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 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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