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

ATL ANTA

METROPOLITAN
Economic

Indicators

A Monthly Report of Atlanta Labor Market and Economic Trends

July 2002

Volume 5, Issue 5

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 5 July 2002

May 2002 Data
Cover art: University of Georgia, Athens, 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 / July 2002

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 / July 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

171.0 172.1 173.1 173.2

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 0.1 percent in May, not seasonally adjusted, to a level of 178.6 (1982-84=100), as recently reported by the Bureau of Labor Statistics of the U.S. Department of Labor. For the 12month period ending in May, the CPI-U, South increased 0.9 percent.
The 0.1 percent increase in the all items index last month followed an increase of 0.6 percent in April. Excluding food and energy, the CPI-U, South rose 0.1 percent over the month.
In the 12 months since May 2001, the CPI-U, South has increased 0.9 percent. Higher costs for housing were partially offset by lower costs for

transportation. Energy costs have declined 11.5 percent over the past 12 months. Excluding food and energy, the CPI-U, South has risen 2.1 percent since May 2001.
The housing index increased 0.4 percent after posting no change in April. Higher costs for both shelter and fuels and utilities contributed to the increase in the housing index. Shelter costs increased 0.3 percent, while costs for fuels and utilities rose 1.1 percent over the month.
The index for apparel dropped 1.2 percent in May after increasing 0.8 percent in April. It was the first decline in the index since January, reflecting the usual pattern of increases in February, March, and April followed by declines, beginning in May. Overall, apparel costs are down 2.0 percent since May 2001.

The transportation index dropped 0.1 percent in May after increasing 2.6 percent in April. The small decrease reflected drops in the indexes for new and used motor vehicles and motor fuel. Gasoline costs, the largest component of the motor fuels index, declined 0.2 percent in May after rising 14.7 percent in April.
Costs for medical care continued to rise in May, for the 20th consecutive month. In May, the index rose 0.3 percent, slightly less than its 0.4 percent increase recorded in April. Increases were recorded both for medical care commodities (0.4 percent) and medical care services (0.3 percent). Over the past year, medical care costs have increased 4.0 percent.

Georgia Department of Labor

Metro Atlanta Economic Indicators / July 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

03

Note: All indicators are seasonally adjusted

Residential Construction Pushes Lead Indicator Higher

The Georgia Department of Labor's Index of Leading Economic Indicators (LEI) for the Atlanta metropolitan area increased 0.2 percent in May, to a level of 158.2 from a revised 157.8 in April, after seasonal adjustment.
Record low interest rates and solid appreciation in housing values are driving the demand for residential homes. Permits for residential construction increased for the third consecutive month, up 9.9 percent in May. Commercial construction continues to struggle as companies postpone expansion plans; as a result the value of nonresidential construction continues to decline, down 29.5 percent in May.
Initial jobless claims increased 4.9 percent as continued unemployment claims dropped 19.0 percent. Manufacturing average weekly hours worked increased 0.4 percent.

Recent 12 Months

171.3

Leading Coincident

163.8

156.2

148.7

141.1
1987-88 = 100 133.6
J J ASOND J FMAM

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) decreased 0.4 percent in May, to a level of 142.5 from a revised 143.1, after seasonal adjustment.
The main contributor to the coincident indicator's down turn was the increase in the metro area's unemployment rate. Atlanta's jobless rate increased three-tenths of a percentage point to 4.7 percent, two-tenths of a percent higher then the state's unemployment rate, which is quite rare.
Nonagricultural employment lost 2,000 jobs in May, reducing the 9,600 jobs gained in April. Retail employment slipped 0.9 percent after two consecutive months of gains.
The coincident indicator continues to stabilize and move horizontally as the metro area attempts to pull out of this tepid economic environment.

4 Metro Atlanta Economic Indicators / July 2002

Georgia Department of Labor

Data Summary
May 2002 Data

Metro Atlanta Economic Indicators

May 2002 Apr 2002

May 2001

Percent Percent Change Change

Apr 2002 May 2001

to

to

May 2002 May 2002

Nonagricultural Employment

2,148,388

Wholesale Employment

159,729

Retail Employment

387,120

Services Employment

681,361

Manufacturing Employment

212,632

Government Employment

276,777

Construction Employment

111,547

Transp. & Pub. Utilities Employment

178,611

Finance, Insurance & Realty Employment

139,431

Business Services Employment

211,950

Health Services Employment

133,391

Social Services Employment

35,589

Manufacturing Workweek

39.4

Manufacturing Earnings

$568.10

Deflated Manufacturing Earnings

$315.96

Initial Unemployment Claims

15,425

Continued Unemployment Claims

177,935

Total Unemployment Rate (not seasonally adjusted) 4.7%

Insured Unemployment Rate

2.00%

MARTA Passengers

5,784,000

Cobb County Transit Passengers

168,728

Residential Construction (household units)

6,360

Nonresidential Construction (value)

$221,446,000

Deflated Nonresidential Construction

$123,162

Hotel Occupancy

57.7%

Average Hotel Room Rates

$77.18

Deflated Average Hotel Room Rate

$42.93

Average 30-Year Fixed Mortgage Rate

6.77%

Average 15-Year Fixed Mortgage Rate

6.29%

Average One-Year Adjustable Mortgage Rate

4.67%

Georgia Department of Labor

2,150,376 159,949 390,801 680,212 210,328 276,982 113,142 176,788 140,331 210,704 134,092 34,711 39.2 $556.57 $309.55 14,740 219,796 4.4% 2.07%
5,861,000 172,867 5,787
$314,321,000 $174,817 61.5% $79.05 $43.96 6.96% 6.49% 4.92%

2,205,265 168,736 401,803 689,963 211,695 272,817 121,631 194,625 143,536 225,539 129,493 32,021 39.6 $561.95 $316.23 11,798 104,108 3.0% 1.13%
6,572,000 168,529 5,799
$312,898,000 $176,082 64.0% $81.42 $45.82 7.22% 6.70% 5.79%

-0.09 -0.14 -0.94 0.17 1.10 -0.07 -1.41 1.03 -0.64 0.59 -0.52 2.53 0.49 2.07 2.07 4.65 -19.05
-1.31 -2.39 9.90 -29.55 -29.55 -2.36 -2.36 -

-2.58 -5.34 -3.65 -1.25 0.44 1.45 -8.29 -8.23 -2.86 -6.03 3.01 11.14 -0.55 1.10 -0.09 30.75 70.91
-11.99 0.12 9.68 -29.23 -30.05 -5.20 -6.31 -

Metro Atlanta Economic Indicators / July 2002

5

Nonagricultural Employment

2.24

2000-2001

2001-2002

MILLIONS

2.21

Monthly Data
Seasonally Adjusted

Month 2000-2001 2001-2002 2.19

2.16 2.14 2.11

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

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 2,138,795 2,135,751 2,150,376 2,148,388

J

J

A

S

O

N

D

J

F

M

A

M

Wholesale Employment

179.7 174.1

2000-2001

2001-2002

Monthly Data
Seasonally Adjusted

THOUSANDS

Month 2000-2001 2001-2002

168.6 Jun

Jul

Aug

163.1

Sep

Oct

Nov

Dec

157.6

Jan

Feb

M ar

Apr

152.1

M ay

J

J

A

S

O

N

D

J

F

M

A

M

173,367 172,513 171,880 170,937 170,371 169,345 169,761 170,504 169,542 169,720 169,364 168,736

169,520 170,210 167,889 168,089 168,062 167,416 162,368 163,076 160,916 158,105 159,949 159,729

Retail Employment
410.3 2000-2001

2001-2002

403.6

Monthly Data
Seasonally Adjusted

397.0

Month

2000-2001 2001-2002

THOUSANDS

Jun

Jul

Aug

390.3

Sep

Oct

Nov

Dec

383.7

Jan

Feb

M ar Apr

377.0

M ay

J

J

A

SOND

J

F

MA

M

391,699 391,542 392,650 392,803 394,699 398,257 398,610 398,320 398,616 400,920 401,984 401,803

401,290 396,967 396,531 395,769 395,528 394,349 395,442 386,814 383,758 385,735 390,801 387,120

6 Metro Atlanta Economic Indicators / July 2002

Georgia Department of Labor

Services Employment
706.0
2000-2001

2001-2002

694.9

Monthly Data
Seasonally Adjusted

THOUSANDS

683.8 672.8 661.7 650.6

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

2000-2001
679,515 682,225 686,911 688,611 688,958 689,450 690,858 687,922 687,678 688,722 693,171 689,963

2001-2002
688,556 688,432 685,960 681,110 681,820 670,195 663,531 662,269 667,703 672,940 680,212 681,361

J

J

A

S

O

N

D

J

F

M

A

M

Manufacturing Employment

227.4

2000-2001

2001-2002

222.2

Monthly Data
Seasonally Adjusted

THOUSANDS

217.1

Month

2000-2001

2001-2002

211.9

Jun

222,571

211,596

Jul

218,876

210,996

Aug

221,181

210,224

Sep

220,284

210,013

Oct

219,354

210,737

206.8

Nov

218,679

207,678

Dec

218,388

208,484

Jan

215,961

212,496

Feb

216,332

212,370

M ar

215,752

207,679

201.6

Apr M ay

213,394 211,695

210,328 212,632

J

J

A

S

O

N

D

J

F

M

A

M

Government Employment

284.3

2000-2001

2001-2002

THOUSANDS

278.3

Monthly Data
Seasonally Adjusted

272.4

Month 2000-2001

2001-2002

Jun

264,330

272,967

266.5 260.6

Jul

261,620

270,500

Aug

264,461

268,116

Sep

265,399

273,845

Oct

266,476

274,057

Nov

267,915

275,806

Dec

267,421

277,667

Jan

270,538

276,408

Feb

272,243

276,737

M ar

272,965

277,134

254.7

Apr M ay

272,995 272,817

276,982 276,777

J

J

A

S

O

N

D

J

FMAM

Georgia Department of Labor

Metro Atlanta Economic Indicators / July 2002 7

Construction Employment

129.1

2000-2001

2001-2002

THOUSANDS

124.7

Monthly Data
Seasonally Adjusted

120.4 116.1 111.8 107.5

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

2000-2001
119,152 119,997 119,908 120,157 119,460 119,207 119,098 119,720 120,093 120,265 122,183 121,631

2001-2002
122,045 120,752 122,476 121,443 123,625 118,467 114,719 114,884 115,255 112,918 113,142 111,547

J

J

A

S

O

N

D

J

F

M

A

M

Transportation and Public Utilities Employment

201.7

2000-2001

2001-2002

195.3

Monthly Data
Seasonally Adjusted

THOUSANDS

188.8

Month 2000-2001 2001-2002

182.4 175.9 169.5

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

190,148 190,386 191,791 191,839 194,155 195,982 196,488 193,645 192,909 193,073 194,821 194,625

194,442 192,674 193,229 191,284 187,871 183,492 181,429 179,208 177,463 177,345 176,788 178,611

J

J

A

S O ND

J

F

MAM

Finance, Insurance and Realty Employment

145.6

2000-2001

2001-2002

144.0

Monthly Data
Seasonally Adjusted

THOUSANDS

142.5

Month 2000-2001 2001-2002

141.0 139.5 138.0

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

140,235 140,957 141,114 140,117 140,662 140,820 141,060 141,392 141,711 142,343 143,418 143,536

143,978 142,551 142,019 141,658 142,105 141,056 140,207 140,850 142,382 142,397 140,331 139,431

J

J

A

S

O

N

D

J

F

M

A

M

8 Metro Atlanta Economic Indicators / July 2002

Georgia Department of Labor

Business Services Employment
252.1

2000-2001

2001-2002

240.0

Monthly Data
Seasonally Adjusted

THOUSANDS

228.0

Month Jun

2000-2001
231,241

2001-2002
222,177

Jul

233,704

223,289

Aug

236,420

222,957

215.9 203.8

Sep

237,307

220,140

Oct

237,776

216,269

Nov

236,095

204,182

Dec

237,132

204,204

Jan

231,751

202,527

Feb

229,301

204,004

M ar

229,264

206,958

191.8

Apr M ay

226,603 225,539

210,704 211,950

J

J

A

S

O

N

D

J

FMAM

Health Services Employment

137.6

2000-2001

2001-2002

THOUSANDS

134.2

Monthly Data
Seasonally Adjusted

130.8

Month 2000-2001 2001-2002

Jun

125,192

130,653

Jul

124,415

130,221

127.4

Aug

125,192

129,892

Sep

125,420

130,478

Oct

126,221

132,458

Nov

126,427

131,142

124.0

Dec

126,414

131,098

Jan

125,934

130,877

Feb

126,943

133,077

M ar

127,363

132,974

Apr

128,711

134,092

120.6

M ay

129,493

133,391

J

J

A

SOND

J

F

MA M

Social Services Employment

37.0

2000-2001

2001-2002

35.5

Monthly Data
Seasonally Adjusted

THOUSANDS

34.0 32.5 31.1 29.6

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

2000-2001
31,188 31,063 31,460 31,333 31,405 31,509 31,932 32,180 32,164 32,188 32,128 32,021

2001-2002
31,950 32,622 32,100 32,960 33,386 33,895 33,752 34,620 34,550 34,644 34,711 35,589

J

J

A

SO

ND

J

FMAM

Georgia Department of Labor

Metro Atlanta Economic Indicators / July 2002

9

Manufacturing Workweek

41.7

2000-2001

2001-2002

HOURS

40.7

Monthly Data
Seasonally Adjusted

39.7 38.7 37.8 36.8

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

J

J

A

S

O

N

D

J

F

M

A

M

Manufacturing Earnings

$593

2000-2001

2001-2002

2000-2001
40.0 39.5 39.8 38.8 39.9 39.3 39.0 39.1 38.9 38.9 38.4 39.6

2001-2002
40.1 38.8 39.6 39.8 38.6 38.9 38.9 38.9 39.3 40.3 39.2 39.4

DOLLARS

$579

Monthly Data
Seasonally Adjusted

$566

Month

2000-2001

2001-2002

$552 $539 $525

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

$552.51 547.47 560.32 548.43 569.35 563.98 552.40 550.79 553.01 551.74 541.22 561.95

$575.65 555.90 561.00 569.47 544.90 543.04 559.84 552.14 578.59 580.85 556.57 568.10

J

J

A

SOND

J

F

MA M

Deflated Manufacturing Earnings

$345

2000-2001

2001-2002

$334

Monthly Data
Seasonally Adjusted

DOLLARS

$322

Month
Jun Jul Aug

2000-2001
$319.74 316.82 324.64

2001-2002
$323.40 313.18 316.06

$311 $299 $288

Sep Oct Nov Dec Jan Feb M ar Apr M ay

315.73 327.21 323.94 317.47 314.56 314.57 313.13 305.95 316.23

319.39 306.64 306.11 316.83 311.77 325.42 324.86 309.55 315.96

J

J

ASO

ND

J

FMAM

10 Metro Atlanta Economic Indicators / July 2002

Georgia Department of Labor

Initial Unemployment Claims

25.8

2000-2001

2001-2002

THOUSANDS

21.0

Monthly Data
Seasonally Adjusted

16.2

Month
Jun Jul Aug

2000-2001
7,552 6,861 8,219

2001-2002
10,967 11,834 13,049

11.5

Sep

7,057

12,523

Oct

7,534

19,180

Nov

7,795

17,429

Dec

8,228

13,885

6.7

Jan

11,539

14,616

Feb

10,223

12,464

M ar

10,221

13,598

Apr

10,910

14,740

1.9

M ay

11,798

15,425

J

J

A

S

O

N

D

J

F

M

A

M

Continued Unemployment Claims

277.0

2000-2001

2001-2002

THOUSANDS

221.6

Monthly Data
Seasonally Adjusted

166.2

Month

2000-2001 2001-2002

Jun

56,248

109,620

Jul

61,750

124,874

110.8 55.4

Aug

59,873

123,371

Sep

59,470

131,061

Oct

73,196

190,425

Nov

59,977

164,254

Dec

61,431

189,033

Jan

78,839

166,026

Feb

80,310

181,110

M ar

76,932

168,001

Apr

110,332

219,796

0.0

M ay

104,108

177,935

J

J

A

SOND

J

F

M

A

M

Total Unemployment Rate

5.9

2000-2001

2001-2002

5.0

Monthly Data

Not Seasonally Adjusted

PERCENTAGES

Month

4.2 Jun

Jul

Aug

3.4

Sep

Oct

Nov

Dec

2.5

Jan

Feb

Mar

Apr

1.7

May

J

J

A

S

O

N

D

J

F

M

A

M

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

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

Georgia Department of Labor

Metro Atlanta Economic Indicators / July 2002 11

iInsured Unemployment Rate
2.6

2000-2001

2001-2002

2.1

Monthly Data

Seasonally Adjusted

Month 1.6

PERCENTAGES

Jun

Jul

Aug

1.1

Sep

Oct

Nov

Dec

0.6

Jan

Feb

M ar

Apr

0.0

M ay

J

J

A

S

O

N

D

J

F

M

A

M

MMARTA Passengers

2000-2001
0.65 % 0.66 0.68 0.68 0.68 0.69 0.78 0.82 0.88 0.93 1.02 1.13

2001-2002
1.23 % 1.35 1.44 1.68 1.75 2.01 1.99 2.00 2.02 2.06 2.07 2.00

7.7

2000-2001

2001-2002

7.1

Monthly Data

Seasonally Adjusted

MILLIONS

Month

2000-2001 2001-2002

6.5

Jun

7,043,000

6,512,000

Jul

6,032,000

5,481,000

Aug

6,681,000

6,196,000

5.9

Sep

6,565,000

5,994,000

Oct

6,566,000

6,043,000

Nov

6,505,000

5,916,000

Dec

6,126,000

5,760,000

5.4

Jan

6,600,000

5,645,000

Feb

6,228,000

5,621,000

M ar

6,378,000

5,408,000

Apr

6,335,000

5,861,000

4.8

M ay

6,572,000

5,784,000

J

J

A

S

O

N

D

J

F

M

A

M

Cobb Community Transit Passengers

223.9

2000-2001

2001-2002

197.2

Monthly Data
Seasonally Adjusted

THOUSANDS

170.5 143.9 117.2
90.6

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

2000-2001
125,437 126,747 136,845 132,248 138,910 137,090 123,707 141,285 130,075 174,076 147,888 168,529

2001-2002
177,233 176,523 189,661 173,058 187,596 193,266 172,187 186,592 170,281 165,386 172,867 168,728

J

J

AS

OND

J

FMAM

12 Metro Atlanta Economic Indicators / July 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

Jun

Jul

Aug

4.9

Sep

Oct

Nov

Dec

4.1

Jan

Feb

M ar

Apr

3.2

M ay

J

J

A

S

O

N

D

J

F

M

A

M

Nonresidential Construction

$731

2000-2001

2001-2002

2000-2001
5,465 5,312 5,211 5,066 4,282 5,083 5,011 5,949 6,144 5,089 5,201 5,799

2001-2002
6,447 5,390 5,358 4,915 4,939 4,686 4,826 5,226 5,070 5,286 5,787 6,360

MILLIONS

$587

Monthly Data
Seasonally Adjusted

$443

Month 2000-2001 2001-2002

$299 $154
$10

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

$561,138,000 254,659,000 262,446,000 387,210,000 351,400,000 263,093,000 343,026,000 354,911,000 324,993,000 315,487,000 430,876,000 312,898,000

$299,961,000 351,753,000 306,256,000 326,715,000 347,295,000 450,041,000 186,475,000 332,767,000 347,867,000 170,535,000 314,321,000 221,446,000

J

J

A

S O ND

J

F

MAM

Deflated Nonresidential Construction

$407

2000-2001

2001-2002

$327

Monthly Data
Seasonally Adjusted

MILLIONS

$247

Month 2000-2001 2001-2002

Jun

$324,733,000 $168,517,000

Jul

147,372,000

198,171,000

$167

Aug

152,054,000

172,539,000

Sep

222,919,000

183,239,000

Oct

201,954,000

195,439,000

Nov

151,116,000

253,687,000

$86

Dec

197,141,000

105,532,000

Jan

202,690,000

187,898,000

Feb

184,865,000

195,651,000

M ar

179,051,000

95,378,000

Apr

243,570,000

174,817,000

$6

M ay

176,082,000

123,162,000

J

J

A

S O ND

J

F

MAM

Georgia Department of Labor

Metro Atlanta Economic Indicators / July 2002

13

Hotel Occupancy
75
2000-2001

2001-2002

69

Monthly Data

Seasonally Adjusted

PERCENTAGES

Month

2000-2001 2001-2002

63

Jun

67.60 %

65.04 %

Jul

68.51

61.16

Aug

66.95

63.66

56

Sep

67.40

51.34

Oct

65.82

58.12

Nov

64.76

55.98

Dec

60.70

55.29

50

Jan

65.05

59.85

Feb

64.85

59.54

M ar

66.92

61.04

Apr

63.47

61.54

44

M ay

64.03

57.71

J

J

A

S

O

N

D

J

F

M

A

M

Average Hotel Room Rates

$89

2000-2001

2001-2002

DOLLARS

$84

Monthly Data

Seasonally Adjusted

Month $80

Jun Jul

Aug

$76

Sep

Oct

Nov

Dec

$71

Jan

Feb

M ar

Apr

$67

M ay

J

J

A

SO

ND

J

F

MA M

Deflated Average Hotel Room Rates

$51

2000-2001

2001-2002

2000-2001 2001-2002

$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 79.05 77.18

$49

Monthly Data

Seasonally Adjusted

DOLLARS

Month $46

Jun

Jul

Aug

$43

Sep

Oct

Nov

Dec

$40

Jan

Feb

M ar

Apr

$37

M ay

J

J

A

S

O

N

D

J

F

M

A

M

2000-2001
$45.51 46.87 45.43 47.37 45.92 45.51 43.53 47.13 45.89 46.15 44.59 45.82

2001-2002
$45.66 43.60 44.78 40.39 44.18 42.11 41.61 43.93 42.56 45.51 43.96 42.93

14 Metro Atlanta Economic Indicators / July 2002

Georgia Department of Labor

Average 30-Year Fixed Mortgage Rate*
9.00

2000-2001

2001-2002

8.40

PERCENTAGES

7.80

7.20

6.60

6.00

J

J

A

S

O

N

D

Average 15-Year Fixed Mortgage Rate*

9.10

2000-2001

2001-2002

Monthly Data
Not Seasonally Adjusted

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

J

F

M

A

M

* Does not include points

2000-2001
8.26 % 8.16 8.04 7.95 7.81 7.79 7.45 7.17 7.13 7.02 7.11 7.22

2001-2002
7.22 % 7.18 7.01 6.82 6.62 6.72 7.17 7.03 6.85 7.00 6.96 6.77

8.34

PERCENTAGES

7.58

6.82

6.06

5.30

J

J

A

S

O

N

D

J

F

M

A

M

* Does not include points
Average One-Year Adjustable Mortgage Rate*
7.70

2000-2001

2001-2002

Monthly Data
Not Seasonally Adjusted

Month

2000-2001

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

Apr

6.62

M ay

6.70

2001-2002
6.77 % 6.73 6.53 6.35 6.15 6.24 6.65 6.52 6.37 6.55 6.49 6.29

6.96

Monthly Data
Not Seasonally Adjusted

PERCENTAGES

6.22 5.48 4.74 4.00

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

J

J

A

S

O

N

D

J

F

M

A

M

* Does not include points

2000-2001
7.22 % 7.26 7.35 7.34 7.14 7.06 6.92 6.50 6.22 6.00 5.83 5.79

2001-2002
5.71 % 5.67 5.57 5.38 5.05 5.05 5.26 4.99 4.84 4.98 4.92 4.67

Georgia Department of Labor

Metro Atlanta Economic Indicators / July 2002 15

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