Metro Atlanta economic indicators, monthly report, Vol. 5, no. 11 (Jan. 2003)

A T L A N TA

METROPOLITAN
Economic Indicators

A Monthly Report of Atlanta Labor Market and Economic Trends

January 2003

Volume 5, Issue 11

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 5, Issue 11 January 2003

November 2002 Data
Cover art: Birthplace of Dr.Martin Luther King Jr., 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 303031751. 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 / January 2003

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 the Georgia 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

2 Metro Atlanta Economic Indicators / January 2003

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 1996 1997 1998 1999 2000 2001 2002

Jan
110.2 114.1 118.9 124.6 131.4 134.4 138.4 142.5 146.7 151.1 155.7 157.6 159.9 164.0 169.3 170.6

Feb 78.5 87.8 95.1 98.0 102.4 105.7 108.9 110.7 114.4 119.2 125.4 131.7 134.9 139.1 142.9 147.4 151.5 156.1 157.8 160.0 164.7 170.2 171.0

Mar
111.1 114.8 119.8 126.0 131.9 135.5 139.7 143.6 148.0 152.4 156.5 158.2 160.6 166.4 170.6 172.1

Apr 80.6 89.0 94.7 98.8 103.1 106.4 107.9 111.5 115.4 120.8 126.1 132.1 135.9 140.2 143.8 148.4 153.2 156.7 158.5 161.5 166.6 171.4 173.1

May
111.8 115.6 121.3 126.5 132.5 136.2 140.7 144.3 148.8 153.5 156.6 158.8 161.6 166.6 171.7 173.2

Jun 82.2 90.4 97.0 99.6 103.6 107.1 108.7 112.2 116.1 121.7 127.3 132.8 136.7 140.8 144.7 149.1 154.0 157.0 159.1 161.7 167.4 172.2 173.5

Jul
112.6 116.6 122.0 127.8 133.0 136.8 140.9 145.0 149.2 154.0 157.0 159.3 162.2 167.9 171.6 173.6

Aug 82.7 91.9 97.6 100.2 104.3 107.6 108.7 112.9 117.0 122.1 128.7 133.3 137.0 141.5 145.5 149.7 154.1 157.1 159.5 162.6 168.0 171.5 173.8

Sep
113.5 117.7 122.5 129.7 133.8 137.3 141.6 145.8 149.8 154.5 157.5 159.5 163.2 168.5 172.2 174.2

Oct 84.2 93.0 98.0 101.2 105.1 108.3 109.4 113.8 118.2 123.0 130.7 134.1 137.8 142.2 145.9 150.5 154.9 157.8 159.8 163.6 168.5 171.7 174.9

Nov
114.1 118.3 123.2 130.9 134.4 138.1 142.3 146.0 150.4 155.1 157.8 159.6 163.5 168.6 171.0 174.9

Dec 85.8 94.3 97.8 101.3 105.3 108.7 109.7 114.0 118.5 123.4 130.9 134.3 137.9 142.2 146.1 150.3 155.1 157.3 159.6 163.6 168.4 170.3

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 3.2 1.4 1.5 2.5 2.9 1.1

Source: U.S. Bureau of Labor Statistics @ www.bls.gov
Consumer Price Index for the South

The Consumer Price Index for All Urban Consumers (CPI-U) for the South was unchanged in November, not seasonally adjusted, remaining at a level of 174.9 (198284=100), according to the Bureau of Labor Statistics of the U.S. Department of Labor. For the 12month period ending in November, the CPI-U, South increased 2.3 percent.
The all items index was unchanged last month following an increase of 0.4 percent in October. Over the month, higher costs for private transportation were partially offset by lower costs for household fuels and utilities. Energy costs decreased 1.2 percent. Excluding food and energy, the CPI-U, South rose 0.2 percent over the month.
Over the first eleven months of 2002, consumer prices in the South have increased 2.7 percent, compared

Following is the formula for figuring

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%

to an increase of 1.5 percent recorded over the first eleven months of 2001.
The housing index decreased 0.2 percent in November after decreasing 0.1 percent in October. Costs for shelter rose 0.1 percent, while costs for fuel and utilities dropped 1.7 percent in November.

Apparel costs dropped 0.9 percent in November, the first monthly decrease after a two-month consecutive increase for the index. Since November 2001, apparel costs have dropped 1.8 percent.
The transportation index rose 0.4 percent in November after increasing 1.1 percent in October. Among the indexes included under transportation, costs for new vehicles rose 0.8 percent, while costs for used cars and trucks dropped 1.2 percent. The gasoline index decreased 0.1 percent for November. Despite the most recent decline, over the past year, the gasoline index has increased 24.2 percent.
Costs for medical care rose 0.5 percent in November after increasing 0.7 percent in October. Medical care commodities increased 0.5 percent, while the medical care services index rose 0.6 percent. Over the past year, medical costs in the South have risen 5.1 percent.

Georgia Department of Labor

Metro Atlanta Economic Indicators / January 2003 3

Metro Atlanta Index of Economic Indicators
184.9
Leading indicators Coincident indicators
165.6

146.3

127.1

107.8
1987-88 = 100

88.5

95

96

97

98

99

00

01

02

03

Note: All indicators are seasonally adjusted

Atlanta's Economic Indicators decline in November

The Georgia Department of Labor's Index of Leading Economic Indicators (LEI) for the Atlanta metropolitan area declined 0.4 percent in November, to a level of 161.4 from a revised 162.2 in October, after seasonal adjustment.
After ten months of lackluster performance, the LEI took a dip in November. Permits for single and multifamily homes declined 23.6 percent in November exposing potential weakness in the sector. The strength of residential construction, a strong sector that has lifted the economy, will be a concern as we enter into a new year. Forecasts for single family homes are projected to decline in 2003, partially due to speculative interest rate hikes this summer.
On the other hand, the value of nonresidential construction in November increased 16.5 percent. Initial jobless claims declined 7.6 percent in November.

Recent 12 Months

171.3

Leading Coincident

163.8

156.2

148.7

141.1

1987-88 = 100

133.6

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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 conditions.

4 Metro Atlanta Economic Indicators / January 2003

The Index of Coincident Economic Indicators (CEI) declined 0.8 percent in November, to a level of 143.3 from a revised 144.4, after seasonal adjustment.
Nonfarm employment increased 0.2 percent in November due to job gains in business services, services and manufacturing employment, which are not included in the coincident indicators index. Retail employment, which declined during the third quarter, continued to move lower in November (down 0.4 percent). Metro Atlanta's unemployment rate declined to 4.6 percent, remaining well above the jobless rate (4.1 percent in November 2001) this time last year.
After months of up and down gyrations the coincident indicator ended the month at the same level it started the year. Growth in 2003 will have to come from other sectors (besides housing and autos) in order to sustain the recovery.
Georgia Department of Labor

Data Summary
November 2002 Data

Metro Atlanta Economic Indicators

Nov 2002

Oct 2002

Nov 2001

Percent Percent Change Change

Oct 2002 Nov 2001

to

to

Nov 2002 Nov 2002

Nonagricultural Employment

2,130,576

Wholesale Employment

158,677

Retail Employment

374,716

Services Employment

691,334

Manufacturing Employment

205,510

Government Employment

280,703

Construction Employment

102,961

Transp. & Pub. Utilities Employment

176,545

Finance, Insurance & Realty Employment

138,872

Business Services Employment

219,051

Health Services Employment

136,144

Social Services Employment

36,768

Manufacturing Workweek

38.5

Manufacturing Earnings

$542.14

Deflated Manufacturing Earnings

$299.03

Initial Unemployment Claims

13,161

Continued Unemployment Claims

149,520

Total Unemployment Rate ( not seasonally adjusted ) 4.6%

Insured Unemployment Rate

1.83%

MARTA Passengers

NA

Cobb County Transit Passengers

191,583

Residential Construction (household units)

4,487

Nonresidential Construction (value)

$322,078,000

Deflated Nonresidential Construction

$177,649

Hotel Occupancy

54.8%

Average Hotel Room Rates

$74.94

Deflated Average Hotel Room Rate

$41.33

Average 30-Year Fixed Mortgage Rate

6.05%

Average 15-Year Fixed Mortgage Rate

5.44%

Average One-Year Adjustable Mortgage Rate

3.76%

Georgia Department of Labor

2,126,001 158,812 376,405 685,513 203,686 279,990 105,234 176,524 138,923 213,275 137,478 36,556 39.5 $553.80 $305.46 14,257 162,246 4.9% 1.83% NA 197,598 5,877
$276,428,000 $152,470 58.6% $77.39 $42.68 6.16% 5.55% 4.05%

2,160,248 167,416 394,349 670,195 207,678 275,806 118,467 183,492 141,056 204,182 131,142 33,895 38.9 $543.04 $306.11 17,429 164,254 4.1% 2.01%
5,916,000 193,266 4,686
$450,041,000 $253,687 56.0% $74.70 $42.11 6.72% 6.24% 5.05%

0.22 -0.08 -0.45 0.85 0.90 0.25 -2.16 0.01 -0.04 2.71 -0.97 0.58 -2.63 -2.11 -2.11 -7.69 -7.84
NA -3.04 -23.66 16.51 16.51 -3.16 -3.16 -

-1.37 -5.22 -4.98 3.15 -1.04 1.78 -13.09 -3.79 -1.55 7.28 3.81 8.48 -1.00 -0.17 -2.31 -24.49 -8.97
NA -0.87 -4.24 -28.43 -29.97 0.32 -1.84 -

Metro Atlanta Economic Indicators / January 2003 5

Nonagricultural Employment

2.24

2000-2001

2001-2002

MILLIONS

2.21

Monthly Data
Seasonally Adjusted

Month 2000-2001 2001-2002 2.18

2.15 2.12 2.09

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

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 2,137,649 2,138,795 2,135,751 2,150,376 2,144,392 2,140,818 2,131,447 2,127,029 2,124,536 2,126,001 2,130,576

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Wholesale Employment

179.7 174.1

2000-2001

2001-2002

Monthly Data
Seasonally Adjusted

THOUSANDS

Month 2000-2001 2001-2002

168.6 Dec

Jan

Feb

163.1

M ar

Apr

M ay

Jun

157.6

Jul

Aug

Sep

Oct

152.1

Nov

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N

169,761 170,504 169,542 169,720 169,364 168,736 169,520 170,210 167,889 168,089 168,062 167,416

162,368 163,076 160,916 158,105 159,949 159,030 158,037 158,821 157,718 160,102 158,812 158,677

Retail Employment
411.0 2000-2001

2001-2002

402.5

Monthly Data
Seasonally Adjusted

394.0

Month

2000-2001 2001-2002

THOUSANDS

Dec

Jan

Feb

385.5

M ar

Apr

M ay

Jun

377.0

Jul

Aug

Sep Oct

368.5

Nov

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N

398,610 398,320 398,616 400,920 401,984 401,803 401,290 396,967 396,531 395,769 395,528 394,349

395,442 386,814 383,758 385,735 390,801 386,119 382,918 384,831 382,883 382,030 376,405 374,716

6 Metro Atlanta Economic Indicators / January 2003

Georgia Department of Labor

Services Employment
706.0
2000-2001

2001-2002

694.9

Monthly Data
Seasonally Adjusted

THOUSANDS

683.8 672.8 661.7 650.6

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

2000-2001
690,858 687,922 687,678 688,722 693,171 689,963 688,556 688,432 685,960 681,110 681,820 670,195

2001-2002
663,531 662,269 667,703 672,940 680,212 680,261 683,179 680,559 683,544 681,045 685,513 691,334

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Manufacturing Employment

223.7

2000-2001

2001-2002

218.2

Monthly Data
Seasonally Adjusted

THOUSANDS

Month

2000-2001

2001-2002

212.7

207.2

Dec

218,388

208,484

Jan

215,961

212,496

Feb

216,332

212,370

M ar

215,752

207,679

Apr

213,394

210,328

201.7

M ay Jun Jul Aug Sep

211,695 211,596 210,996 210,224 210,013

212,331 211,911 207,807 207,441 204,829

196.2

Oct

210,737

203,686

Nov

207,678

205,510

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Government Employment

289.1

2000-2001

2001-2002

THOUSANDS

283.1

Monthly Data
Seasonally Adjusted

277.1

Month 2000-2001

2001-2002

Dec

267,421

277,667

271.1 265.1

Jan Feb M ar Apr M ay Jun Jul Aug Sep

270,538 272,243 272,965 272,995 272,817 272,967 270,500 268,116 273,845

276,408 276,737 277,134 276,982 276,579 273,836 270,847 272,294 277,767

259.1

Oct

274,057

279,990

Nov

275,806

280,703

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Georgia Department of Labor

Metro Atlanta Economic Indicators / January 2003

7

Construction Employment

130.5

2000-2001

2001-2002

THOUSANDS

123.4

Monthly Data
Seasonally Adjusted

116.3 109.2 102.1
95.0

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

2000-2001
119,098 119,720 120,093 120,265 122,183 121,631 122,045 120,752 122,476 121,443 123,625 118,467

2001-2002
114,719 114,884 115,255 112,918 113,142 111,847 111,814 107,385 103,528 101,779 105,234 102,961

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Transportation and Public Utilities Employment

203.0

2000-2001

2001-2002

196.3

Monthly Data
Seasonally Adjusted

THOUSANDS

189.6

Month 2000-2001 2001-2002

182.9 176.2 169.5

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

196,488 193,645 192,909 193,073 194,821 194,625 194,442 192,674 193,229 191,284 187,871 183,492

181,429 179,208 177,463 177,345 176,788 178,310 178,945 179,123 180,145 178,246 176,524 176,545

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Finance, Insurance and Realty Employment

145.9

2000-2001

2001-2002

144.1

Monthly Data
Seasonally Adjusted

THOUSANDS

142.3

Month 2000-2001 2001-2002

Dec

141,060

140,207

Jan

141,392

140,850

140.5

Feb M ar Apr M ay

141,711 142,343 143,418 143,536

142,382 142,397 140,331 139,531

138.8

Jun

143,978

140,070

Jul

142,551

139,164

Aug

142,019

138,537

Sep

141,658

138,880

Oct

142,105

138,923

137.0

Nov

141,056

138,872

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8 Metro Atlanta Economic Indicators / January 2003

Georgia Department of Labor

Business Services Employment
252.1

2000-2001

2001-2002

240.0

Monthly Data
Seasonally Adjusted

THOUSANDS

228.0

Month Dec

2000-2001
237,132

2001-2002
204,204

Jan

231,751

202,527

Feb

229,301

204,004

215.9 203.8

M ar Apr M ay Jun Jul Aug Sep

229,264 226,603 225,539 222,177 223,289 222,957 220,140

206,958 210,704 211,345 210,759 207,776 212,847 211,806

191.8

Oct

216,269

213,275

Nov

204,182

219,051

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Health Services Employment

145.6

2000-2001

2001-2002

THOUSANDS

140.6

Monthly Data
Seasonally Adjusted

135.6

Month 2000-2001 2001-2002

Dec

126,414

131,098

Jan

125,934

130,877

130.6

Feb M ar Apr M ay

126,943 127,363 128,711 129,493

133,077 132,974 134,092 133,191

125.6

Jun

130,653

134,828

Jul

130,221

135,523

Aug

129,892

135,690

Sep

130,478

136,111

Oct

132,458

137,478

120.6

Nov

131,142

136,144

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Social Services Employment

39.6

2000-2001

2001-2002

37.6

35.6

THOUSANDS

33.6

31.6

29.6

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Georgia Department of Labor

Monthly Data
Seasonally Adjusted

Month 2000-2001 2001-2002

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

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 34,620 34,550 34,644 34,711 35,489 35,314 36,012 36,180 36,080 36,556 36,768

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Metro Atlanta Economic Indicators / January 2003

9

Manufacturing Workweek

41.7

2000-2001

2001-2002

HOURS

40.7

Monthly Data
Seasonally Adjusted

39.7 38.7 37.8 36.8

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

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Manufacturing Earnings

$619

2000-2001

2001-2002

2000-2001
39.0 39.1 38.9 38.9 38.4 39.6 40.1 38.8 39.6 39.8 38.6 38.9

2001-2002
38.9 38.9 39.3 40.3 39.2 39.1 40.6 38.5 38.9 39.4 39.5 38.5

DOLLARS

$596

Monthly Data
Seasonally Adjusted

$574

Month

2000-2001

2001-2002

$552 $529 $507

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

$552.40 550.79 553.01 551.74 541.22 561.95 575.65 555.90 561.00 569.47 544.90 543.04

$559.84 552.14 578.59 580.85 556.57 561.44 593.45 550.87 547.56 561.26 553.80 542.14

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Deflated Manufacturing Earnings

$345

2000-2001

2001-2002

$332

Monthly Data
Seasonally Adjusted

DOLLARS

$319

Month
Dec Jan Feb

2000-2001
$317.47 314.56 314.57

2001-2002
$316.83 311.77 325.42

$305 $292 $279

M ar Apr M ay Jun Jul Aug Sep Oct Nov

313.13 305.95 316.23 323.40 313.18 316.06 319.39 306.64 306.11

324.86 309.55 312.26 329.88 305.87 303.02 310.09 305.46 299.03

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10 Metro Atlanta Economic Indicators / January 2003

Georgia Department of Labor

Initial Unemployment Claims

25.8

2000-2001

2001-2002

THOUSANDS

21.0

Monthly Data
Seasonally Adjusted

16.2

Month
Dec Jan Feb

2000-2001
8,228 11,539 10,223

2001-2002
13,885 14,616 12,464

11.5

M ar Apr M ay

10,221 10,910 11,798

13,598 14,740 15,425

Jun

10,967

13,081

6.7

Jul

11,834

12,510

Aug

13,049

12,839

Sep

12,523

13,455

Oct

19,180

14,257

1.9

Nov

17,429

13,161

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Continued Unemployment Claims

277.0

2000-2001

2001-2002

THOUSANDS

221.6

Monthly Data
Seasonally Adjusted

166.2

Month

2000-2001 2001-2002

Dec

61,431

189,033

Jan

78,839

166,026

110.8 55.4

Feb M ar Apr M ay Jun Jul Aug

80,310 76,932 110,332 104,108 109,620 124,874 123,371

181,110 168,001 219,796 177,935 167,583 172,590 152,519

Sep

131,061

192,508

Oct

190,425

162,246

0.0

Nov

164,254

149,520

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Total Unemployment Rate

6.4

2000-2001

2001-2002

5.4

Monthly Data

Not Seasonally Adjusted

PERCENTAGES

Month

4.5 Dec

Jan

Feb

3.6

Mar

Apr

May

Jun

2.6

Jul

Aug

Sep

Oct

1.7

Nov

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2000-2001
2.6 % 2.9 3.1 3.0 2.8 3.0 3.7 3.6 3.6 3.8 4.1 4.1

2001-2002
4.2 % 4.4 4.7 4.7 4.4 4.7 5.4 5.1 4.9 5.1 4.9 4.6

Georgia Department of Labor

Metro Atlanta Economic Indicators / January 2003

11

iInsured Unemployment Rate
2.6

2000-2001

2001-2002

2.1

PERCENTAGES

1.6

1.1

0.6

0.0

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MMARTA Passengers

7.4

2000-2001

2001-2002

6.9

6.4

MILLIONS

5.8

5.3

4.8

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Cobb Community Transit Passengers

223.9

2000-2001

2001-2002

197.2

170.5

THOUSANDS

143.9

117.2

90.6

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12 Metro Atlanta Economic Indicators / January 2003

Monthly Data
Seasonally Adjusted

Month

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

J

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N

2000-2001
0.78 % 0.82 0.88 0.93 1.02 1.13 1.23 1.35 1.44 1.68 1.75 2.01

2001-2002
1.99 % 2.00 2.02 2.06 2.07 2.00 1.93 1.85 1.75 1.81 1.83 1.83

Monthly Data
Seasonally Adjusted

Month

2000-2001

Dec

Jan

Feb

M ar

Apr

M ay

Jun

Jul

Aug

current data not available

Sep

Oct

Nov

J

A

S

O

N

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

2001-2002
5,760,000 5,645,000 5,621,000 5,408,000 5,861,000 5,784,000
NA NA NA NA NA NA

Monthly Data
Seasonally Adjusted

Month

2000-2001 2001-2002

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

123,707 141,285 130,075 174,076 147,888 168,529 177,233 176,523 189,661 173,058 187,596 193,266

172,187 186,592 170,281 165,386 172,867 168,728 164,431 178,617 185,072 178,318 197,598 191,583

J

ASON

Georgia Department of Labor

Residential Construction
7.5 2000-2001

2001-2002

6.6

Monthly Data

Seasonally Adjusted

HOUSEHOLD UNITS ( THOUSANDS )

Month

5.8

Dec

Jan

Feb

4.9

M ar

Apr

M ay

Jun

4.1

Jul

Aug

Sep

Oct

3.2

Nov

D

J

F

M

A

M

J

J

A

S

O

N

Nonresidential Construction

$645

2000-2001

2001-2002

2000-2001
5,011 5,949 6,144 5,089 5,201 5,799 6,447 5,390 5,358 4,915 4,939 4,686

2001-2002
4,826 5,226 5,070 5,286 5,787 6,360 5,816 5,763 4,362 5,445 5,877 4,487

MILLIONS

$518

Monthly Data
Seasonally Adjusted

$391

Month 2000-2001 2001-2002

$264 $137
$10

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

$343,026,000 354,911,000 324,993,000 315,487,000 430,876,000 312,898,000 299,961,000 351,753,000 306,256,000 326,715,000 347,295,000 450,041,000

$186,475,000 332,767,000 347,867,000 170,535,000 314,321,000 221,446,000 354,182,000 292,381,000 206,251,000 341,426,000 276,428,000 322,078,000

D

J

F

MAMJ

J

A

SON

Deflated Nonresidential Construction

$360

2000-2001

2001-2002

$289

Monthly Data
Seasonally Adjusted

MILLIONS

$218

Month 2000-2001 2001-2002

Dec

$197,141,000 $105,532,000

Jan

202,690,000

187,898,000

$148

Feb M ar Apr M ay

184,865,000 179,051,000 243,570,000 176,082,000

195,651,000 95,378,000
174,817,000 123,162,000

$77

Jun

168,517,000

196,877,000

Jul

198,171,000

162,344,000

Aug

172,539,000

114,140,000

Sep

183,239,000

188,633,000

Oct

195,439,000

152,470,000

$6

Nov

253,687,000

177,649,000

D

J

F MAM

J

J

A

SON

Georgia Department of Labor

Metro Atlanta Economic Indicators / January 2003

13

Hotel Occupancy
75
2000-2001

2001-2002

69

Monthly Data

Seasonally Adjusted

PERCENTAGES

Month

2000-2001 2001-2002

63

Dec

60.70 %

55.29 %

Jan

65.05

59.85

Feb

64.85

59.54

56

M ar

66.92

61.04

Apr

63.47

61.54

M ay

64.03

57.71

Jun

65.04

58.23

50

Jul

61.16

60.92

Aug

63.66

60.08

Sep

51.34

53.08

Oct

58.12

58.63

44

Nov

55.98

54.76

D

J

F

M

A

M

J

J

A

S

O

N

Average Hotel Room Rates

$89

2000-2001

2001-2002

DOLLARS

$84

Monthly Data

Seasonally Adjusted

Month $80

Dec Jan

Feb

$76

M ar

Apr

M ay

Jun

$71

Jul

Aug

Sep

Oct

$67

Nov

D

J

F MAMJ

J

A

S

O

N

Deflated Average Hotel Room Rates

$51

2000-2001

2001-2002

2000-2001 2001-2002

$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 75.67 81.37 79.05 77.18 77.34 76.33 76.25 74.79 77.39 74.94

$49

Monthly Data

Seasonally Adjusted

DOLLARS

Month $46

Dec

Jan

Feb

$43

M ar

Apr

M ay

Jun

$40

Jul

Aug

Sep

Oct

$37

Nov

D

J

F

M

A

M

J

J

A

S

O

N

2000-2001
$43.53 47.13 45.89 46.15 44.59 45.82 45.66 43.60 44.78 40.39 44.18 42.11

2001-2002
$41.61 43.93 42.56 45.51 43.96 42.93 42.99 42.38 42.20 41.32 42.68 41.33

14 Metro Atlanta Economic Indicators / January 2003

Georgia Department of Labor

Average 30-Year Fixed Mortgage Rate*
8.02

2000-2001

2001-2002

7.52

PERCENTAGES

7.02

6.52

6.02

5.52

D

J

F

M

A

M

J

Average 15-Year Fixed Mortgage Rate*

7.70

2000-2001

2001-2002

Monthly Data
Not Seasonally Adjusted

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

J

A

S

O

N

* Does not include points

2000-2001
7.45 % 7.17 7.13 7.02 7.11 7.22 7.22 7.18 7.01 6.82 6.62 6.72

2001-2002
7.17 % 7.03 6.85 7.00 6.96 6.77 6.60 6.44 6.27 6.16 6.16 6.05

7.08

PERCENTAGES

6.46

5.84

5.22

4.60

D

J

F

M

A

M

J

J

A

S

O

N

* Does not include points
Average One-Year Adjustable Mortgage Rate*

8.61

2000-2001

2001-2002

Monthly Data
Not Seasonally Adjusted

Month

2000-2001

Dec

7.09 %

Jan

6.74

Feb

6.73

M ar

6.59

Apr

6.62

M ay

6.70

Jun

6.77

Jul

6.73

Aug

6.53

Sep

6.35

Oct

6.15

Nov

6.24

2001-2002
6.65 % 6.52 6.37 6.55 6.49 6.29 6.11 5.94 5.75 5.58 5.55 5.44

7.43

Monthly Data
Not Seasonally Adjusted

PERCENTAGES

6.25 5.07 3.89 2.71

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

D

J

F

M

A

M

J

J

A

S

O

N

* Does not include points

2000-2001
6.92 % 6.50 6.22 6.00 5.83 5.79 5.71 5.67 5.57 5.38 5.05 5.05

2001-2002
5.26 % 4.99 4.84 4.98 4.92 4.67 4.29 4.05 3.99 4.20 4.05 3.76

Georgia Department of Labor

Metro Atlanta Economic Indicators / January 2003 15

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