Metro Atlanta economic indicators, monthly report, Vol. 5, no. 3 (May 2002)

AT L A N TA

METROPOLITAN
Economic

Indicators

A Monthly Report of Atlanta Labor Market and Economic Trends

May 2002

Volume 5, Issue 3

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 3 May 2002

March 2002 Data
Cover art: Stone Mountain , 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 / May 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 / May 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 1996 1997 1998 1999 2000 2001 2002

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Rate

78.5

80.6

82.2

82.7

84.2

85.8

12.5

87.8

89.0

90.4

91.9

93.0

94.3

9.9

95.1

94.7

97.0

97.6

98.0

97.8

3.7

98.0

98.8

99.6

100.2

101.2

101.3

3.6

102.4

103.1

103.6

104.3

105.1

105.3

3.9

105.7

106.4

107.1

107.6

108.3

108.7

3.2

108.9

107.9

108.7

108.7

109.4

109.7

0.9

110.2

110.7 111.1 111.5 111.8 112.2 112.6 112.9 113.5 113.8 114.1 114.0

3.9

114.1

114.4 114.8 115.4 115.6 116.1 116.6 117.0 117.7 118.2 118.3 118.5

3.9

118.9

119.2 119.8 120.8 121.3 121.7 122.0 122.1 122.5 123.0 123.2 123.4

4.1

124.6

125.4 126.0 126.1 126.5 127.3 127.8 128.7 129.7 130.7 130.9 130.9

6.1

131.4

131.7 131.9 132.1 132.5 132.8 133.0 133.3 133.8 134.1 134.4 134.3

2.6

134.4

134.9 135.5 135.9 136.2 136.7 136.8 137.0 137.3 137.8 138.1 137.9

2.7

138.4

139.1 139.7 140.2 140.7 140.8 140.9 141.5 141.6 142.2 142.3 142.2

3.1

142.5

142.9 143.6 143.8 144.3 144.7 145.0 145.5 145.8 145.9 146.0 146.1

2.7

146.7

147.4 148.0 148.4 148.8 149.1 149.2 149.7 149.8 150.5 150.4 150.3

2.9

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

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

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

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

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

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

170.6

171.0 172.1

Source: U.S. Bureau of Labor Statistics

Consumer Price Index for the South

The Consumer Price Index for All Urban Consumers (CPI-U) for the South increased 0.6 percent in March to a level of 172.1 (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 March, the CPI-U for the South increased 0.9 percent.
The increase in March in the all items index was the largest onemonth increase since March 2000. Over the month, rising energy costs accounted for much of the increase in addition to higher costs for housing and apparel. Excluding food and energy, the CPI-U, South rose 0.3 percent over the month.
For the first three months of 2002, the CPI-U for the South increased 1.1 percent - the same amount as in all of calendar year 2001. In the 12

months since March 2001, the CPIU, South has increased 0.9 percent. Excluding food and energy, the CPIU, South has risen 1.7 percent since March 2001.
The housing index increased 0.4 percent in March. Shelter costs increased 0.5 percent. Costs for fuels and utilities increased 0.1 percent, reflecting an increase in costs for electricity. The index for electricity increased 0.1 percent, the first monthly increase since July. Since March 2001, the housing index has increased 0.9 percent.
The index for apparel increased 3.3 percent in March - reflecting the annual introduction of higher-priced spring and summer wear. Despite the most recent one-month increase, the apparel index remains lower than in March 2001, down 3.2 percent from a year ago.

The transportation index increased 1.4 percent in March. Although costs for new and used motor vehicles declined 0.8 percent, costs for motor fuels increased 10.0 percent. Gasoline costs, the largest component of the motor fuels index, showed a 10.2 percent increase over the month. It has been two years since the index for gasoline has recorded such a large one-month rise. Even with the latest increase, costs for gasoline have fallen 13.9 percent over the last twelve months and are 24.8 percent below their level in May 2001.
Costs for medical care continued to rise in March, up 0.5 percent over the month. The index for medical care commodities rose 0.4 percent. The index for medical care services rose 0.6 percent. Over the year, medical care costs have increased 3.5 percent.

Georgia Department of Labor

Metro Atlanta Economic Indicators / May 2002 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

Note: All indicators are seasonally adjusted

Atlanta's Coincident Economic Indicator Stabilizes

The Georgia Department of Labor's Index of Leading Economic Indicators (LEI) for the Atlanta metropolitan area decreased 0.4 percent in March, to a level of 157.2 from a revised 158.0 in February, after seasonal adjustment and annual benchmarking.
The LEI started the year off briskly increasing the first two months of 2002; 1.6 and 1.5 percent, respectively. Nevertheless, the leading economic indicator contracted in March. The LEI was held down by a sharp downturn in commercial construction activity. The increase in new jobless claims also contributed to the index's contraction, up 9.1 percent in March after falling 14.7 percent in February.
On the positive side, the residential construction sector continues to move forward, permits for single family homes, muti-family homes and

Recent 12 Months

171.3

Leading Coincident

163.8

156.2

148.7

141.1

1987-88 = 100

133.6

AM

J

J

A

S

O

N

D

J

F

M

apartment buildings were up 4.2 percent in March. Continued unemployment claims were down 7.2 percent. However, the level of claims continues to be high, a sign that the job market remains sluggish.
The Index of Coincident Economic Indicators (CEI) slipped 0.5 percent in March, to a level of 142.1 from a

revised 142.9, after seasonal adjustment and annual benchmarking. The CEI seems to have leveled out, at least for the moment.
Nonagricultural employment slipped 0.1 percent in March, after seasonal adjustment. Retail employment ended the last month of the first quarter flat as retailers prepare to restock their shelves with new merchandise for the summer. The jobless rate in Metro Atlanta surged to 4.6 percent, rising above Georgia's unemployment rate. Atlanta's jobless rate hasn't been this high since October of 1994 when the unemployment rate reached 4.9 percent.
The trajectory of the two economic indices have been modified, due to the yearly benchmarking process. Every year employment figures are adjusted, these changes are then updated in the economic model in order to provide the most recent data available.

4 Metro Atlanta Economic Indicators / May 2002

Georgia Department of Labor

Data Summary
March 2002 Data

Metro Atlanta Economic Indicators

Mar 2002

Feb 2002

Percent Percent Change Change

Feb 2002 Mar 2001

to

to

Mar 2001 Mar 2002 Mar 2002

Nonagricultural Employment

2,134,748

Wholesale Employment

158,305

Retail Employment

383,720

Services Employment

674,748

Manufacturing Employment

207,579

Government Employment

276,638

Construction Employment

112,412

Transp. & Pub. Utilities Employment

177,546

Finance, Insurance & Realty Employment

142,497

Business Services Employment

208,472

Health Services Employment

133,175

Social Services Employment

34,644

Manufacturing Workweek

40.4

Manufacturing Earnings

$579.89

Deflated Manufacturing Earnings

$324.32

Initial Unemployment Claims

13,598

Continued Unemployment Claims

168,001

Total Unemployment Rate (not seasonally adjusted) 4.7%

Insured Unemployment Rate

2.06%

MARTA Passengers

5,408,000

Cobb County Transit Passengers

165,386

Residential Construction (household units)

5,286

Nonresidential Construction (value)

$170,535,000

Deflated Nonresidential Construction

$95,378

Hotel Occupancy

61.0%

Average Hotel Room Rates

$81.37

Deflated Average Hotel Room Rate

$45.51

Average 30-Year Fixed Mortgage Rate

7.00%

Average 15-Year Fixed Mortgage Rate

6.55%

Average One-Year Adjustable Mortgage Rate

4.98%

Georgia Department of Labor

2,138,795 160,916 383,758 667,703 212,370 276,737 115,255 177,463 142,382 204,004 133,077 34,550 39.3 $578.59 $325.42 12,464 181,110 4.7% 2.02%
5,621,000 170,281 5,070
$347,867,000 $195,651 59.5% $75.67 $42.56 6.85% 6.37% 4.84%

2,205,457 169,720 400,920 688,722 215,752 272,965 120,265 193,073 142,343 229,264 127,363 32,188 38.9 $551.74 $313.13 10,221 76,932 3.0% 0.93%
6,378,000 174,076 5,089
$315,487,000 $179,051 66.9% $81.33 $46.15 7.02% 6.59% 6.00%

-0.19 -1.62 -0.01 1.06 -2.26 -0.04 -2.47 0.05 0.08 2.19 0.07 0.27 2.78 0.22 -0.34 9.10 -7.24
-3.79 -2.87 4.25 -50.98 -51.25 7.52 6.92 -

-3.21 -6.73 -4.29 -2.03 -3.79 1.35 -6.53 -8.04 0.11 -9.07 4.56 7.63 3.90 5.10 3.57 33.04 118.38
-15.21 -4.99 3.87 -45.95 -46.73 0.05 -1.41 -

Metro Atlanta Economic Indicators / May 2002 5

MILLIONS

Nonagricultural Employment

2.25

2000-2001

2001-2002

2.22

Monthly Data

Seasonally Adjusted

Month 2000-2001 2001-2002 2.19

Apr

2,168,400

2,212,235

M ay

2,176,197

2,205,265

2.16

Jun

2,181,190

2,204,728

Jul

2,182,146

2,196,446

Aug

2,190,815

2,187,626

Sep

2,191,073

2,184,321

Oct

2,195,286

2,185,609

2.13

Nov

2,200,703

2,160,248

Dec

2,204,842

2,147,497

Jan

2,199,393

2,137,649

Feb

2,201,436

2,138,795

2.10

M ar

A

M

J

J

A

S

O

N

D

J

F

M

2,205,457

2,134,748

Wholesale Employment

180.9

2000-2001 2001-2002

THOUSANDS

175.2

Monthly Data
Seasonally Adjusted

169.4

Month 2000-2001 2001-2002

Apr

M ay

Jun

163.7

Jul

Aug

Sep

Oct

157.9

Nov

Dec

Jan

Feb

152.1

M ar

A

M

J

J

A

S

O

N

D

J

F

M

174,182 173,757 173,367 172,513 171,880 170,937 170,371 169,345 169,761 170,504 169,542 169,720

169,364 168,736 169,520 170,210 167,889 168,089 168,062 167,416 162,368 163,076 160,916 158,305

Retail Employment

410.3

2000-2001 2001-2002

403.4

Monthly Data
Seasonally Adjusted

THOUSANDS

396.4

Month

2000-2001 2001-2002

Apr

M ay

Jun

389.5

Jul

Aug

Sep

Oct

382.6

Nov

Dec

Jan

Feb

375.6

M ar

A

M

J

J

A

S

O

N

D

J

F

M

389,320 390,416 391,699 391,542 392,650 392,803 394,699 398,257 398,610 398,320 398,616 400,920

401,984 401,803 401,290 396,967 396,531 395,769 395,528 394,349 395,442 386,814 383,758 383,720

6 Metro Atlanta Economic Indicators / May 2002

Georgia Department of Labor

Services Employment

709.5

2000-2001

2001-2002

696.8

Monthly Data
Seasonally Adjusted

THOUSANDS

684.1

Month

2000-2001 2001-2002

Apr

669,797

693,171

M ay

672,465

689,963

Jun

679,515

688,556

671.3

Jul

682,225

688,432

Aug

686,911

685,960

Sep

688,611

681,110

Oct

688,958

681,820

658.6

Nov

689,450

670,195

Dec

690,858

663,531

Jan

687,922

662,269

Feb

687,678

667,703

645.8

M ar

A

M

J

J

A

S

O

N

D

J

F

M

688,722

674,748

Manufacturing Employment

229.6

2000-2001 2001-2002

THOUSANDS

224.0

Monthly Data
Seasonally Adjusted

218.4

Month

2000-2001

2001-2002

Apr

M ay

Jun

212.8

Jul

Aug

Sep

Oct

207.2

Nov

Dec

Jan

Feb

201.6

M ar

A

M

J

J

A

S

O

N

D

J

F

M

222,639 221,858 222,571 218,876 221,181 220,284 219,354 218,679 218,388 215,961 216,332 215,752

213,394 211,695 211,596 210,996 210,224 210,013 210,737 207,678 208,484 212,496 212,370 207,579

Government Employment

285.5

2000-2001

2001-2002

THOUSANDS

279.3

Monthly Data
Seasonally Adjusted

273.1

Month 2000-2001

2001-2002

Apr

265,509

272,995

M ay

268,947

272,817

Jun

264,330

272,967

267.0

Jul

261,620

270,500

Aug

264,461

268,116

Sep

265,399

273,845

Oct

266,476

274,057

260.8

Nov

267,915

275,806

Dec

267,421

277,667

Jan

270,538

276,408

Feb

272,243

276,737

254.7

M ar

A

M

J

J

A

S

O

N

D

J

F

M

272,965

276,638

Georgia Department of Labor

Metro Atlanta Economic Indicators / May 2002 7

Construction Employment

128.2

2000-2001

2001-2002

THOUSANDS

124.0

Monthly Data
Seasonally Adjusted

Month 2000-2001 2001-2002

119.9

Apr

117,417

122,183

M ay

118,011

121,631

Jun

119,152

122,045

115.8

Jul

119,997

120,752

Aug

119,908

122,476

Sep

120,157

121,443

Oct

119,460

123,625

111.7

Nov

119,207

118,467

Dec

119,098

114,719

Jan

119,720

114,884

Feb

120,093

115,255

107.5

M ar

A

M

J

J

A

S

O

N

D

J

F

M

120,265

112,412

Transportation and Public Utilities Employment

205.7

2000-2001

2001-2002

THOUSANDS

198.5

Monthly Data
Seasonally Adjusted

191.2

Month 2000-2001 2001-2002

Apr

M ay

Jun

184.0

Jul

Aug

Sep

Oct

176.8

Nov

Dec

Jan

Feb

169.5

M ar

A

M

J

J

A

S

O

N

D

J

F

M

189,198 189,770 190,148 190,386 191,791 191,839 194,155 195,982 196,488 193,645 192,909 193,073

194,821 194,625 194,442 192,674 193,229 191,284 187,871 183,492 181,429 179,208 177,463 177,546

Finance, Insurance and Realty Employment

145.9

2000-2001

2001-2002

144.2

Monthly Data
Seasonally Adjusted

THOUSANDS

142.5

Month 2000-2001 2001-2002

Apr

139,510

143,418

M ay

139,891

143,536

Jun

140,235

143,978

140.7

Jul

140,957

142,551

Aug

141,114

142,019

Sep

140,117

141,658

Oct

140,662

142,105

139.0

Nov

140,820

141,056

Dec

141,060

140,207

Jan

141,392

140,850

Feb

141,711

142,382

137.3

M ar

A

M

J

J

A

S

O

N

D

J

F

M

142,343

142,497

8 Metro Atlanta Economic Indicators / May 2002

Georgia Department of Labor

Business Services Employment

254.6

2000-2001

2001-2002

240.9

Monthly Data
Seasonally Adjusted

THOUSANDS

227.3

Month 2000-2001 2001-2002

Apr

225,188

226,603

M ay

229,320

225,539

Jun

231,241

222,177

213.6

Jul

233,704

223,289

Aug

236,420

222,957

Sep

237,307

220,140

Oct

237,776

216,269

200.0

Nov

236,095

204,182

Dec

237,132

204,204

Jan

231,751

202,527

Feb

229,301

204,004

186.3

M ar

A

M

J

J

A

S

O

N

D

J

F

M

229,264

208,472

Health Services Employment

137.1

2000-2001

2001-2002

THOUSANDS

133.7

Monthly Data
Seasonally Adjusted

Month 2000-2001 2001-2002

130.3

Apr

124,542

128,711

M ay

124,598

129,493

Jun

125,192

130,653

126.9

Jul

124,415

130,221

Aug

125,192

129,892

Sep

125,420

130,478

Oct

126,221

132,458

123.5

Nov

126,427

131,142

Dec

126,414

131,098

Jan

125,934

130,877

Feb

126,943

133,077

120.0

M ar

A

M

J

J

A

S

O

N

D

J

F

M

127,363

133,175

Social Services Employment
36.1 2000-2001 2001-2002

THOUSANDS

34.8

Monthly Data

Seasonally Adjusted

Month 2000-2001 2001-2002 33.5

Apr

31,149

32,128

M ay

31,248

32,021

Jun

31,188

31,950

32.1

Jul

31,063

32,622

Aug

31,460

32,100

Sep

31,333

32,960

Oct

31,405

33,386

30.8

Nov

31,509

33,895

Dec

31,932

33,752

Jan

32,180

34,620

Feb

32,164

34,550

29.4

M ar

A

M

J

J

A

S

O

N

D

J

F

M

32,188

34,644

Georgia Department of Labor

Metro Atlanta Economic Indicators / May 2002

9

Manufacturing Workweek

43.6

2000-2001

2001-2002

HOURS

42.2

Monthly Data

Seasonally Adjusted

Month

40.8 Apr

M ay

Jun

39.5

Jul

Aug

Sep

Oct

38.1

Nov

Dec

Jan

Feb

36.8

M ar

A

M

J

J

A

S

O

N

D

J

F

M

2000-2001
41.9 40.4 40.0 39.5 39.8 38.8 39.9 39.3 39.0 39.1 38.9 38.9

2001-2002
38.4 39.6 40.1 38.8 39.6 39.8 38.6 38.9 38.9 38.9 39.3 40.4

Manufacturing Earnings

$603

2000-2001 2001-2002

DOLLARS

$586

Monthly Data
Seasonally Adjusted

$569

Month

2000-2001

2001-2002

Apr

$583.67

$541.22

M ay

552.27

561.95

Jun

552.51

575.65

$552

Jul

547.47

555.90

Aug

560.32

561.00

Sep

548.43

569.47

Oct

569.35

544.90

$535

Nov

563.98

543.04

Dec

552.40

559.84

Jan

550.79

552.14

Feb

553.01

578.59

$519

M ar

A

M

J

J

A

S

O

N

D

J

F

M

551.74

579.89

Deflated Manufacturing Earnings

$356

2000-2001 2001-2002

DOLLARS

$342

Monthly Data
Seasonally Adjusted

$329

Month

2000-2001

2001-2002

Apr

$340.73

$305.95

M ay

322.02

316.23

Jun

319.74

323.40

$315

Jul

316.82

313.18

Aug

324.64

316.06

Sep

315.73

319.39

Oct

327.21

306.64

$301

Nov

323.94

306.11

Dec

317.47

316.83

Jan

314.56

311.77

Feb

314.57

325.42

$288

M ar

A

M

J

J

A

S

O

N

D

J

F

M

313.13

324.32

10 Metro Atlanta Economic Indicators / May 2002

Georgia Department of Labor

Initial Unemployment Claims
25.5 2000-2001 2001-2002

THOUSANDS

20.4

Monthly Data

Seasonally Adjusted

Month

2000-2001 2001-2002

15.3

Apr

5,608

10,910

M ay

6,705

11,798

Jun

7,552

10,967

10.2

Jul

6,861

11,834

Aug

8,219

13,049

Sep

7,057

12,523

Oct

7,534

19,180

5.1

Nov

7,795

17,429

Dec

8,228

13,885

Jan

11,539

14,616

Feb

10,223

12,464

0.0

M ar

A

M

J

J

A

S

O

N

D

J

F

M

10,221

13,598

Continued Unemployment Claims

256.5

2000-2001 2001-2002

THOUSANDS

205.2

Monthly Data
Seasonally Adjusted

153.9

Month

2000-2001 2001-2002

Apr

53,297

110,332

M ay

65,495

104,108

Jun

56,248

109,620

102.6

Jul

61,750

124,874

Aug

59,873

123,371

Sep

59,470

131,061

Oct

73,196

190,425

51.3

Nov

59,977

164,254

Dec

61,431

189,033

Jan

78,839

166,026

Feb

80,310

181,110

0.0

M ar

A

M

J

J

A

S

O

N

D

J

F

M

76,932

168,001

Total Unemployment Rate
5.7 2000-2001 2001-2002

PERCENTAGES

4.9

Monthly Data

Not Seasonally Adjusted

Month

4.1 Apr

May

Jun

3.3

Jul

Aug

Sep

Oct

2.5

Nov

Dec

Jan

Feb

1.7

Mar

A

M

J

J

A

S

O

N

D

J

F

M

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

2001-2002
2.8 % 3.0 3.7 3.6 3.6 3.8 4.1 4.1 4.2 4.4 4.7 4.7

Georgia Department of Labor

Metro Atlanta Economic Indicators / May 2002 11

iInsured Unemployment Rate

2.63

2000-2001 2001-2002

2.11

Monthly Data

Seasonally Adjusted

PERCENTAGES

Month 1.59

Apr

M ay

Jun

1.07

Jul

Aug

Sep

Oct

0.55

Nov

Dec

Jan

Feb

0.03

M ar

A

M

J

J

A

S

O

N

D

J

F

M

MMARTA Passengers

2000-2001
0.63 % 0.63 0.65 0.66 0.68 0.68 0.68 0.69 0.78 0.82 0.88 0.93

2001-2002
1.02 % 1.13 1.23 1.35 1.44 1.68 1.75 2.01 1.99 2.00 2.02 2.06

7.8 2000-2001 2001-2002

MILLIONS

7.2

Monthly Data

Seasonally Adjusted

Month

2000-2001 2001-2002

6.6

Apr

6,315,000

6,335,000

M ay

6,658,000

6,572,000

Jun

7,043,000

6,512,000

6.0

Jul

6,032,000

5,481,000

Aug

6,681,000

6,196,000

Sep

6,565,000

5,994,000

Oct

6,566,000

6,043,000

5.4

Nov

6,505,000

5,916,000

Dec

6,126,000

5,760,000

Jan

6,600,000

5,645,000

Feb

6,228,000

5,621,000

M ar 4.8

A

M

J

J

A

S

O

N

D

J

F

M

6,378,000

5,408,000

Cobb Community Transit Passengers

235.9

2000-2001

2001-2002

205.7

Monthly Data
Seasonally Adjusted

THOUSANDS

175.6

Month

2000-2001 2001-2002

Apr

172,616

147,888

M ay

195,133

168,529

Jun

125,437

177,233

145.4

Jul

126,747

176,523

Aug

136,845

189,661

Sep

132,248

173,058

Oct

138,910

187,596

115.2

Nov

137,090

193,266

Dec

123,707

172,187

Jan

141,285

186,592

Feb

130,075

170,281

85.0

M ar

A

M

J

J

A

S

O

N

D

J

F

M

174,076

165,386

12 Metro Atlanta Economic Indicators / May 2002

Georgia Department of Labor

Residential Construction
7.5 2000-2001 2001-2002

6.6

Monthly Data

Seasonally Adjusted

HOUSEHOLD UNITS ( THOUSANDS )

Month

5.8

Apr

M ay

Jun

4.9

Jul

Aug

Sep

Oct

4.1

Nov

Dec

Jan

Feb

3.2

M ar

A

M

J

J

A

S

O

N

D

J

F

M

2000-2001
5,905 5,753 5,465 5,312 5,211 5,066 4,282 5,083 5,011 5,949 6,144 5,089

2001-2002
5,201 5,799 6,447 5,390 5,358 4,915 4,939 4,686 4,826 5,226 5,070 5,286

Nonresidential Construction

$710

2000-2001 2001-2002

MILLIONS

$570

Monthly Data
Seasonally Adjusted

$430

Month 2000-2001 2001-2002

Apr

$535,747,000 $430,876,000

M ay

392,505,000

312,898,000

Jun

561,138,000

299,961,000

$290

Jul

254,659,000

351,753,000

Aug

262,446,000

306,256,000

Sep

387,210,000

326,715,000

Oct

351,400,000

347,295,000

$150

Nov

263,093,000

450,041,000

Dec

343,026,000

186,475,000

Jan

354,911,000

332,767,000

Feb

324,993,000

347,867,000

$10

M ar

A

M

J

J

A

S

O

N

D

J

F

M

315,487,000

170,535,000

Deflated Nonresidential Construction

$426

2000-2001 2001-2002

$342

Monthly Data
Seasonally Adjusted

MILLIONS

$258

Month 2000-2001 2001-2002

Apr

$312,754,000 $243,570,000

M ay

228,866,000

176,082,000

Jun

324,733,000

168,517,000

$174

Jul

147,372,000

198,171,000

Aug

152,054,000

172,539,000

Sep

222,919,000

183,239,000

Oct

201,954,000

195,439,000

$90

Nov

151,116,000

253,687,000

Dec

197,141,000

105,532,000

Jan

202,690,000

187,898,000

Feb

184,865,000

195,651,000

$6

M ar

A

M

J

J

A

S

O

N

D

J

F

M

179,051,000

95,378,000

Georgia Department of Labor

Metro Atlanta Economic Indicators / May 2002

13

Hotel Occupancy
76.4 2000-2001

2001-2002

69.9

Monthly Data

Seasonally Adjusted

PERCENTAGES

Month

2000-2001 2001-2002

63.3

Apr

64.21 %

63.47 %

M ay

64.79

64.03

Jun

67.60

65.04

56.7

Jul

68.51

61.16

Aug

66.95

63.66

Sep

67.40

51.34

Oct

65.82

58.12

50.2

Nov

64.76

55.98

Dec

60.70

55.29

Jan

65.05

59.85

Feb

64.85

59.54

43.6

M ar

A

M

J

J

A

S

O

N

D

J

F

M

66.92

61.04

Average Hotel Room Rates
$88 2000-2001 2001-2002

DOLLARS

$83

Monthly Data

Seasonally Adjusted

Month $79

Apr

M ay

Jun

$75

Jul

Aug

Sep

Oct

$71

Nov

Dec

Jan

Feb

$67

M ar

A

M

J

J

A

S

O

N

D

J

F

M

2000-2001 2001-2002

$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 81.37

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

$49

Monthly Data

Seasonally Adjusted

DOLLARS

Month $46

Apr

M ay

Jun

$43

Jul

Aug

Sep

Oct

$40

Nov

Dec

Jan

Feb

$37

M ar

A

M

J

J

A

S

O

N

D

J

F

M

2000-2001
$47.88 45.49 45.51 46.87 45.43 47.37 45.92 45.51 43.53 47.13 45.89 46.15

2001-2002
$44.59 45.82 45.66 43.60 44.78 40.39 44.18 42.11 41.61 43.93 42.56 45.51

14 Metro Atlanta Economic Indicators / May 2002

Georgia Department of Labor

Average 30-Year Fixed Mortgage Rate*
9.38 2000-2001 2001-2002

8.65

PERCENTAGES

7.92

7.19

6.46

5.73

A

M

J

J

A

S

O

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

Monthly Data
Not Seasonally Adjusted

Month

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

N

D

J

F

M

* Does not include points

2000-2001
8.12 % 8.55 8.26 8.16 8.04 7.95 7.81 7.79 7.45 7.17 7.13 7.02

2001-2002
7.11 % 7.22 7.22 7.18 7.01 6.82 6.62 6.72 7.17 7.03 6.85 7.00

8.33

PERCENTAGES

7.57

6.80

6.04

5.27

A

M

J

J

A

S

O

N

D

J

F

M

* Does not include points

Average One-Year Adjustable Mortgage Rate*

8.46

2000-2001

2001-2002

Monthly Data
Not Seasonally Adjusted

Month

2000-2001

Apr

7.78 %

M ay

8.27

Jun

8.01

Jul

7.87

Aug

7.78

Sep

7.63

Oct

7.48

Nov

7.45

Dec

7.09

Jan

6.74

Feb

6.73

M ar

6.59

2001-2002
6.62 % 6.70 6.77 6.73 6.53 6.35 6.15 6.24 6.65 6.52 6.37 6.55

7.53

Monthly Data

Not Seasonally Adjusted

PERCENTAGES

Month

6.60

Apr

M ay

Jun

5.67

Jul

Aug

Sep

Oct

4.74

Nov

Dec

Jan

Feb

3.81

M ar

A

M

J

J

A

S

O

N

D

J

F

M

* Does not include points

2000-2001
6.82 % 7.09 7.22 7.26 7.35 7.34 7.14 7.06 6.92 6.50 6.22 6.00

2001-2002
5.83 % 5.79 5.71 5.67 5.57 5.38 5.05 5.05 5.26 4.99 4.84 4.98

Georgia Department of Labor

Metro Atlanta Economic Indicators / May 2002 15

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