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 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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