A T L A N TA METROPOLITAN Economic Indicators A Monthly Report of Atlanta Labor Market and Economic Trends February 2003 Volume 5, Issue 12 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 12 February 2003 December 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 / February 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 / February 2003 Georgia Department of Labor Consumer Price Index for Atlanta 1978 1979 1980 1981 1982 1983 1984 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Rate 61.7 62.5 63.6 64.7 65.9 65.9 7.7 66.9 68.5 70.5 71.9 73.2 74 12.3 76.4 78 80.3 81.7 83 85.7 15.8 87.2 88.2 89.3 91.6 93.3 93.6 9.2 92.8 92.9 96.5 98 98.8 98.2 4.9 97.9 98.7 100.2 100.8 100.9 101.9 3.8 102.6 103.2 104.1 104.8 105.4 105.5 3.5 1985 107 107.6 108.8 109.9 110.4 111.2 5.4 1986 1987 1988 1989 111.7 111.1 112.2 115.5 119.1 124.9 112.4 112.7 113.5 2.1 117.5 3.5 121.7 3.6 127.3 4.6 1990 1991 130.8 135.5 132.6 4.2 136.2 2.7 1992 1993 138.6 142.2 138.5 1.7 144.7 4.5 1994 1995 146.7 150.3 146.7 1.4 151.5 3.3 1996 1997 154.7 158.3 157.2 3.8 159.5 1.5 1998 1999 159.5 161.9 160.8 164 162 164.8 161.9 165.9 162 166.5 161.6 1.4 167 3.3 2000 2001 167.4 175.3 169.8 176.6 170.9 177.8 172.1 176.9 171.9 176.7 171.9 2.9 174.8 1.7 2002 176.1 178.6 179.1 179.7 179.4 178.2 1.4 Source: U.S. Bureau of Labor Statistics @ www.bls.gov Atlanta's CPI increases 1.4 percent on 2002 The Consumer Price Index for All Urban Consumers (CPIU) for Atlanta decreased 1.2 percent over the two months ending in December to a level of 177.3 (1982-84=100), not seasonally adjusted, reported by the Bureau of Labor Statistics of the U.S. Department of Labor. For the 12-month period ending in December, the CPI-U for Atlanta increased 1.4 percent. For the 12 months ending in December 2002, prices in Atlanta have increased 1.4 percent compared to the 1.7 percent annual increase recorded in calendar year 2001. The increase was the smallest calendar year increase in consumer prices in the Atlanta area since 1998. Housing costs dropped 0.9 percent over the two months after registering a 2.1 percent decline in 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% the September-October pricing period. Costs for shelter decreased 0.6 percent while costs for fuels and utilities climbed 0.9 percent. The rise in the fuel and utilities index reflected a 4.6 percent increase in costs for utility natural gas service and a 0.8 percent decline in the costs for electricity. For the 12 months ending in December, housing costs increased 0.2 percent. Apparel costs experienced their largest two-month decline recorded in the index, dropping 9.4 percent. The decline occurred after a 7.7 percent increase recorded in the SeptemberOctober pricing period. The index, which is subject to large fluctuations, registered an overall 0.3 percent decline in calendar year 2002. Transportation costs dropped 1.6 percent, after increasing 0.6 percent during the previous pricing period. The decline was attributable to an 8.0 percent drop in the cost of gasoline. Transportation costs in the Atlanta area stand 4.3 percent above the level recorded in December 2001. The medical care index recorded no change after increasing 6.9 percent in the September-October pricing period. For calendar year 2002, the medical care index rose 12.1 percent. Georgia Department of Labor Metro Atlanta Economic Indicators / February 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 economy continues to turn around slowly The Georgia Department of Labor's Index of Leading Economic Indicators (LEI) for the Atlanta metropolitan area increased 0.3 percent in December, to a level of 162.5 from a revised 161.9 in November, after seasonal adjustment. The leading index increased in December following two months of decline. In 2002, the index increased half of the months with only one stretch of three consecutive monthly increases. During the month of December initial jobless claims increased 9.6 percent. Strong demand for starter homes continued to fuel the need for more residential construction (up 11.2 percent in December) as more renters transitioned into the housing market. Activity in the commercial construction sector declined 12.3 percent after posting a double digit increase in November. The manufacturing workweek increased 0.6 percent but still remains under 40 hours. Recent 12 Months 171.3 Leading Coincident 163.8 156.2 148.7 141.1 1987-88 = 100 133.6 J FM AM J JA S OND 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. The Index of Coincident Economic Indicators (CEI) declined 2.3 percent in December, to a level of 140.6 from a revised 144.0, after seasonal adjustment. The coincident index declined 2.0 percent in 2002, a vast improvement from the perious year when the index plunged 11.8percent.The CEIindex increased halfoftheyearanddeclinedtheother half. During the mild holiday season nonfarm employment declined 0.2 percent in December.Retailemploymentfollowedsuitbydeclining0.4percent. The unemployment rate in the metro area increasedto4.7percent. Thiensured unemployment rate increased from 1.83 to 1.88 percent. The economy may not be back to normal but the economic backdrop continuestoturnaroundslowly.Localeconomistslookformorepersistentgrowthtowards the end of 2003. 4 Metro Atlanta Economic Indicators / February 2003 Georgia Department of Labor Data Summary December 2002 Data Metro Atlanta Economic Indicators Dec 2002 Nov 2002 Dec 2001 Percent Percent Change Change Nov 2002 Dec 2001 to to Dec 2002 Dec 2002 Nonagricultural Employment 2,124,767 Wholesale Employment 159,719 Retail Employment 374,653 Services Employment 687,360 Manufacturing Employment 201,947 Government Employment 279,772 Construction Employment 104,419 Transp. & Pub. Utilities Employment 175,886 Finance, Insurance & Realty Employment 138,134 Business Services Employment 218,183 Health Services Employment 136,945 Social Services Employment 36,561 Manufacturing Workweek 39.2 Manufacturing Earnings $560.40 Deflated Manufacturing Earnings $309.78 Initial Unemployment Claims 14,435 Continued Unemployment Claims 174,931 Total Unemployment Rate ( not seasonally adjusted ) 4.7% Insured Unemployment Rate 1.88% MARTA Passengers 5,502,000 Cobb County Transit Passengers 183,420 Residential Construction (household units) 4,991 Nonresidential Construction (value) $282,435,000 Deflated Nonresidential Construction $156,128 Hotel Occupancy 55.5% Average Hotel Room Rates $75.76 Deflated Average Hotel Room Rate $41.88 Average 30-Year Fixed Mortgage Rate 6.00% Average 15-Year Fixed Mortgage Rate 5.40% Average One-Year Adjustable Mortgage Rate 3.63% Georgia Department of Labor 2,130,576 158,577 376,484 691,832 203,220 280,802 103,160 176,545 138,972 218,558 136,343 36,867 39.0 $547.98 $302.25 13,161 149,520 4.6% 1.83% 5,261,000 191,583 4,487 $322,078,000 $177,649 54.8% $74.94 $41.33 6.05% 5.44% 3.76% 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% 5,754,000 172,187 4,826 $186,475,000 $105,532 55.3% $73.52 $41.61 7.17% 6.65% 5.26% -0.27 0.72 -0.49 -0.65 -0.63 -0.37 1.22 -0.37 -0.60 -0.17 0.44 -0.83 0.68 2.27 2.49 9.68 17.00 4.58 -4.26 11.24 -12.31 -12.11 1.10 1.32 - -1.06 -1.63 -5.26 3.59 -3.14 0.76 -8.98 -3.05 -1.48 6.85 4.46 8.32 0.77 0.10 -2.22 3.96 -7.46 -4.38 6.52 3.43 51.46 47.94 3.05 0.66 - Metro Atlanta Economic Indicators / February 2003 5 Nonagricultural Employment 2.24 2001 2002 2.21 2.18 2.15 2.12 2.09 J FMA M J J A Wholesale Employment 179.7 2001 2002 174.1 168.6 163.1 157.6 152.1 J F MA M J J A Retail Employment 411.0 2001 2002 402.5 394.0 385.5 377.0 368.5 J F MA M J J A 6 Metro Atlanta Economic Indicators / February 2003 Monthly Data Seasonally Adjusted Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec S O N D 2001 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 2002 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 2,124,767 SO Monthly Data Seasonally Adjusted Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec ND 2001 170,504 169,542 169,720 169,364 168,736 169,520 170,210 167,889 168,089 168,062 167,416 162,368 2002 163,076 160,916 158,105 159,949 159,030 158,037 158,821 157,718 160,102 158,812 158,577 159,719 Monthly Data Seasonally Adjusted Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2001 398,320 398,616 400,920 401,984 401,803 401,290 396,967 396,531 395,769 395,528 394,349 395,442 2002 386,814 383,758 385,735 390,801 386,119 382,918 384,831 382,883 382,030 376,405 376,484 374,653 S O N D Georgia Department of Labor Services Employment 706.0 2001 2002 694.9 683.8 672.8 661.7 650.6 J F MA M J Manufacturing Employment 223.7 2001 2002 218.2 212.7 207.2 201.7 196.2 J FMA Government Employment 289.1 2001 M J 2002 283.1 277.1 271.1 265.1 259.1 J FMA MJ Georgia Department of Labor J A J A J A Monthly Data Seasonally Adjusted Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec S O N D 2001 687,922 687,678 688,722 693,171 689,963 688,556 688,432 685,960 681,110 681,820 670,195 663,531 2002 662,269 667,703 672,940 680,212 680,261 683,179 680,559 683,544 681,045 685,513 691,832 687,360 Monthly Data Seasonally Adjusted Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec S O N D 2001 215,961 216,332 215,752 213,394 211,695 211,596 210,996 210,224 210,013 210,737 207,678 208,484 2002 212,496 212,370 207,679 210,328 212,331 211,911 207,807 207,441 204,829 203,686 203,220 201,947 Monthly Data Seasonally Adjusted Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec S O N D 2001 270,538 272,243 272,965 272,995 272,817 272,967 270,500 268,116 273,845 274,057 275,806 277,667 2002 276,408 276,737 277,134 276,982 276,579 273,836 270,847 272,294 277,767 279,990 280,802 279,772 Metro Atlanta Economic Indicators / February 2003 7 Construction Employment 130.5 2001 2002 123.4 Monthly Data Seasonally Adjusted 116.3 109.2 102.1 95.0 Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec J F MA M J J A SO N D Transportation and Public Utilities Employment 203.0 2001 2002 2001 119,720 120,093 120,265 122,183 121,631 122,045 120,752 122,476 121,443 123,625 118,467 114,719 2002 114,884 115,255 112,918 113,142 111,847 111,814 107,385 103,528 101,779 105,234 103,160 104,419 196.3 Monthly Data Seasonally Adjusted 189.6 Month Jan Feb Mar 182.9 Apr May Jun Jul 176.2 Aug Sep Oct Nov 169.5 Dec J F M A M J J A S O N D 2001 193,645 192,909 193,073 194,821 194,625 194,442 192,674 193,229 191,284 187,871 183,492 181,429 Finance, Insurance and Realty Employment 145.9 2001 2002 2002 179,208 177,463 177,345 176,788 178,310 178,945 179,123 180,145 178,246 176,524 176,545 175,886 144.1 Monthly Data Seasonally Adjusted 142.3 Month 2001 2002 140.5 138.8 137.0 Jan 141,392 140,850 Feb 141,711 142,382 Mar 142,343 142,397 Apr 143,418 140,331 May 143,536 139,531 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 Nov 141,056 138,972 Dec 140,207 138,134 J F MA M J J A S O N D 8 Metro Atlanta Economic Indicators / February 2003 Georgia Department of Labor Business Services Employment 252.1 2001 2002 240.0 228.0 215.9 203.8 191.8 J F MA M J Health Services Employment 145.6 2001 2002 140.6 135.6 130.6 125.6 120.6 J FMA M J Social Services Employment 39.6 2001 2002 37.6 35.6 33.6 31.6 29.6 J F MA M J Georgia Department of Labor J A J A J A Monthly Data Seasonally Adjusted Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec S O N D 2001 231,751 229,301 229,264 226,603 225,539 222,177 223,289 222,957 220,140 216,269 204,182 204,204 2002 202,527 204,004 206,958 210,704 211,345 210,759 207,776 212,847 211,806 213,275 218,558 218,183 Monthly Data Seasonally Adjusted Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec S O N D 2001 125,934 126,943 127,363 128,711 129,493 130,653 130,221 129,892 130,478 132,458 131,142 131,098 2002 130,877 133,077 132,974 134,092 133,191 134,828 135,523 135,690 136,111 137,478 136,343 136,945 Monthly Data Seasonally Adjusted Month 2001 2002 Jan 32,180 34,620 Feb 32,164 34,550 Mar 32,188 34,644 Apr 32,128 34,711 May 32,021 35,489 Jun 31,950 35,314 Jul 32,622 36,012 Aug 32,100 36,180 Sep 32,960 36,080 Oct 33,386 36,556 Nov 33,895 36,867 Dec 33,752 36,561 SO ND Metro Atlanta Economic Indicators / February 2003 9 Manufacturing Workweek 41.7 2001 2002 40.7 39.7 38.7 37.8 36.8 J F M A Manufacturing Earnings $619 2001 M J 2002 J A Monthly Data Seasonally Adjusted Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec S O N D 2001 39.1 38.9 38.9 38.4 39.6 40.1 38.8 39.6 39.8 38.6 38.9 38.9 2002 38.9 39.3 40.3 39.2 39.1 40.6 38.5 38.9 39.4 39.5 39 39.2 $596 $574 $552 $529 $507 J F M A M J Deflated Manufacturing Earnings $345 2001 2002 JA S O Monthly Data Seasonally Adjusted Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec N D 2001 $550.79 553.01 551.74 541.22 561.95 575.65 555.9 561 569.47 544.9 543.04 559.84 2002 $552.14 578.59 580.85 556.57 561.44 593.45 550.87 547.56 561.26 553.8 547.98 560.4 $332 $319 $305 $292 $279 J F M A M J JA 10 Metro Atlanta Economic Indicators / February 2003 Monthly Data Seasonally Adjusted Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2001 $314.56 314.57 313.13 305.95 316.23 323.4 313.18 316.06 319.39 306.64 306.11 316.83 2002 $311.77 325.42 324.86 309.55 312.26 329.88 305.87 303.02 310.09 305.46 302.25 309.78 S O N D Georgia Department of Labor Initial Unemployment Claims 25.8 2001 2002 21.0 16.2 11.5 6.7 1.9 J F MA M J Continued Unemployment Claims 277.0 2001 2002 221.6 166.2 110.8 55.4 0.0 J F M A M J Total Unemployment Rate 6.4 2001 2002 5.4 4.5 3.6 2.6 1.7 J F MA M J Georgia Department of Labor J A JA JA Monthly Data Seasonally Adjusted Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec S O N D 2001 11,539 10,223 10,221 10,910 11,798 10,967 11,834 13,049 12,523 19,180 17,429 13,885 2002 14,616 12,464 13,598 14,740 15,425 13,081 12,510 12,839 13,455 14,257 13,161 14,435 Monthly Data Seasonally Adjusted Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec SO N D 2001 78,839 80,310 76,932 110,332 104,108 109,620 124,874 123,371 131,061 190,425 164,254 189,033 2002 166,026 181,110 168,001 219,796 177,935 167,583 172,590 152,519 192,508 162,246 149,520 174,931 Monthly Data Not Seasonally Adjusted Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2001 2.9 % 3.1 3 2.8 3 3.7 3.6 3.6 3.8 4.1 4.1 4.2 2002 4.4 % 4.7 4.7 4.4 4.7 5.4 5.1 4.9 5.1 4.9 4.6 4.7 S O N D Metro Atlanta Economic Indicators / February 2003 11 iInsured Unemployment Rate 2.6 2001 2002 2.1 Monthly Data Seasonally Adjusted 1.6 Month Jan Feb Mar 1.1 Apr May Jun Jul 0.6 Aug Sep Oct Nov 0.0 Dec J F M A M J J A S O N D MMARTA Passengers 2001 0.82 % 0.88 0.93 1.02 1.13 1.23 1.35 1.44 1.68 1.75 2.01 1.99 7.4 2001 2002 2002 2% 2.02 2.06 2.07 2 1.93 1.85 1.75 1.81 1.83 1.83 1.88 6.9 Monthly Data Seasonally Adjusted 6.4 Month Jan Feb Mar 5.8 Apr May Jun Jul 5.3 Aug Sep Oct Nov 4.8 Dec J F M A M J J A S O N D 2001 6,600,000 6,228,000 6,378,000 6,335,000 6,572,000 6,512,000 5,496,000 6,206,000 5,974,000 6,034,000 5,914,000 5,754,000 Cobb Community Transit Passengers 223.9 2001 2002 2002 5,649,000 5,600,000 5,403,000 5,850,000 5,788,000 5,343,000 5,023,000 5,701,000 5,505,000 5,599,000 5,261,000 5,502,000 197.2 170.5 143.9 117.2 90.6 J F MA M J JA 12 Metro Atlanta Economic Indicators / February 2003 SO Monthly Data Seasonally Adjusted Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2001 141,285 130,075 174,076 147,888 168,529 177,233 176,523 189,661 173,058 187,596 193,266 172,187 2002 186,592 170,281 165,386 172,867 168,728 164,431 178,617 185,072 178,318 197,598 191,583 183,420 ND Georgia Department of Labor Residential Construction 7.5 2001 2002 6.6 Monthly Data Seasonally Adjusted 5.8 Month J F M 4.9 A M J J 4.1 A S O N 3.2 D J F M A M J J A S O N D Nonresidential Construction $645 2001 2002 2001 5.949 6.144 5.089 5.201 5.799 6.447 5.390 5.358 4.915 4.939 4.686 4.826 $518 Monthly Data Seasonally Adjusted $391 Month J F M $264 A M J J $137 A S O N $10 D J F MA M J J A S O N D 2001 $343 355 325 315 431 313 300 352 306 327 347 450 Deflated Nonresidential Construction $360 2001 2002 2002 5.226 5.070 5.286 5.787 6.360 5.816 5.763 4.362 5.445 5.877 4.487 4.991 2002 $186 333 348 171 314 221 354 292 206 341 276 322 $289 $218 $148 $77 $6 J F MA M J Georgia Department of Labor J A Monthly Data Seasonally Adjusted Month 2001 2002 J $203 $188 F 185 196 M 179 95 A 244 175 M 176 123 J 169 197 J 198 162 A 173 114 S 183 189 O 195 152 N 254 178 D 106 156 S O N D Metro Atlanta Economic Indicators / February 2003 13 Hotel Occupancy 75 2001 2002 69 63 56 50 44 J F MA M J Average Hotel Room Rates $89 2001 2002 JA SO Monthly Data Seasonally Adjusted Month J F M A M J J A S O N D ND 2001 65.05 % 64.85 66.92 63.47 64.03 65.04 61.16 63.66 51.34 58.12 55.98 55.29 2002 59.85% 59.54 61.04 61.54 57.71 58.23 60.92 60.08 53.08 58.63 54.76 55.53 $84 Monthly Data Seasonally Adjusted $80 Month J F M $76 A M J J $71 A S O N $67 D J FMA M J J A S O N D Deflated Average Hotel Room Rates 2001 $82.53 80.68 81.33 78.87 81.42 81.28 77.39 79.49 72.01 78.51 74.7 73.52 $51 2001 2002 2002 $77.81 75.67 81.37 79.05 77.18 77.34 76.33 76.25 74.79 77.39 74.94 75.76 $49 $46 $43 $40 $37 J F MA M J J A 14 Metro Atlanta Economic Indicators / February 2003 SON Monthly Data Seasonally Adjusted Month 2001 2002 J $47.13 $43.93 F 45.89 42.56 M 46.15 45.51 A 44.59 43.96 M 45.82 42.93 J 45.66 42.99 J 43.6 42.38 A 44.78 42.2 S 40.39 41.32 O 44.18 42.68 N 42.11 41.33 D 41.61 41.88 D Georgia Department of Labor Average 30-Year Fixed Mortgage Rate* 8.02 2001 2002 7.52 7.02 6.52 6.02 5.52 J F MA M J J Average 15-Year Fixed Mortgage Rate* 7.70 2001 2002 Monthly Data Not Seasonally Adjusted Month J F M A M J J A S O N D A SO ND * Does not include points 2001 7.17 % 7.13 7.02 7.11 7.22 7.22 7.18 7.01 6.82 6.62 6.72 7.17 2002 7.03 % 6.85 7 6.96 6.77 6.6 6.44 6.27 6.16 6.16 6.05 6 7.08 6.46 5.84 5.22 4.60 J F MA M J J A SO ND * Does not include points Average One-Year Adjustable Mortgage Rate* 8.61 2001 2002 Monthly Data Not Seasonally Adjusted Month J F M A M J J A S O N D 2001 6.74 % 6.73 6.59 6.62 6.7 6.77 6.73 6.53 6.35 6.15 6.24 6.65 2002 6.52 % 6.37 6.55 6.49 6.29 6.11 5.94 5.75 5.58 5.55 5.44 5.4 7.43 6.25 5.07 3.89 2.71 J F MA M J Georgia Department of Labor Monthly Data Not Seasonally Adjusted Month J F M A M J J A S O N D 2001 6.5 % 6.22 6 5.83 5.79 5.71 5.67 5.57 5.38 5.05 5.05 5.26 2002 4.99 % 4.84 4.98 4.92 4.67 4.29 4.05 3.99 4.2 4.05 3.76 3.63 JA SO N D * Does not include points Metro Atlanta Economic Indicators / February 2003 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. Atlanta, Georgia 30303-1751 Please add my name to your mailing list for Metro Atlanta Economic Indicators. Name Company / Agency Address City State Zip Code