ATL ANTA METROPOLITAN Economic Indicators A Monthly Report of Atlanta Labor Market and Economic Trends April 2002 Volume 5, Issue 2 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 2 April 2002 February 2002 Data Cover art: Mable House, Mableton, 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 / April 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 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 / April 2002 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 66.9 62.5 68.5 63.6 70.5 64.7 71.9 65.9 73.2 65.9 74 7.7 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 111.7 111.1 112.2 112.4 112.7 113.5 2.1 1987 115.5 117.5 3.5 1988 119.1 121.7 3.6 1989 124.9 127.3 4.6 1990 130.8 132.6 4.2 1991 135.5 136.2 2.7 1992 138.6 138.5 1.7 1993 142.2 144.7 4.5 1994 146.7 146.7 1.4 1995 150.3 151.5 3.3 1996 154.7 157.2 3.8 1997 158.3 159.5 1.5 1998 159.5 160.8 162 161.9 162 161.6 1.4 1999 161.9 164 164.8 165.9 166.5 167 3.3 2000 167.4 169.8 170.9 172.1 171.9 171.9 2.9 2001 175.3 176.6 177.8 176.9 176.7 174.8 1.7 2002 176.1 Source: U.S. Bureau of Labor Statistics Consumer Price Index for Atlanta The Consumer Price Index for All Urban Consumers (CPI-U) for Atlanta increased 0.7 percent over the two months ending in February to a level of 176.1 (1982-84=100), not seasonally adjusted, as recently reported by the Bureau of Labor Statistics of the U.S. Department of Labor. For the 12-month period ending in February, the CPI-U for Atlanta increased 0.5 percent. Over the two months, the all items index reflected higher costs for apparel. February marked the first two-month increase in the all items index since June 2001. The 0.5 percent increase for the 12 months ending in February compares to a 4.7 percent increase recorded for the same 12 month period ending in February 2001. The energy index increased 0.6 percent over the most recent two months, due to higher costs for motor fuel. Excluding food and energy, the CPI-U for Atlanta rose 0.9 percent over the past two months, declining 4.5 percent in the November- the largest two-month increase for this December period. The large increase in index since February 2001. Over the past this volatile index reversed the 8.4 percent 12 months, the all items less food and decline posted from April through energy index rose 1.9 percent. December 2001, and moved the index to Housing costs registered a 0.2 percent its highest point since April 1998. With decrease, reflecting lower costs for the most recent increase, apparel costs household fuels and utilities. Shelter costs have risen 5.8 percent since February increased a slight 0.1 percent. Household 2001. fuels and utilities costs continued their Transportation costs rose 0.4 percent downward trend that began in August after declining 3.7 percent in the 2001. The index declined 2.1 percent in November-December pricing period. The the January-February pricing period as index's increase reflected higher costs for electricity costs dropped 1.5 percent and motor fuel, which climbed 6.5 percent utility natural gas service declined 4.5 over the past two months. percent. Over the 12 months ending in The medical care index rose 0.8 percent February, the housing index has declined after declining 1.5 percent in the 0.2 percent. While shelter costs rose 1.9 November-December pricing period. percent, fuels and utilities costs dropped With the most recent rise, consumers' 10.6 percent, and household furnishings costs for medical care in the Atlanta area and operations costs declined 1.2 percent. now stand 0.7 percent higher than they Apparel costs rose 14.5 percent in the were in February 2001, the smallest 12 January-February pricing period after month ( bi-monthly) increase since 1998. Georgia Department of Labor Metro Atlanta Economic Indicators / April 2002 3 Retail Gasoline Prices of Selected Metropolitan Areas, March 2002 Source: BLS, "Price & Living Conditions: Average Price Data." Atlantans Pay Less at the Pump As the summer vacation season approaches, Atlantans enjoy paying the lowest retail prices for gasoline in select metropolitan areas across the nation. Atlantans in the metro area paid on average $1.09 per gallon for gasoline during the month of March, according to the Bureau of Transportation Statistics (BTS), a division of the Bureau of Labor Statistics. The average price for regular unleaded gasoline in Georgia increased 8.9 cents in March to an average of $1.07 per gallon, compared to $1.31 one year ago. Mid-grade unleaded rose 9.6 cents to an average of $1.16 per gallon. Premium unleaded climbed 9.9 cents to an average $1.21 and Diesel rose 4.3 cents to an average $1.15 per gallon. The typical U.S.city pays on average $1.34 per gallon for gasoline. According to the U.S. Department of Transportation, personal gasoline consumption breaks down like this: earning a living (to and from work):37.7%; family business: 35.5%; social and recreation: 22.8%; school and religious: 3.8%; Other:0.2%. Nationwide the U.S. imports about 50% of its required crude oil and about half of that amount comes from OPEC (Organization of Petroleum Exporting Countries). Crude oil costs represent the single largest component of the retail price for gas, accounting for about 43% of the price at the pump for regular grade gasoline, according to the Energy Information Administration (EIA). Self-Serve Unleaded Average Prices for Georgia Metro Areas Metro Area Regular Mid Premium Atlanta 1.068 1.149 1.200 Augusta 1.060 1.140 1.190 Columbus 1.062 1.142 1.192 Macon 1.072 1.153 1.204 Savannah 1.135 1.220 1.275 State Average 1.079 1.160 1.211 Diesel 1.180 1.115 1.115 1.092 1.126 1.151 4 Metro Atlanta Economic Indicators / April 2002 Georgia Department of Labor Data Summary February 2002 Data Metro Atlanta Economic Indicators Feb 2002 Jan 2002 Feb 2001 Percent Percent Change Change Jan 2002 Feb 2001 to to Feb 2002 Feb 2002 Nonagricultural Employment 2,140,813 Wholesale Employment 162,221 Retail Employment 384,672 Services Employment 668,512 Manufacturing Employment 210,663 Government Employment 276,537 Construction Employment 113,928 Transp. & Pub. Utilities Employment 177,664 Finance, Insurance & Realty Employment 143,893 Business Services Employment 203,700 Health Services Employment 133,379 Social Services Employment 34,550 Manufacturing Workweek 38.0 Manufacturing Earnings $538.59 Deflated Manufacturing Earnings $302.92 Initial Unemployment Claims 12,464 Continued Unemployment Claims 181,110 Total Unemployment Rate (not seasonally adjusted) 4.5% Insured Unemployment Rate 2.02% MARTA Passengers 5,621,000 Cobb County Transit Passengers 170,281 Residential Construction (household units) 5,070 Nonresidential Construction (value) $347,867,000 Deflated Nonresidential Construction $195,651 Hotel Occupancy 59.5% Average Hotel Room Rates $75.67 Deflated Average Hotel Room Rate $42.56 Average 30-Year Fixed Mortgage Rate 6.85% Average 15-Year Fixed Mortgage Rate 6.37% Average One-Year Adjustable Mortgage Rate 4.84% Georgia Department of Labor 2,137,649 163,076 386,814 662,269 212,496 276,408 114,884 179,208 140,850 202,527 130,877 34,620 38.9 $552.14 $311.77 14,616 166,026 4.4% 2.00% 5,645,000 186,592 5,226 $332,767,000 $187,898 59.9% $77.81 $43.93 7.03% 6.52% 4.99% 2,201,436 169,542 398,616 687,678 216,332 272,243 120,093 192,909 141,711 229,301 126,943 32,164 38.9 $553.01 $314.57 10,223 80,310 3.1% 0.88% 6,228,000 130,075 6,144 $324,993,000 $184,865 64.9% $80.68 $45.89 7.13% 6.73% 6.22% 0.15 -0.52 -0.55 0.94 -0.86 0.05 -0.83 -0.86 2.16 0.58 1.91 -0.20 -2.23 -2.45 -2.84 -14.72 9.09 -0.43 -8.74 -2.99 4.54 4.13 -2.75 -3.13 - -2.75 -4.32 -3.50 -2.79 -2.62 1.58 -5.13 -7.90 1.54 -11.16 5.07 7.42 -2.31 -2.61 -3.70 21.91 125.51 -9.75 30.91 -17.48 7.04 5.83 -6.20 -7.26 - Metro Atlanta Economic Indicators / April 2002 5 Nonagricultural Employment 2.25 2000-2001 2001-2002 2.22 Monthly Data Seasonally Adjusted Month 2000-2001 2001-2002 2.19 Mar Apr May 2.16 Jun Jul Aug Sep 2.14 Oct Nov Dec Jan 2.11 Feb M A M J J A S O N D J F 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 2,137,649 2,140,813 Wholesale Employment 180.9 2000-2001 2001-2002 176.2 Monthly Data Seasonally Adjusted 171.4 Month 2000-2001 2001-2002 Mar Apr May 166.6 Jun Jul Aug Sep 161.9 Oct Nov Dec Jan 157.1 Feb M A M J J A S O N D J F 175,551 174,182 173,757 173,367 172,513 171,880 170,937 170,371 169,345 169,761 170,504 169,542 169,720 169,364 168,736 169,520 170,210 167,889 168,089 168,062 167,416 162,368 163,076 162,221 Retail Employment 410.2 2000-2001 2001-2002 403.6 Monthly Data Seasonally Adjusted 396.9 Month 2000-2001 2001-2002 Mar Apr May 390.3 Jun Jul Aug Sep 383.6 Oct Nov Dec Jan 377.0 Feb M A M J J A S O N D J F 389,282 389,320 390,416 391,699 391,542 392,650 392,803 394,699 398,257 398,610 398,320 398,616 400,920 401,984 401,803 401,290 396,967 396,531 395,769 395,528 394,349 395,442 386,814 384,672 6 Metro Atlanta Economic Indicators / April 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 Mar 671,889 688,722 Apr 669,797 693,171 May 672,465 689,963 671.3 Jun 679,515 688,556 Jul 682,225 688,432 Aug 686,911 685,960 Sep 688,611 681,110 658.6 Oct 688,958 681,820 Nov 689,450 670,195 Dec 690,858 663,531 Jan 687,922 662,269 645.8 Feb M A M J J A S O N D J F 687,678 668,512 Manufacturing Employment 229.6 2000-2001 2001-2002 224.0 Monthly Data Seasonally Adjusted 218.4 Month 2000-2001 2001-2002 Mar Apr May 212.8 Jun Jul Aug Sep 207.2 Oct Nov Dec Jan 201.6 Feb M A M J J A S O N D J F 222,763 222,639 221,858 222,571 218,876 221,181 220,284 219,354 218,679 218,388 215,961 216,332 215,752 213,394 211,695 211,596 210,996 210,224 210,013 210,737 207,678 208,484 212,496 210,663 Government Employment 285.5 2000-2001 2001-2002 279.3 273.1 267.0 260.8 254.7 M A M J Georgia Department of Labor J A S O N D Monthly Data Seasonally Adjusted Month 2000-2001 2001-2002 Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb J F 265,313 265,509 268,947 264,330 261,620 264,461 265,399 266,476 267,915 267,421 270,538 272,243 272,965 272,995 272,817 272,967 270,500 268,116 273,845 274,057 275,806 277,667 276,408 276,537 Metro Atlanta Economic Indicators / April 2002 7 Construction Employment 128.1 2000-2001 2001-2002 124.5 Monthly Data Seasonally Adjusted Month 2000-2001 2001-2002 120.8 Mar 117,864 120,265 Apr 117,417 122,183 May 118,011 121,631 117.1 Jun 119,152 122,045 Jul 119,997 120,752 Aug 119,908 122,476 Sep 120,157 121,443 113.5 Oct 119,460 123,625 Nov 119,207 118,467 Dec 119,098 114,719 Jan 119,720 114,884 109.8 Feb M A M J J A S O N D J F 120,093 113,928 Transportation and Public Utilities Employment 205.7 2000-2001 2001-2002 198.5 Monthly Data Seasonally Adjusted 191.2 Month 2000-2001 2001-2002 Mar Apr May 184.0 Jun Jul Aug Sep 176.8 Oct Nov Dec Jan 169.5 Feb M A M J J A S O N D J F 188,361 189,198 189,770 190,148 190,386 191,791 191,839 194,155 195,982 196,488 193,645 192,909 193,073 194,821 194,625 194,442 192,674 193,229 191,284 187,871 183,492 181,429 179,208 177,664 Finance, Insurance and Realty Employment 145.9 2000-2001 2001-2002 144.2 Monthly Data Seasonally Adjusted 142.5 Month 2000-2001 2001-2002 Mar Apr May 140.7 Jun Jul Aug Sep 139.0 Oct Nov Dec Jan 137.3 Feb M A M J J A S O N D J F 139,221 139,510 139,891 140,235 140,957 141,114 140,117 140,662 140,820 141,060 141,392 141,711 142,343 143,418 143,536 143,978 142,551 142,019 141,658 142,105 141,056 140,207 140,850 143,893 8 Metro Atlanta Economic Indicators / April 2002 Georgia Department of Labor Business Services Employment 254.6 2000-2001 2001-2002 240.9 Monthly Data Seasonally Adjusted 227.3 Month 2000-2001 2001-2002 Mar Apr May 213.6 Jun Jul Aug Sep 200.0 Oct Nov Dec Jan 186.3 Feb M A M J J A S O N D J F 229,981 225,188 229,320 231,241 233,704 236,420 237,307 237,776 236,095 237,132 231,751 229,301 229,264 226,603 225,539 222,177 223,289 222,957 220,140 216,269 204,182 204,204 202,527 203,700 Health Services Employment 137.1 2000-2001 2001-2002 133.7 Monthly Data Seasonally Adjusted Month 2000-2001 2001-2002 130.3 126.9 Mar Apr May Jun Jul Aug 124,046 124,542 124,598 125,192 124,415 125,192 127,363 128,711 129,493 130,653 130,221 129,892 Sep 125,420 130,478 123.5 Oct Nov Dec Jan 120.0 Feb M A M J J A S O N D J F 126,221 126,427 126,414 125,934 126,943 132,458 131,142 131,098 130,877 133,379 Social Services Employment 36.1 2000-2001 2001-2002 34.8 Monthly Data Seasonally Adjusted Month 2000-2001 2001-2002 33.5 Mar Apr May 32.1 Jun Jul Aug Sep 30.8 Oct Nov Dec Jan 29.4 Feb M A M J J A S O N D J F 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 34,620 34,550 Georgia Department of Labor Metro Atlanta Economic Indicators / April 2002 9 Manufacturing Workweek 43.8 2000-2001 2001-2002 42.3 Monthly Data Seasonally Adjusted Month 2000-2001 2001-2002 40.8 Mar 40.5 38.9 Apr 41.9 38.4 May 40.4 39.6 39.2 Jun 40.0 40.1 Jul 39.5 38.8 Aug 39.8 39.6 Sep 38.8 39.8 37.7 Oct 39.9 38.6 Nov 39.3 38.9 Dec 39.0 38.9 Jan 39.1 38.9 36.1 Feb M A M J J A S O N D J F 38.9 38.0 Manufacturing Earnings $603 2000-2001 2001-2002 $586 Monthly Data Seasonally Adjusted $569 Month 2000-2001 2001-2002 $552 Mar Apr May Jun Jul Aug $555.13 583.67 552.27 552.51 547.47 560.32 $551.74 541.22 561.95 575.65 555.90 561.00 Sep 548.43 569.47 $535 Oct Nov Dec Jan $519 Feb M A M J J A S O N D J F 569.35 563.98 552.40 550.79 553.01 544.90 543.04 559.84 552.14 538.59 Deflated Manufacturing Earnings $356 2000-2001 2001-2002 $342 Monthly Data Seasonally Adjusted $329 Month 2000-2001 2001-2002 $315 Mar Apr May Jun $324.26 340.73 322.02 319.74 $313.13 305.95 316.23 323.40 Jul 316.82 313.18 $301 Aug 324.64 316.06 Sep 315.73 319.39 Oct 327.21 306.64 Nov 323.94 306.11 Dec 317.47 316.83 Jan $288 Feb M A M J J A S O N D J F 314.56 314.57 311.77 302.92 10 Metro Atlanta Economic Indicators / April 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 Mar 6,129 10,221 Apr 5,608 10,910 May 6,705 11,798 10.2 Jun 7,552 10,967 Jul 6,861 11,834 Aug 8,219 13,049 Sep 7,057 12,523 5.1 Oct 7,534 19,180 Nov 7,795 17,429 Dec 8,228 13,885 Jan 11,539 14,616 0.0 Feb M A M J J A S O N D J F 10,223 12,464 Continued Unemployment Claims 256.5 2000-2001 2001-2002 205.2 Monthly Data Seasonally Adjusted 153.9 Month 2000-2001 2001-2002 Mar Apr May 102.6 Jun Jul Aug Sep 51.3 Oct Nov Dec Jan 0.0 Feb M A M J J A S O N D J F 51,650 53,297 65,495 56,248 61,750 59,873 59,470 73,196 59,977 61,431 78,839 80,310 76,932 110,332 104,108 109,620 124,874 123,371 131,061 190,425 164,254 189,033 166,026 181,110 Total Unemployment Rate 5.4 2000-2001 2001-2002 4.6 Monthly Data Not Seasonally Adjusted Month 2000-2001 2001-2002 3.9 Mar 3.0% 3.0 % Apr 2.8 2.8 May 2.9 3.0 3.1 Jun 3.5 3.7 Jul 3.3 3.6 Aug 3.1 3.6 Sep 3.1 3.8 2.4 Oct 3.0 4.1 Nov 2.6 4.1 Dec 2.6 4.2 Jan 2.9 4.4 1.7 Feb M A M J J A S O N D J F 3.1 4.5 Georgia Department of Labor Metro Atlanta Economic Indicators / April 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 M A M J MMARTA Passengers Month Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb J A S O N D J F 2000-2001 0.63 % 0.63 0.63 0.65 0.66 0.68 0.68 0.68 0.69 0.78 0.82 0.88 2001-2002 0.93 % 1.02 1.13 1.23 1.35 1.44 1.68 1.75 2.01 1.99 2.00 2.02 7.8 2000-2001 2001-2002 7.2 Monthly Data Seasonally Adjusted Month 2000-2001 2001-2002 6.6 Mar Apr May 6.0 Jun Jul Aug Sep 5.4 Oct Nov Dec Jan Feb 4.8 M A M J J A S O N D J F 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 5,621,000 Cobb Community Transit Passengers 235.9 2000-2001 2001-2002 205.7 Monthly Data Seasonally Adjusted 175.6 Month 2000-2001 2001-2002 Mar Apr May 145.4 Jun Jul Aug Sep 115.2 Oct Nov Dec Jan 85.0 Feb M A M J J A S O N D J F 138,882 172,616 195,133 125,437 126,747 136,845 132,248 138,910 137,090 123,707 141,285 130,075 174,076 147,888 168,529 177,233 176,523 189,661 173,058 187,596 193,266 172,187 186,592 170,281 12 Metro Atlanta Economic Indicators / April 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 Mar 5,708 5,089 Apr 5,905 5,201 May 5,753 5,799 4.9 Jun 5,465 6,447 Jul 5,312 5,390 Aug 5,211 5,358 Sep 5,066 4,915 4.1 Oct 4,282 4,939 Nov 5,083 4,686 Dec 5,011 4,826 Jan 5,949 5,226 3.2 Feb M A M J J A S O N D J F 6,144 5,070 Nonresidential Construction $426 2000-2001 2001-2002 $342 Monthly Data Seasonally Adjusted $258 Month 2000-2001 2001-2002 Mar $351,021,000 $315,487,000 Apr 535,747,000 430,876,000 $174 May Jun 392,505,000 561,138,000 312,898,000 299,961,000 Jul 254,659,000 351,753,000 Aug 262,446,000 306,256,000 Sep 387,210,000 326,715,000 $90 Oct 351,400,000 347,295,000 Nov 263,093,000 450,041,000 Dec 343,026,000 186,475,000 Jan 354,911,000 332,767,000 $6 Feb 324,993,000 347,867,000 M A M J J A S O N D J F Deflated Nonresidential Construction $426 2000-2001 2001-2002 $342 Monthly Data Seasonally Adjusted $258 Month 2000-2001 2001-2002 Mar $205,036,000 $179,051,000 Apr 312,754,000 243,570,000 May 228,866,000 176,082,000 $174 Jun 324,733,000 168,517,000 Jul 147,372,000 198,171,000 Aug 152,054,000 172,539,000 Sep 222,919,000 183,239,000 $90 Oct 201,954,000 195,439,000 Nov 151,116,000 253,687,000 Dec 197,141,000 105,532,000 Jan 202,690,000 187,898,000 $6 Feb 184,865,000 195,651,000 M A M J J A S O N D J F Georgia Department of Labor Metro Atlanta Economic Indicators / April 2002 13 Hotel Occupancy 76.4 2000-2001 2001-2002 69.9 Monthly Data Seasonally Adjusted Month 2000-2001 2001-2002 63.3 Mar 64.68 % 66.92 % Apr 64.21 63.47 May 64.79 64.03 56.7 Jun 67.60 65.04 Jul 68.51 61.16 Aug 66.95 63.66 Sep 67.40 51.34 50.2 Oct 65.82 58.12 Nov 64.76 55.98 Dec 60.70 55.29 Jan 65.05 59.85 43.6 Feb 64.85 59.54 M A M J J A S O N D J F Average Hotel Room Rates $88 2000-2001 2001-2002 $83 Monthly Data Seasonally Adjusted Month 2000-2001 2001-2002 $79 Mar Apr May $75 Jun Jul Aug Sep $71 Oct Nov Dec Jan $67 Feb M A M J J A S O N D J F $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 75.67 Deflated Average Hotel Room Rates $52 2000-2001 2001-2002 $49 Monthly Data Seasonally Adjusted Month 2000-2001 2001-2002 $46 Mar Apr May $43 Jun Jul Aug Sep $40 Oct Nov Dec Jan $37 Feb M A M J J A S O N D J F $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 42.56 14 Metro Atlanta Economic Indicators / April 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 M A M J J A S Average 15-Year Fixed Mortgage Rate* 9.10 2000-2001 2001-2002 Monthly Data Not Seasonally Adjusted Month Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb O N D J F * Does not include points 2000-2001 8.28 % 8.12 8.55 8.26 8.16 8.04 7.95 7.81 7.79 7.45 7.17 7.13 2001-2002 7.02 % 7.11 7.22 7.22 7.18 7.01 6.82 6.62 6.72 7.17 7.03 6.85 8.33 7.57 6.80 6.04 5.27 M A M J J A S O N D J F * Does not include points Average One-Year Adjustable Mortgage Rate* 8.46 2000-2001 2001-2002 Monthly Data Not Seasonally Adjusted Month 2000-2001 2001-2002 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 Feb 6.73 6.37 7.53 Monthly Data Not Seasonally Adjusted Month 6.60 Mar Apr May 5.67 Jun Jul Aug Sep 4.74 Oct Nov Dec Jan 3.81 Feb M A M J J A S O N D J F * Does not include points 2000-2001 6.90 % 6.82 7.09 7.22 7.26 7.35 7.34 7.14 7.06 6.92 6.50 6.22 2001-2002 6.00 % 5.83 5.79 5.71 5.67 5.57 5.38 5.05 5.05 5.26 4.99 4.84 Georgia Department of Labor Metro Atlanta Economic Indicators / April 2002 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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