reached their declined 4.0 percent.

highest level in June of last year, but now Costs for medical care continued to rise

stand 14.1 percent below the level in January. The index rose 0.4 percent over

recorded in January 2001. Excluding the month, reflecting a 0.5 percent increase

food and energy, the CPI-U, South has in the index for medical care services. Over

risen 2.0 percent since January 2001. the year, medical care costs have increased

After several months of decline, the 3.6 percent.

housing index increased 0.2 percent in

Georgia Department of Labor

Metro Atlanta Economic Indicators / March 2002 3

National Compensation Survey
Atlanta, GA

Average wage in metro area Electrical engineers
Computer systems analysts Registered nurses Pharmacists Teachers, college
Teachers, except college Lawyers
Accountants Construction inspectors
Receptionist Data entry keyers
Auto mechanics Electricians
Mixing machine operators Truck drivers
Production helpers Supervisors, police and detectives
Waiters and waitresses Nursing aides
Janitors and cleaners

$18.07 $33.32
$29.75 $21.80
$34.12 $36.06
$28.34

$19.68

$16.90 $10.49
$12.57 $17.31

$18.31 $13.74
$15.11

$10.32

$23.88

$4.27 $8.79

$9.65

Mean hourly earnings

$55.96

Note: Data released October 9, 2001 by BLS
The Average Wage in Metro Atlanta hits $18 mark

Workers in the Atlanta metropolitan area averaged $18.07 per hour during January 2001, according to the survey released by the U.S. Department of Labor's Bureau of Labor statistics (BLS).
White-collar workers averaged $22.09 per hour and accounted for 55 percent of the workers in the area. Blue-collar employees averaged $14.13 per hour and represented 30 percent of the workforce, while the remainder worked in service occupations and earned $10.81 per hour.
The National Compensation Survey (NCS) presents straight-time earnings for occupations in establishments employing 50 or more workers in private industry and state and local governments. This NCS covered 337 firms representing 905,300 workers in the Atlanta metropolitan area.
In the Atlanta metropolitan area,

average hourly wages were published for 110 detailed occupations. Among whitecollar workers, pharmacists averaged $34.12 per hour; construction inspectors, $16.90; and receptionists, $10.49. Bluecollar occupations included electricians earning $18.31 per hour; mixing and blending machine operators at $13.74; and production helpers at $10.32. In the service occupations, public service police and detectives averaged $16.05 per hour; janitors and cleaners, $9.65; and nursing aides, orderlies and attendants, $8.79.
The NCS also provides broad coverage of selected occupational characteristics. For example, full-time employees in the Atlanta area averaged $18.64 per hour and part-timers earned $9.25. Union workers in blue-collar jobs averaged $16.69 per hour, while their nonunion counterparts made $13.43. Private industry workers at establishments employing 50-99 workers

averaged $14.98 per hour, while those in establishments with 500 or more employees earned $20.44.
Data provided by the NCS may be used by businesses for establishing pay plans, making decisions concerning plant relocation, and in collective bargaining negotiations.
Copies of the complete National Compensation Survey are available on the Internet at http:// www.bls.gov/ ro4news.htm and from the Bureau's fax-on-demand service by dialing (404) 331-3403 and re-
questing docum ent9430.

4 Metro Atlanta Economic Indicators / March 2002

Georgia Department of Labor

Data Summary
January 2002 Data

Metro Atlanta Economic Indicator

Jan 2002

Dec 2001

Jan 2001

Percent Percent Change Change

Dec 2001 Jan 2001

to

to

Jan 2002 Jan 2002

Nonagricultural Employment

2,148,782

Wholesale Employment

162,270

Retail Employment

393,894

Services Employment

661,658

Manufacturing Employment

213,300

Government Employment

277,911

Construction Employment

116,219

Transp. & Pub. Utilities Employment

181,321

Finance, Insurance & Realty Employment

140,649

Business Services Employment

201,810

Health Services Employment

130,877

Social Services Employment

33,911

Manufacturing Workweek

37.3

Manufacturing Earnings

$535.22

Deflated Manufacturing Earnings

$302.21

Initial Unemployment Claims

14,616

Continued Unemployment Claims

166,026

Total Unemployment Rate (not seasonally adjusted) 4.4%

Insured Unemployment Rate

2.00%

MARTA Passengers

5,645,000

Cobb County Transit Passengers

186,592

Residential Construction (household units)

5,226

Nonresidential Construction (value)

$332,767,000

Deflated Nonresidential Construction

$187,898

Hotel Occupancy

59.9%

Average Hotel Room Rates

$77.81

Deflated Average Hotel Room Rate

$43.93

Average 30-Year Fixed Mortgage Rate

7.03%

Average 15-Year Fixed Mortgage Rate

6.52%

Average One-Year Adjustable Mortgage Rate

4.99%

Georgia Department of Labor

2,147,497 162,368 395,442 663,531 208,484 277,667 114,719 181,429 140,207 204,204 131,098 33,752 38.9 $559.84 $316.83 13,885 189,033 4.2% 1.99%
5,760,000 172,187 4,826
$186,475,000 $105,532 55.3% $73.52 $41.61 7.17% 6.65% 5.26%

2,199,393 170,504 398,320 687,922 215,961 270,538 119,720 193,645 141,392 231,751 125,934 32,180 39.1 $550.79 $314.56 11,539 78,839 2.9% 0.82%
6,600,000 141,285 5,949
$354,911,000 $202,690 65.0% $82.53 $47.13 7.17% 6.74% 6.50%

0.06 -0.06 -0.39 -0.28 2.31 0.09 1.31 -0.06 0.31 -1.17 -0.17 0.47 -4.33 -4.40 -4.61 5.26 -12.17
-2.00 8.37 8.30 78.45 78.05 5.84 5.60 -

-2.30 -4.83 -1.11 -3.82 -1.23 2.73 -2.92 -6.36 -0.53 -12.92 3.93 5.38 -4.61 -2.83 -3.92 26.67 110.59
-14.47 32.07 -12.15 -6.24 -7.30 -5.72 -6.78 -

Metro Atlanta Economic Indicators / March 2002 5

Nonagricultural Employment

2.25

2000-2001 2001-2002

2.22

Monthly Data
Seasonally Adjusted

Month 2000-2001 2001-2002 2.19

Feb

Mar

Apr

2.17

May

Jun

Jul

Aug

2.14

Sep

Oct

Nov

Dec

2.12

Jan

F

M

A

M

J

J

A

S

O

N

D

J

2,160,306 2,171,265 2,168,400 2,176,197 2,181,190 2,182,146 2,190,815 2,191,073 2,195,286 2,200,703 2,204,842 2,199,393

2,201,436 2,205,457 2,212,235 2,205,265 2,204,728 2,196,446 2,187,626 2,184,321 2,185,609 2,160,248 2,147,497 2,148,782

Wholesale Employment

180.9

2000-2001 2001-2002

176.2

171.4

166.6

161.9

157.1

F

M

A

M

J

J

A

S

O

N

D

Monthly Data
Seasonally Adjusted
Month 2000-2001

2001-2002

Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan J

174,847 175,551 174,182 173,757 173,367 172,513 171,880 170,937 170,371 169,345 169,761 170,504

169,542 169,720 169,364 168,736 169,520 170,210 167,889 168,089 168,062 167,416 162,368 162,270

Retail Employment

411.5

2000-2001 2001-2002

404.6

Monthly Data
Seasonally Adjusted

397.7

Month 2000-2001 2001-2002

Feb

Mar

Apr

390.8

May

Jun

Jul

Aug

383.9

Sep

Oct

Nov

Dec

377.0

Jan

F

M

A

M

J

J

A

S

O

N

D

J

387,087 389,282 389,320 390,416 391,699 391,542 392,650 392,803 394,699 398,257 398,610 398,320

398,616 400,920 401,984 401,803 401,290 396,967 396,531 395,769 395,528 394,349 395,442 393,894

6 Metro Atlanta Economic Indicators / March 2002

Georgia Department of Labor

Services Employment

709.5

2000-2001 2001-2002

696.8

Monthly Data
Seasonally Adjusted

684.1

Month 2000-2001 2001-2002

Feb

667,518

687,678

Mar

671,889

688,722

Apr

669,797

693,171

671.3

May

672,465

689,963

Jun

679,515

688,556

Jul

682,225

688,432

Aug

686,911

685,960

658.6

Sep

688,611

681,110

Oct

688,958

681,820

Nov

689,450

670,195

Dec

690,858

663,531

645.8

Jan

F

M

A

M

J

J

A

S

O

N

D

J

687,922

661,658

Manufacturing Employment

229.6

2000-2001 2001-2002

224.0

218.4

212.8

207.2

201.6

F

M

A

M

J

Government Employment

286.0

2000-2001 2001-2002

J

A

S

O

N

D

Monthly Data
Seasonally Adjusted
Month 2000-2001

Feb Mar Apr May Jun Jul
Aug Sep Oct Nov Dec Jan J

222,745 222,763 222,639 221,858 222,571 218,876 221,181 220,284 219,354 218,679 218,388 215,961

2001-2002
216,332 215,752 213,394 211,695 211,596 210,996 210,224 210,013 210,737 207,678 208,484 213,300

279.6

Monthly Data
Seasonally Adjusted

273.2

Month 2000-2001 2001-2002

Feb

Mar

Apr

266.8

May

Jun

Jul

Aug

260.4

Sep

Oct

Nov

Dec

254.0

Jan

F

M

A

M

J

J

A

S

O

N

D

J

264,444 265,313 265,509 268,947 264,330 261,620 264,461 265,399 266,476 267,915 267,421 270,538

272,243 272,965 272,995 272,817 272,967 270,500 268,116 273,845 274,057 275,806 277,667 277,911

Georgia Department of Labor

Metro Atlanta Economic Indicators / March 2002 7

Construction Employment

128.1

2000-2001 2001-2002

124.6

Monthly Data
Seasonally Adjusted

Month 2000-2001 2001-2002

121.1

Feb

115,485

120,093

Mar

117,864

120,265

Apr

117,417

122,183

117.6

May

118,011

121,631

Jun

119,152

122,045

Jul

119,997

120,752

Aug

119,908

122,476

114.0

Sep

120,157

121,443

Oct

119,460

123,625

Nov

119,207

118,467

Dec

119,098

114,719

110.5

Jan

F

M

A

M

J

J

A

S

O

N

D

J

119,720

116,219

Transportation and Public Utilities Employment

207.1

2000-2001 2001-2002

200.2

Monthly Data
Seasonally Adjusted

193.2

Month 2000-2001 2001-2002

Feb

Mar

Apr

186.2

May

Jun

Jul

Aug

179.3

Sep

Oct

Nov

Dec

172.3

Jan

F

M

A

M

J

J

A

S

O

N

D

J

186,863 188,361 189,198 189,770 190,148 190,386 191,791 191,839 194,155 195,982 196,488 193,645

192,909 193,073 194,821 194,625 194,442 192,674 193,229 191,284 187,871 183,492 181,429 181,321

Finance, Insurance and Realty Employment

145.9

2000-2001 2001-2002

144.2

Monthly Data
Seasonally Adjusted

142.5

Month 2000-2001 2001-2002

Feb

Mar

Apr

140.7

May

Jun

Jul

Aug

139.0

Sep

Oct

Nov

Dec

137.3

Jan

F

M

A

M

J

J

A

S

O

N

D

J

139,366 139,221 139,510 139,891 140,235 140,957 141,114 140,117 140,662 140,820 141,060 141,392

141,711 142,343 143,418 143,536 143,978 142,551 142,019 141,658 142,105 141,056 140,207 140,649

8 Metro Atlanta Economic Indicators / March 2002

Georgia Department of Labor

Business Services Employment
254.5 2000-2001 2001-2002

240.3

226.1

211.9

197.7

183.5

F

M

A

M

J

Health Services Employment

136.5

2000-2001 2001-2002

J

A

S

O

N

D

Monthly Data
Seasonally Adjusted

Month 2000-2001

Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan J

226,870 229,981 225,188 229,320 231,241 233,704 236,420 237,307 237,776 236,095 237,132 231,751

2001-2002
229,301 229,264 226,603 225,539 222,177 223,289 222,957 220,140 216,269 204,182 204,204 201,810

133.2

129.9

126.6

123.3

120.0

F

M

A

M

J

Social Services Employment

35.3

2000-2001 2001-2002

J

A

S

O

N

D

Monthly Data
Seasonally Adjusted
Month 2000-2001

2001-2002

Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan
J

124,009 124,046 124,542 124,598 125,192 124,415 125,192 125,420 126,221 126,427 126,414 125,934

126,943 127,363 128,711 129,493 130,653 130,221 129,892 130,478 132,458 131,142 131,098 130,877

34.1

Monthly Data
Seasonally Adjusted

Month 2000-2001 2001-2002 33.0

Feb

Mar

Apr

31.8

May

Jun

Jul

Aug

30.6

Sep

Oct

Nov

Dec

29.4

Jan

F

M

A

M

J

J

A

S

O

N

D

J

30,977 31,232 31,149 31,248 31,188 31,063 31,460 31,333 31,405 31,509 31,932 32,180

32,164 32,188 32,128 32,021 31,950 32,622 32,100 32,960 33,386 33,895 33,752 33,911

Georgia Department of Labor

Metro Atlanta Economic Indicators / March 2002

9

Manufacturing Workweek

43.8

2000-2001

2001-2002

42.2

Monthly Data

Seasonally Adjusted

Month 2000-2001 2001-2002

40.5

Feb

40.0

38.9

Mar

40.5

38.9

Apr

41.9

38.4

38.8

May Jun

40.4

39.6

40.0

40.1

Jul

39.5

38.8

Aug

39.8

39.6

37.1

Sep

38.8

39.8

Oct

39.9

38.6

Nov

39.3

38.9

Dec

39.0

38.9

35.5

Jan

F

M

A

M

J

J

A

S

O

N

D

J

39.1

37.3

Manufacturing Earnings

$603

2000-2001 2001-2002

$585

Monthly Data
Seasonally Adjusted

$568

Month 2000-2001 2001-2002

$550

Feb Mar Apr May Jun Jul

$544.67 555.13 583.67 552.27 552.51 547.47

$553.01 551.74 541.22 561.95 575.65 555.90

Aug

560.32

561.00

$533

Sep

Oct

Nov

Dec

$515

Jan

F

M

A

M

J

J

A

S

O

N

D

J

548.43 569.35 563.98 552.40 550.79

569.47 544.90 543.04 559.84 535.22

Deflated Manufacturing Earnings

$356

2000-2001 2001-2002

$342

Monthly Data
Seasonally Adjusted

$329

Month 2000-2001 2001-2002

$315

Feb Mar Apr May

$320.77 324.26 340.73 322.02

$314.57 313.13 305.95 316.23

Jun

319.74

323.40

$301

Jul

316.82

313.18

Aug

324.64

316.06

Sep

315.73

319.39

Oct

327.21

306.64

Nov

323.94

306.11

Dec

$288

Jan

F

M

A

M

J

J

A

S

O

N

D

J

317.47 314.56

316.83 302.21

10 Metro Atlanta Economic Indicators / March 2002

Georgia Department of Labor

Initial Unemployment Claims
25.5 2000-2001 2001-2002

20.4

Monthly Data
Seasonally Adjusted

Month 2000-2001 2001-2002

15.3

Feb

7,311

10,223

Mar

6,129

10,221

Apr

5,608

10,910

10.2

May

6,705

11,798

Jun

7,552

10,967

Jul

6,861

11,834

Aug

8,219

13,049

5.1

Sep

7,057

12,523

Oct

7,534

19,180

Nov

7,795

17,429

Dec

8,228

13,885

0.0

Jan

F

M

A

M

J

J

A

S

O

N

D

J

11,539

14,616

Continued Unemployment Claims

256.9

2000-2001 2001-2002

205.6

Monthly Data
Seasonally Adjusted

154.3

Month

2000-2001 2001-2002

Feb

Mar

Apr

103.0

May

Jun

Jul

Aug

51.8

Sep

Oct

Nov

Dec

0.5

Jan

F

M

A

M

J

J

A

S

O

N

D

J

56,182 51,650 53,297 65,495 56,248 61,750 59,873 59,470 73,196 59,977 61,431 78,839

80,310 76,932 110,332 104,108 109,620 124,874 123,371 131,061 190,425 164,254 189,033 166,026

Total Unemployment Rate
5.2 2000-2001 2001-2002

4.5

Monthly Data

Not Seasonally Adjusted

3.8

3.1

2.4

1.7

F

M

A

M

J

J

A

S

O

N

D

Month
Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan J

2000-2001
3.1% 3.0 2.8 2.9 3.5 3.3 3.1 3.1 3.0 2.6 2.6 2.9

2001-2002
3.1 % 3.0 2.8 3.0 3.7 3.6 3.6 3.8 4.1 4.1 4.2 4.4

Georgia Department of Labor

Metro Atlanta Economic Indicators / March 2002 11

iInsured Unemployment Rate

2.55

2000-2001 2001-2002

2.04

Monthly Data
Seasonally Adjusted

1.54

1.04

0.53

0.03

F

M

A

M

J

MMARTA Passengers

J

A

S

O

N

D

Month
Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan J

2000-2001
0.65 % 0.63 0.63 0.63 0.65 0.66 0.68 0.68 0.68 0.69 0.78 0.82

2001-2002
0.88 % 0.93 1.02 1.13 1.23 1.35 1.44 1.68 1.75 2.01 1.99 2.00

7.8 2000-2001 2001-2002

7.2

Monthly Data

Seasonally Adjusted

Month 2000-2001 2001-2002

6.6

Feb

Mar

Apr

6.0

May

Jun

Jul

Aug

5.4

Sep

Oct

Nov

Dec

Jan

4.8

F

M

A

M

J

J

A

S

O

N

D

J

6,599,000 6,647,000 6,315,000 6,658,000 7,043,000 6,032,000 6,681,000 6,565,000 6,566,000 6,505,000 6,126,000 6,600,000

6,228,000 6,378,000 6,335,000 6,572,000 6,512,000 5,481,000 6,196,000 5,994,000 6,043,000 5,916,000 5,760,000 5,645,000

Cobb Community Transit Passengers

235.9

2000-2001 2001-2002

205.7

Monthly Data
Seasonally Adjusted

175.6

Month 2000-2001 2001-2002

Feb

Mar

Apr

145.4

May

Jun

Jul

Aug

115.2

Sep

Oct

Nov

Dec

85.0

Jan

F

M

A

M

J

J

A

S

O

N

D

J

137,406 138,882 172,616 195,133 125,437 126,747 136,845 132,248 138,910 137,090 123,707 141,285

130,075 174,076 147,888 168,529 177,233 176,523 189,661 173,058 187,596 193,266 172,187 186,592

12 Metro Atlanta Economic Indicators / March 2002

Georgia Department of Labor

Residential Construction
7.5 2000-2001 2001-2002

6.6

Monthly Data

Seasonally Adjusted

Month

2000-2001 2001-2002

5.8

Feb

5,130

6,144

Mar

5,708

5,089

Apr

5,905

5,201

4.9

May

5,753

5,799

Jun

5,465

6,447

Jul

5,312

5,390

Aug

5,211

5,358

4.1

Sep

5,066

4,915

Oct

4,282

4,939

Nov

5,083

4,686

Dec

5,011

4,826

3.2

Jan

F

M

A

M

J

J

A

S

O

N

D

J

5,949

5,226

Nonresidential Construction

$710

2000-2001 2001-2002

$570

Monthly Data
Seasonally Adjusted

$430

Month 2000-2001 2001-2002

Feb

$248,271,000 $324,993,000

Mar

351,021,000

315,487,000

Apr

535,747,000

430,876,000

$290

May

392,505,000

312,898,000

Jun

561,138,000

299,961,000

Jul

254,659,000

351,753,000

Aug

262,446,000

306,256,000

$150

Sep

387,210,000

326,715,000

Oct

351,400,000

347,295,000

Nov

263,093,000

450,041,000

Dec

343,026,000

186,475,000

$10

Jan

354,911,000

332,767,000

F

M

A

M

J

J

A

S

O

N

D

J

Deflated Nonresidential Construction

$426

2000-2001 2001-2002

$342

Monthly Data
Seasonally Adjusted

$258

Month 2000-2001 2001-2002

Feb

$146,214,000 $184,865,000

Mar

205,036,000

179,051,000

Apr

312,754,000

243,570,000

$174

May

228,866,000

176,082,000

Jun

324,733,000

168,517,000

Jul

147,372,000

198,171,000

Aug

152,054,000

172,539,000

$90

Sep

222,919,000

183,239,000

Oct

201,954,000

195,439,000

Nov

151,116,000

253,687,000

Dec

197,141,000

105,532,000

$6

Jan

202,690,000

187,898,000

F

M

A

M

J

J

A

S

O

N

D

J

Georgia Department of Labor

Metro Atlanta Economic Indicators / March 2002 13

Hotel Occupancy

76.4

2000-2001

2001-2002

69.9

63.3

56.7

50.2

43.6

F

M

A

M

J

Average Hotel Room Rates

$88 2000-2001 2001-2002

J

A

S

O

N

D

Monthly Data
Seasonally Adjusted

Month
Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan J

2000-2001
64.84 % 64.68 64.21 64.79 67.60 68.51 66.95 67.40 65.82 64.76 60.70 65.05

2001-2002
64.85 % 66.92 63.47 64.03 65.04 61.16 63.66 51.34 58.12 55.98 55.29 59.85

$83

Monthly Data

Seasonally Adjusted

Month

2000-2001 2001-2002

$79

Feb

Mar

Apr

$75

May

Jun

Jul

Aug

$71

Sep

Oct

Nov

Dec

$67

Jan

F

M

A

M

J

J

A

S

O

N

D

J

$78.06 80.22 82.01 78.01 78.64 80.99 78.41 82.28 79.89 79.24 75.75 82.53

$80.68 81.33 78.87 81.42 81.28 77.39 79.49 72.01 78.51 74.70 73.52 77.81

Deflated Average Hotel Room Rates
$52 2000-2001 2001-2002

$49

Monthly Data

Seasonally Adjusted

Month

2000-2001 2001-2002

$46

Feb

Mar

Apr

$43

May

Jun

Jul

Aug

$39

Sep

Oct

Nov

Dec

$36

Jan

F

M

A

M

J

J

A

S

O

N

D

J

$45.97 46.85 47.88 45.49 45.51 46.87 45.43 47.37 45.92 45.51 43.53 47.13

$45.89 46.15 44.59 45.82 45.66 43.60 44.78 40.39 44.18 42.11 41.61 43.93

14 Metro Atlanta Economic Indicators / March 2002

Georgia Department of Labor

Average 30-Year Fixed Mortgage Rate*

9.38

2000-2001 2001-2002

8.65

7.92

7.19

6.46

5.73

F

M

A

M

J

J

A

Average 15-Year Fixed Mortgage Rate*
9.10 2000-2001 2001-2002

Monthly Data
Not Seasonally Adjusted

Month

Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan

S

O

N

D

J

* Does not include points

2000-2001
8.37 % 8.28 8.12 8.55 8.26 8.16 8.04 7.95 7.81 7.79 7.45 7.17

2001-2002
7.13 % 7.02 7.11 7.22 7.22 7.18 7.01 6.82 6.62 6.72 7.17 7.03

8.33

7.57

6.80

6.04

5.27

F

M

A

M

J

J

A

S

O

N

D

J

* Does not include points

Average One-Year Adjustable Mortgage Rate*

8.45

2000-2001

2001-2002

Monthly Data
Not Seasonally Adjusted

Month

2000-2001

2001-2002

Feb

7.96 %

6.73 %

Mar

7.87

6.59

Apr

7.78

6.62

May

8.27

6.70

Jun

8.01

6.77

Jul

7.87

6.73

Aug

7.78

6.53

Sep

7.63

6.35

Oct

7.48

6.15

Nov

7.45

6.24

Dec

7.09

6.65

Jan

6.74

6.52

7.55

Monthly Data

Not Seasonally Adjusted

Month

6.66

Feb

Mar

Apr

5.77

May

Jun

Jul

Aug

4.88

Sep

Oct

Nov

Dec

3.99

Jan

F

M

A

M

J

J

A

S

O

N

D

J

* Does not include points

2000-2001
6.93 % 6.90 6.82 7.09 7.22 7.26 7.35 7.34 7.14 7.06 6.92 6.50

2001-2002
6.22 % 6.00 5.83 5.79 5.71 5.67 5.57 5.38 5.05 5.05 5.26 4.99

Georgia Department of Labor

Metro Atlanta Economic Indicators / March 2002 15

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